SPIRO T. AGNEW, Governor                       1157

housing unit or any part thereof, and to receive and accept aid or
contributions from any source of either money, property, labor or
other things of value, to be held, used and applied only for the
purposes for which such grants and contributions may be made;

(h) to use all or any part of the revenues from existing housing
units to pay all or a part of the cost of one or more of said housing
units; and

(i) to do all acts and things necessary or convenient to carry out
the powers expressly granted by the provisions of Sections 259U-
259AD, inclusive, of this sub-title.

259W.

(a) The University of Maryland is hereby authorized and em-
powered to provide, by resolution, from time to time, for the issuance,
in series, of its negotiable bonds, certificates or other evidence of
indebtedness for the purpose of paying all or any part of the cost
of any one or more of said housing units. The principal and interest
on such bonds, certificates or other evidence of indebtedness shall
be payable solely from the funds herein provided for such payment.
The bonds of each issue shall be dated, shall bear interest, and shall
mature at such time or times, not exceeding 40 years from their
date or dates, as may be determined by the University of Maryland.
The bonds of each issue may be made redeemable before maturity
at the option of the University of Maryland at such price or prices
and under such terms and conditions as may be fixed by the Uni-
versity of Maryland prior to the issuance of the bonds. The Univer-
sity of Maryland shall determine the form of the bonds, including
any interest coupons to be attached thereto, and shall fix the de-
nomination or denominations of the bonds and the place or places
of payment of principal and interest which may be at any bank
or trust company within or without the State. The bonds shall bear
the manual or facsimile signature of the chairman or one of the
other members of the Board of Regents of said University and the
official seal of the University or a facsimile thereof shall be affixed
to said bonds, attested by the manual or facsimile signature of the
secretary or an assistant secretary of said Board of Regents, pro-
vided that at least one of said signatures with respect to each of
said bonds shall be a manual signature, and any coupons attached
thereto shall bear the facsimile signature of the chairman of said
Board of Regents. In case any officer whose signature or a facsimile
of whose signature shall appear on any bonds or coupons shall cease
to be such officer before the delivery of such bonds, such signature
or such facsimile shall nevertheless be valid and sufficient for all
purposes the same as if he had remained in office until such delivery.
All bonds issued under the provisions of Sections 259U-259AD,
inclusive, of this subtitle shall have and are hereby declared to have
all the qualities and incidents of negotiable instruments under the
negotiable instruments law of the State. The bonds may be issued
in coupon or in registered form, or both, as said Board of Regents
may determine, and provision may be made for the registration of
any coupon bonds as to principal alone and also as to both prin-
cipal and interest, and for the reconversion into coupon bonds of
any bonds registered as to both principal and interest. Said Univer-
sity may sell such bonds in such manner, either at public or private
sale, and for such price or prices, as it may determine to be for the
best interests of the State.