SPIRO T. AGNEW, Governor                       1159

of said University be excluded from such use and appropriation;
and provided, further, that prior to and during construction and for
one year after completion of construction of any housing unit or
housing units for which bonds have been issued, the interest on
such bonds may be paid out of the proceeds of such bonds and/or
out of such other moneys as may be allocated for such purpose.

(f) The said Board of Regents may fix and revise, from time to
time, fees, rents and charges for the use of any existing housing
unit or existing housing units under the direction and control of
said Board of Regents and may designate and pledge all or any part
of such fees, rents, charges and other revenues from any such exist-
ing housing unit or existing housing units, as additional security
for the bonds authorized by Sections 259U-259AD, inclusive, of this
subtitle. The fees, rents, charges and revenues so designated and
pledged as additional security shall be subject to any pledge or assign-
ment provided in any trust agreement entered into pursuant to
Section 259X of this subtitle and shall be treated in all respects the
same as provided in Sections 259U-259AD, inclusive, of this subtitle
for fees, rents, charges and revenues received from the use of the
housing unit or housing units constructed from the proceeds of the
bonds issued under the provisions of Sections 259U-259AD, inclusive,
of this subtitle.

259X.

In the discretion of said University any bonds issued under the
provisions of Sections 259U-259AD, inclusive, of this subtitle, may 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 all or any part of
the income, fees, rents, charges and other revenues to be received
from the use of the housing unit or housing units (including the
related facilities) in connection with which the bonds secured by
such trust agreement shall be issued, and may pledge or assign all
or any part of the income, fees, rents, charges and other revenues
to be received from the use of any existing housing unit or housing
units (including the related facilities) as provided in subsection (f)
of Section 259W of this subtitle, but shall not convey or mortgage
any housing unit or any part thereof. Any such trust agreement
or any resolution providing for the issuance of such bonds may
contain such provisions 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 University in relation to the acquisition of property and the
construction, improvement, maintenance, repair, operation and in-
surance of the housing unit or housing units in connection with
which such bonds shall have been authorized, and in relation to the
improvement, maintenance, repair, operation and insurance of any
existing housing unit or housing units, the income, fees, rents,
charges and other revenues to be received from the use thereof have
been pledged or assigned as authorized by this section, and the
custody, safeguarding and application of all moneys, and provisions
for the employment of independent consultants in connection with
the construction or operation of such housing unit or housing units.
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