624                               LAWS OF MARYLAND                       [CH. 434

the bonds shall be deemed to be trust funds to be held and applied
solely as provided by the provisions of Sections 259K—259T, inclu-
sive, of this subtitle.

(b) Any holder of bonds issued under the provisions of Sections
259K—259T, inclusive, of this subtitle, or any of the coupons ap-
pertaining thereto, and the trustee under any trust agreement, ex-
cept to the extent the rights herein given may be restricted by such
trust agreement 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, and may enforce and compel the performance
of all duties required by the provisions of Sections 259K—259T, in-
clusive, of this subtitle or by such trust agreement to be performed
by the University of Maryland or any officer thereof, including the
fixing, charging and collecting of fees, rents and charges.

259Q.

The exercise of the powers granted by the provisions of Sections
259K—259T, inclusive, of this subtitle will be in all respects for the
benefit of the people of this State, for the increase of their educa-
tion and prosperity, and for the improvement of their health, living
conditions and general welfare, and as the operation and maintenance
of said facilities and accommodations by said University will con-
stitute the performance of essential governmental functions, said
University shall not be required to pay any taxes or assessments
upon any building or buildings or any property, real, personal or
mixed, acquired or used by said University under the provisions of
Sections 259K—259T, inclusive, of this subtitle or upon the income
therefrom; and the bonds issued under the provisions of Sections
259K—259T, inclusive, of this subtitle, their transfer and income
therefrom (including any profit made on the sale thereof) shall at
all times be free from taxation by the State of Maryland or by any
of its political subdivisions, or by any town or incorporated munic-
ipality or any other public agency within the State.

259R.

(a)  Said University is further authorized to provide by resolution
of its Board of Regents for the issuance of revenue bonds of the
University for the purpose of refunding any revenue bonds or
revenue refunding bonds then outstanding which shall have been
issued under the provisions of Sections 259K—259T, inclusive, of
this subtitle, including the payment of any redemption premium
thereon and any interest accrued or to accrue to the date of redemp-
tion of such bonds. The issuance of such bonds, the maturities and
other details thereof, the rights, and remedies of the holders thereof,
the security therefor, and the rights, duties and obligations of said
University in respect to the same shall be governed by the pro-
visions of Sections 259K—259T, inclusive, of this subtitle so far as
the same may be applicable.

(b)   Bonds issued under the provisions of Sections 259K—259T,
inclusive, of this subtitle are hereby made securities in which all
public officers and public agencies of the State and its political sub-
divisions, and all banks, trust companies, savings and loan associa-