J. MILLARD TAWES, Governor                     1097

State. Only SUBJECT TO THE PROVISIONS OF SUB-SECTION
248D (F), ONLY fees, rents, charges and revenues received from the
use of the housing unit or housing units constructed from the pro-
ceeds of the bonds issued under the provisions of Sections 248B-
248K, inclusive, of this sub-title shall be used or appropriated for the
payment of the interest on or the principal of such bonds; provided,
however, that all or any part of the fees, rents, charges and revenues
received from the use of the related facilities in the housing unit or
housing units constructed from the proceeds of the bonds issued
under the provisions of Sections 248B-248K, inclusive, of this sub-
title, may at the option of said Board of Trustees be excluded from
such use and appropriation; and provided, further, that prior to and
during construction and for one year after completion of construc-
tion of any housing unit or housing units 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 other moneys as may be allocated for
such purpose.

(F) THE SAID BOARD OF TRUSTEES MAY FIX AND RE-
VISE, FROM TIME TO TIME, FEES, RENTS AND CHARGES
FOR THE USE OF ANY EXISTING HOUSING UNIT OR EXIST-
ING HOUSING UNITS AT ANY OF THE PUBLIC COLLEGES
UNDER THE DIRECTION AND CONTROL OF SAID BOARD
OF TRUSTEES AND MAY DESIGNATE AND PLEDGE ALL OR
ANY PART OF SUCH FEES, RENTS, CHARGES AND OTHER
REVENUES FROM ANY SUCH EXISTING HOUSING UNIT OR
EXISTING HOUSING UNITS, AS ADDITIONAL SECURITY
FOR THE BONDS AUTHORIZED BY SECTIONS 248B-248K,
INCLUSIVE, OF THIS SUB-TITLE. THE FEES, RENTS,
CHARGES AND REVENUES SO DESIGNATED AND PLEDGED
AS ADDITIONAL SECURITY SHALL BE SUBJECT TO ANY
PLEDGE OR ASSIGNMENT PROVIDED IN ANY TRUST
AGREEMENT ENTERED INTO PURSUANT TO SECTION
248E OF THIS SUB-TITLE AND SHALL BE TREATED IN ALL
RESPECTS THE SAME AS PROVIDED IN SECTIONS 248B-
248K, INCLUSIVE, OF THIS SUB-TITLE FOR FEES, RENTS,
CHARGES AND REVENUES RECEIVED FROM THE USE OF
THE HOUSING UNIT OR HOUSING UNITS CONSTRUCTED
FROM THE PROCEEDS OF THE BONDS ISSUED UNDER THE
PROVISIONS OF SECTIONS 248B-248K, INCLUSIVE, OF THIS
SUB-TITLE.

248E.

In the discretion of said Board of Trustees any bonds issued under
the provisions of Sections 248B-248K, inclusive, of this sub-title,
may be secured by a trust agreement by and between said Board of
Trustees 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, rents, charges and other revenues to be received from the use
of the housing unit or housing units (including the related facilities)
in connection with which the bonds secured by such trust agreement
shall be issued, but shall not convey or mortgage any housing unit
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 enforcing the rights and remedies of the bond-
holders as may be reasonable and proper and not in violation of law,