2634

LAWS OF MARYLAND

[Ch. 550

OTHER REVENUES TO BE RECEIVED FROM THE USE OF THE HOUSING
UNIT OR UNITS, INCLUDING THE RELATED FACILITIES IN
CONNECTION WITH WHICH THE BONDS SECURED BY THE TRUST
AGREEMENT ARE ISSUED, BUT MAY NOT CONVEY OR MORTGAGE ANY
HOUSING UNIT OF ANY PART OF A UNIT. ANY TRUST AGREEMENT
OR ANY RESOLUTION PROVIDING FOR THE ISSUANCE OF BONDS MAY
CONTAIN PROVISIONS FOP PROTECTING AND ENFORCING THE
RIGHTS AND REMEDIES OF THE BONDHOLDERS REASONABLE AND
PROPER AND NOT IN VIOLATION OF LAW, INCLUDING COVENANTS
SETTING FORTH: (1) THE DUTIES OF THE BOARD IN RELATION TO
THE ACQUISITION OF PROPERTY, (2) THE CONSTRUCTION,
IMPROVEMENT, MAINTENANCE, REPAIR, OPERATION AND INSURANCE
OF THE HOUSING UNIT OR UNITS IN CONNECTION WITH WHICH
BONDS HAVE BEEN AUTHORIZED, (3) THE CUSTODY, SAFEGUARDING
AND APPLICATION OF ALL MONEYS, (4) PROVISIONS FOR THE
EMPLOYMENT OF INDEPENDENT CONSULTANTS IN CONNECTION WITH
THE CONSTRUCTION OF OPERATION OF THE HOUSING UNIT OR
UNITS. ANY BANK OR TRUST COMPANY INCORPORATED UNDER THE
LAWS OF THE STATE WHICH ACTS AS A DEPOSITORY OF THE
PROCEEDS OF THE BONDS OR REVENUES MAY FURNISH THE
INDEMNIFYING BONDS OR PLEDGE THE SECURITIES AS REQUIRED
BY THE BOARD. ANY TRUST AGREEMENT MAY PROVIDE THE RIGHTS
AND REMEDIES OF THE BONDHOLDERS AND TRUSTEE, AND RESTRICT
THE INDIVIDUAL RIGHT OF ACTION BY BONDHOLDERS AS IS
CUSTOMARY IN TRUST AGREEMENTS OR TRUST INDENTURES
SECURING BONDS AND DEBENTURES OF CORPORATIONS. ANY TRUST
AGREEMENT MAY CONTAIN OTHER PROVISIONS THE BOARD DEEMS
REASONABLE AND PROPER FOR THE SECURITY OF THE
BONDHOLDERS, INCLUDING COVENANTS TO ABANDON, RESTRICT OF
PROHIBIT THE CONSTRUCTION OR OPERATION OF COMPETING
FACILITIES AND COVENANTS PERTAINING TO THE ISSUANCE OF
ADDITIONAL PARITY BONDS UPON STATED CONDITIONS WITHIN THE
LIMITATIONS OF THIS SUBTITLE. THE RESOLUTION PROVIDING
FOR THE ISSUANCE OF BONDS IS A TRUST AGREEMENT IF IT
STIPULATES. ALL EXPENSES INCURRED IN CARRYING OUT THE
PROVISIONS OF ANY TRUST AGREEMENT MAY BE TREATED AS A
PART OF THE COST OF THE OPERATION OF THE HOUSING UNIT OR
UNITS.

78.

THE BOARD OF [[REGENT]] TRUSTEES OF MORGAN STATE
UNIVERSITY MAY: (A) 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 OF A UNIT AND MAKE MANDATORY THE
PAYMENTS OF THE FEES AND CHARGES; (B) CONTRACT WITH ANY
INDIVIDUAL, OR GROUP OR ASSOCIATION OF INDIVIDUALS,
AUTHORIZED AND DESIRING TO USE ANY HOUSING UNIT OR PART
OF A UNIT, FOR THE USE OF THE HOUSING UNIT OR PART AND TO
FIX THE TERMS, CONDITIONS, FEES, RENTS AND RATES OF
CHARGES FOR USE; (C) CONTRACT FOR THE USE OF ALL OR ANY
PART OF A HOUSING UNIT OR UNITS WITH ANY PERSON,
PARTNERSHIP, ASSOCIATION, CORPORATION, ENTITY OR AGENCY