2436                                          LAWS OF MARYLAND                      [Ch. 710

of one over another; provided the Authority in any such
resolution or trust agreement may provide that such
sinking or other similar fund shall be the fund for a
particular project at an institution for higher education
or a hospital and for the bonds issued to finance a
particular project and may, additionally, permit and
provide for the issuance of bonds having a subordinate
lien in respect of the security herein authorized to
other bonds of the Authority and, in such case, the
Authority may create separate sinking or other similar
funds in respect of such subordinate lien bonds.

16.

Any holder of bonds issued under the provisions of
this article or of any of the coupons appertaining
thereto, and the trustee or trustees under any trust
agreement, except to the extent the rights herein given
may be restricted by any [such] resolution authorizing
the issuance of, or any [such] trust agreement securing,
such bonds, may, either at law or in equity, by suit,
action, mandamus or other proceedings, protect and
enforce any and all rights under the lavs of the State or
granted hereunder or under such resolution or trust
agreement, and may enforce and compel the performance of
all duties required by this article or by such resolution
or trust agreement to be performed by the Authority or by
any officer, employee or agent thereof, including the
fixing, charging and collecting of the rates, rents, fees
and charges herein authorized and required by the
provisions of such resolution or trust agreement to be
fixed, established and collected.

17.

The exercise of the powers granted by this article
will be in all respects for the benefit of the people of
the State, for the increase of their commerce, welfare
and prosperity, and for the improvement of their health,
education, and living conditions, and will constitute the
performance of an essential governmental function, and
neither the Authority nor its agent nor [the] ANY lessee
shall or may be required to pay any taxes or assessments
upon or in respect of a project or any property acquired
or used by the Authority or its agent or [the] ANY lessee
under the provisions of this article, or upon the income
therefrom, and any bonds issued under the provisions of
this article, their transfer and the income therefrom
including any profit made on the sale thereof, shall at
all times be free from taxation of every kind by the
State and by the municipalities and all other political
subdivisions of the State.

18.