454                                 Laws of Maryland                         [Ch. 346

agreement. Such pledge shall be valid and binding from the time
when the pledge is made; such fees, rents, charges and other rev-
enues or other moneys so pledged and thereafter received by the
University shall immediately be subject to the lien of such pledge
without any physical delivery thereof or further act, and the lien of
any such pledge shall be valid and binding as against all parties hav-
ing any claims of any kind in tort, contract or otherwise against the
University, irrespective of whether such parties have notice thereof.
Neither the resolution nor any trust agreement by which a pledge
is created need be filed or recorded except in the records of said
University. The use and disposition of moneys to the credit of such
sinking fund shall be subject to the provisions of the resolutions
authorizing the issuance of such bonds or of such trust agreement.

Notwithstanding any of the foregoing provisions of this section,
the University of Maryland may, by resolution passed prior to the
issuance of revenue bonds under the provisions of Sections 259A-
259J, inclusive, of this sub-title or in the trust agreements securing
such bonds, covenant to pay all or any part of the cost of maintain-
ing, equipping, repairing and operating any housing unit or housing
units, and inasmuch as each such housing unit shall at all times
belong to the State, such covenant shall have the force of contract
between the University and the holders of the revenue bonds or reve-
nue refunding bonds issued on account of such project or projects.

259F. (a) All moneys received by said University as proceeds
from the sale of bonds authorized by the provisions of Sections 259 A-
259J, inclusive, and all moneys received by said University by way
of fees, rents, charges or other revenues from the housing unit or
housing units constructed from the proceeds of said bonds, shall be
deemed to be trust funds to be held and applied solely as provided by
the provisions of Sections 259A-259J, inclusive, of this sub-title. In
the event that said University, by resolution or pursuant to the terms
of a trust agreement, shall elect to pledge or assign the income, fees,
rents, charges and other revenues to be received from any related
facility, all such moneys so received shall likewise be deemed to be
trust funds to be held and applied solely as provided by the provi-
sions of Sections 259A-259J, inclusive, of this sub-title.

(b) Any holder of bonds issued under the provisions of Sections
259A-259J, inclusive, of this sub-title, or any of the coupons apper-
taining thereto, 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 agree-
ment or such resolution, and may enforce and compel the perform-
ance of all duties required by the provisions of Sections 259A-259J,
inclusive, of this sub-title or by such trust agreement or such resolu-
tion to be performed by the University of Maryland or any officer
thereof, including the fixing, charging and collecting of fees, rents
and charges.

259G. The exercise of the powers granted by the provisions of
Sections 259A-259J, inclusive, of 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,