J. MILLARD TAWES, Governor                        623

259-0.

The University of Maryland is hereby authorized (a) to fix, revise,
charge and collect fees, rents and other charges from students for
the use of any dormitory or dormitories or any part thereof, and
(b) to contract with any individual, partnership, association or
corporation desiring to use a part of any dormitory as a facility
related to such dormitory such as an eating facility, and to fix the
terms, conditions, fees, rents and rates of charges for such use. The
fees, rents, charges and revenues from the dormitory or dormitories
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 dormitory or dormitories and (ii) the principal of
and the interest on such bonds as the same shall become due and pay-
able, 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 dormitory or
dormitories (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 trust agreement securing the same) shall be set aside at such
regular intervals as may be provided in 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 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 University shall imme-
diately 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 University,
irrespective of whether such parties have notice thereof. The use
and disposition of moneys to the credit of such sinking fund shall
be subject to the provisions of the trust agreement. Any trust
agreement by which a pledge is created need not be filed or recorded
except in the records of said University.

Notwithstanding any of the foregoing provisions of this section,
the University of Maryland may, in the trust agreement securing
such bonds, covenant to pay all or any part of the cost of main-
taining, equipping, repairing and operating any dormitory or dormi-
tories, and inasmuch as each such dormitory 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 revenue re-
funding bonds.

259P.

(a) All moneys received by said University as proceeds from the
sale of bonds authorized by the provisions of Sections 259K—259T,
inclusive, and all moneys received by said University by way of fees,
rents, charges or other revenues assigned or pledged as security for