J. MILLARD TAWES, Governor                       1099

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 pur-
chase price of bonds retired by call or purchase as provided in said
resolution or trust agreement. Such pledge shall be valid and bind-
ing 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 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 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 pledge is created need be filed or recorded
except in the records of said Board of Trustees. The use and dis-
position 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 Board of Trustees may, by resolution passed prior to the issuance
of revenue bonds under the provisions of Sections 248B-248K, in-
clusive, of this sub-title or in the trust agreements securing such
bonds, covenant to pay all or any part of the cost of maintaining,
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 Board of Trustees and the holders of the revenue bonds
or revenue refunding bonds issued on account of such project or
projects.

248G.

(a)  All moneys received by said Board of Trustees as proceeds
from the sale of bonds authorized by the provisions of Sections 248B-
248K, inclusive, and all moneys received by said Board of Trustees
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 pro-
vided by the provisions of Sections 248B-248K, inclusive, of this sub-
title. In the event that said Board of Trustees, by resolution or pur-
suant 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 provisions of Sections 248B-248K, inclusive, of this sub-title.

(b)  Any holder of bonds issued under the provisions of Sections
248B-248K, 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
agreement or such resolution, and may enforce and compel the per-
formance of all duties required by the provisions of Sections 248B-
248K, inclusive, of this sub-title or by such trust agreement or such