926                               LAWS OF MARYLAND                        [CH. 564

(d)  Bonds may be issued under the provisions of this sub-title
without obtaining the consent of any department, division, com-
mission, board, bureau, or agency of the State, and without any
other proceedings or the happening of any other conditions or
things than those proceedings, conditions or things which are spe-
cifically required by this sub-title. The provisions of Sections SU to
36, inclusive, of Article 31 of the Annotated Code of Maryland
(1939 Edition), and any amendments thereto, shall not a/pply to
revenue bonds issued under the provisions of this sub-title.

(e)  Any bonds issued under authority of this sub-title shall not
create or constitute any indebtedness or obligation of the State of
Maryland or of any political sub-division thereof, except said Col-
lege, either legal, equitable, moral or otherwise, and the bonds shall
so state on their face; nor shall such bonds constitute a debt or
obligation contracted by the General Assembly or pledge the faith
and credit of the State within the meaning of Section 34 of Article
S of the Constitution of the State. Only fees FEES, charges and rev-
enues received from the use of the buildings constructed from the pro-
ceeds of bonds issued under the provisions of this sub-title, AND
REVENUES RECEIVED BY INCREASING FEES AND
CHARGES FOR THE USE OF EXISTING BUILDINGS, shall
be used or appropriated for the payment of interest or principal of
such bonds; provided, however, that prior to and during construc-
tion and for one year after completion of construction of any
project or projects for which bonds have been issued, the interest
on such bonds may be paid out of the proceeds of such bonds and/or
out of such moneys as may be allocated for such purpose.

17. In the discretion of said College any bonds issued under the
(provisions of this sub-title may be secured by a trust agreement
by and between said College and a corporate trustee, which may be
any trust company or bank having the powers of a trust company
within or without the State. Any such trust agreement may pledge
or assign the income, fees and other revenues to be received from
the operation of the project or projects in connection with which
the bonds secured by such trust agreement shall be issued, but shall
not convey or mortgage any project or any part thereof. Any such
trust agreement or any resolution providing for the issuance of
such bonds may contain such provisions for protecting and enforc-
ing the rights and remedies of the bondholders as may be reason-
able and proper and not in violation of law, including covenants
setting forth the duties of said College in relation to the acquisition
of property and the construction, improvement, maintenance, repair,
operation and insurance of the project or projects in connection
with which such bonds shall have been authorized, and the custody,
safeguarding and application of all moneys, and provisions for the
employment of independent consultants in connection with the con-
struction or operation of such project or projects. It shall be lawful
for any bank or trust company incorporated under the laws of the
State which may act as depository of the proceeds of bonds or of
revenues to furnish such indemnifying bonds or to pledge such
securities as may be required by said College. Any such trust
agreement may set forth the rights and remedies of the bondholders
and of the trustee, and may restrict the individual right of action
by bondholders as is customary in trust agreements or trust inden-
tures securing bonds and debentures of corporations. In addition