928                               LAWS OF MARYLAND                        [CH. 564

and the holders of the revenue bonds or revenue refunding bonds
issued on account of such project.

19.    (a) All moneys received by said College in pursuance of the
authority of this sub-title, either as proceeds from the sale of bonds
or from revenues, shall be deemed to be trust funds to be held and
applied solely as provided in this sub-title.

(b) Any holder of bonds issued under the provisions of this sub-
title or any of the coupons appertaining theretof and the trustee
under any trust agreement, except to the extent the rights herein
given may be restricted by such trust agreement or by the resolution
authorizing the issuance of such bonds, may, either at law or in
equity, by suit, action, mandamus or other proceedings, protect, and
enforce any and all rights under* the laws of the State or granted
hereunder or under such trust agreement or resolution, and may
enforce and compel the performance of all duties required by this
sub-title or by such trust agreement or resolution to be performed
by the Morgan State College or any officer thereof, including the
fixing, charging and collecting of fees and charges.

20.    The exercise of the powers granted by this sub-title will be
in all respects for the benefit of the people of this State, for the
increase of their education and prosperity, and for the improvement
of their health, living conditions and general welfare, and as the
operation and maintenance of projects by said College will constitute
the performance of essential governmental functions, said College
shall not be required to pay any taxes or assessments upon any
project or any property acquired or used by said College under the
provisions of this sub-title or upon the income therefrom; and the
bonds issued under the provisions of this sub-title, their transfer and
income therefrom (including any profit made on the sale thereof)
shall at all times be free from taxation by the State of Maryland or
by any of its political sub-divisions, or by any town or incorporated
municipality or any other public agency within the State.

21.    (a) Said College is further authorized to provide by resolu-
tion of its Board of Trustees for the issuance of revenue bonds of
the College for the purpose of refunding any revenue bonds or rev-
enue refunding bonds then outstanding which shall have been issued
under the provisions of this sub-title, including the payment of any
redemption premium thereon and any interest accrued or to accrue
to the date of redemption of such bonds. The issuance of such bonds,
the maturities and other details thereof, the rights, and remedies of
the holders thereof, the security therefor, and the rights, duties and
obligations of said College in respect to the same shall be governed
by the provisions of this sub-title so far as the same may be
applicable.

(b) Bonds issued under the provisions of this sub-title are hereby
made securities in which all public officers and public agencies of
the State and its political sub-divisions, and all banks, trust com-
panies, savings and loan associations, investment companies and
others carrying on a banking business, all insurance companies and
insurance associations and others carrying on an insurance business,
all administrators, executors, guardians, trustees and other fidu-
ciaries, and all other persons may legally and properly invest funds,
including capital in their control or belonging to them. Such bonds