J. MILLARD TAWES, Governor                       1085

tomary in trust agreements or trust indentures securing bonds and
debentures of corporations. In addition to the foregoing, any such
trust agreement may contain such other provisions as said Board of
Trustees may deem reasonable and proper for the security of the
bondholders, including covenants to abandon, restrict or prohibit the
construction or operation of competing facilities. All expenses incur-
red in carrying out the provisions of any such trust agreement may
be treated as a part of the cost of the operation of the housing unit or
housing units.

165E.

The Board of Trustees of the State Colleges is hereby authorized
(a) to fix, revise, charge and collect fees, rents and other charges
from any individual, or group or association of individuals, author-
ized to use any housing unit or any part thereof and to make manda-
tory the payments of such fees and charges; (b) to contract with any
individual, or group or association of individuals, authorized and
desiring to use any housing unit or part thereof, for the use of the
same and to fix the terms, conditions, fees, rents and rates of charges
for such use; (c) to contract for the use of all or any part of such
housing unit or housing units with any person, partnership, associa-
tion, corporation, entity or agency thereof desiring to use all or any
part of such housing unit or housing units, and to fix the terms, con-
ditions, fees, rents and rates of charges for such use. The fees, rents,
charges and revenues from the housing unit or housing units in con-
nection with which the bonds of any issue have been issued shall be
so fixed and adjusted from time to time as to provide a fund sufficient
to pay (i) the cost of maintaining, repairing and operating such
housing unit or housing units and (ii) the principal of and the inter-
est on such bonds as the same shall become due and payable, and to
create reserves for such purposes. Such fees, rents and charges shall
not be subject to supervision or regulation by any other commission,
board, bureau or agency of the State. The fees, rents, charges and
other revenues derived from the housing unit or housing units in
connection with which the bonds of any issue shall have been issued
(except such part thereof as may be necessary to pay the cost of
maintaining, equipping, repairing and operating the same and to
provide such reserves therefor as may be provided for in the reso-
lution authorizing the issuance of such bonds or in the trust agree-
ment securing the same) shall be set aside at such regular intervals
as may be provided in such resolution or such trust agreement in a
sinking fund which is hereby pledged to, and charged with, the
payment of (1) the interest upon such bonds as such interest shall
fall due, (2) the principal of such bonds as the same shall fall due, (3)
the necessary charges of paying agents for paying principal and
interest, and (4) the redemption price or purchase price of bonds
retired by call or purchase as provided in said resolution or trust
agreement. Such pledge shall be valid and binding from the time when
the pledge is made; such fees, rents, charges and other revenues or
other moneys so pledged and thereafter received by the Board of
Trustees shall immediately be subject to the Hen of such pledge with-
out any physical delivery thereof or further act, and the lien of any
such pledge shall be valid and binding as against all parties having
any claims of any kind in tort, contract or otherwise against the
Board of Trustees, irrespective of whether such parties have notice
thereof. Neither the resolution nor any trust agreement by which a