622                              LAWS OF MARYLAND                      [CH. 434

PART OF SUCH INCREASE IN SUCH FEES, RENTS, CHARGES
AND OTHER REVENUES FROM ANY SUCH EXISTING
HOUSING UNIT OR EXISTING HOUSING UNITS, AS ADDI-
TIONAL SECURITY FOR THE BONDS AUTHORIZED BY
SECTIONS 259K—259T, INCLUSIVE, OF THIS SUBTITLE. 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 259N OF THIS SUBTITLE AND SHALL BE TREATED
IN ALL RESPECTS THE SAME AS PROVIDED IN SECTIONS
259K—259T, INCLUSIVE, OF THIS SUBTITLE FOR FEES,
RENTS, CHARGES AND REVENUES RECEIVED FROM THE
USE OF THE HOUSING UNIT OR HOUSING UNITS CON-
STRUCTED FROM THE PROCEEDS OF THE BONDS ISSUED
UNDER THE PROVISIONS OF SECTIONS 259K—259T, IN-
CLUSIVE, OF THIS SUBTITLE.

259N.

Bonds issued under the provisions of Sections 259K—259T, in-
clusive, of this subtitle, shall be secured by a trust agreement by and
between said University 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 dormitory or dormitories in connection
with which the bonds secured by such trust agreement shall be
issued and may pledge or assign the income, fees, rents, charges,
and other revenues to be received from the use of other dormitories
under the control of the University, but shall not convey or mortgage
any dormitory. Any such trust agreement may contain such pro-
visions for protecting and enforcing the rights and remedies of the
bondholders as may be reasonable and proper and not in violation
of law, including covenants setting forth the duties of said Univer-
sity in relation to the acquisition of property, the construction of any
dormitory or dormitories and the extension, enlargement, improve-
ment, maintenance, operation, repair and insurance of any dormitory
or dormitories, and the custody, safeguarding and application of all
moneys, and provisions for the employment of independent con-
sultants in connection with the construction or operation of any
dormitory or dormitories. It shall be lawful for any bank or trust
company incorporated under the laws of the State which may act as
depository of the proceeds of bonds or of revenues to furnish such
indemnifying bonds or to pledge such securities as may be required
by said University. Any such trust agreement may set forth the
rights and remedies of the bondholders and of the trustee, and may
restrict the individual right of action by bondholders as is customary
in trust agreements or trust indentures securing bonds and debentures
of corporations. In addition to the foregoing, any such trust agree-
ment may contain such other provisions as said University may
deem reasonable and proper for the security of the bondholders, in-
cluding covenants to abandon, restrict or prohibit the construction
or operation of competing facilities. All expenses incurred in carry-
ing out the provisions of any such trust agreement may be treated as a
part of the cost of the operation of the dormitory or dormitories.