SPIRO T. AGNEW, Governor                        181

248F.

The Board of Trustees of St. Mary's College of Maryland is hereby
authorized (a) to fix, revise, charge and collect fees, rents and other
charges from any individual, or group or association of individuals,
authorized to use any housing unit or any part thereof and to make
mandatory the payments of such fees and charges; (b) to contract
with any individual, or group or association of individuals, author-
ized and desiring to use any housing unit or part thereof, for the
use of the same and to fix the terms, conditions, fees, rents and rates
of charges for such use; (c) to contract for the use of all or any
part of such housing unit or housing units with any person, partner-
ship, association, corporation, entity or agency thereof desiring to
use all or any part of such housing unit or housing units, and to fix
the terms, conditions, fees, rents and rates of charges for such use.
The fees, rents, charges and revenues from the housing unit or
housing units in connection with which the bonds of any issue have
been issued shall be so fixed and adjusted from time to time as to
provide a fund sufficient to pay (i) the cost of maintaining, repair-
ing and operating such housing unit or housing units and (ii) the
principal of and the interest on such bonds as the same shall become
due and payable, 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 housing
unit or housing units in connection with which the bonds of any
issue shall have been issued (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 resolution authorizing the issuance of such bonds
or in the trust agreement securing the same) shall be set aside at
such regular intervals as may be provided in such resolution or 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 pur-
chase price of bonds retired by call or purchase as provided in said
resolution or 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 re-
ceived by the Board of Trustees shall immediately 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 Board of Trustees, irrespective of whether
such parties have notice thereof. Neither the resolution nor any trust
agreement by which a pledge is created need be filed or recorded
except in the records of said Board of Trustees. The use and dis-
position of moneys to the credit of such sinking fund shall be sub-
ject to the provisions of the resolutions authorizing the issuance of
such bonds or of such trust agreement.

Notwithstanding any of the foregoing provisions of this section,
the Board of Trustees may, by resolution passed prior to the issuance
of revenue bonds under the provisions of Sections 248B-248K, in-
clusive, of this subtitle or in the trust agreements securing such
bonds, covenant to pay all or any part of the cost of maintaining,