BLAIR LEE III, Acting Governor                            1815

(1)    Restore and reconstruct, equip,
maintain, repair and operate homes on the site known as
Pascualt Row in Baltimore City for student apartments;

(2)    Borrow money for that purpose from
the United States Department of Housing and Urban
Development;

(3)    Allow the United States Department of
Housing and Urban Development to take custody of the housing
units for management and operation in the event of default
by the University in the payment of the principal of and
interest on the loan, until such time as the default is
eliminated, provided that the University of Maryland may not

allow the__United States Department of Housing and Urban

Development to take title to the housing units or any other
real property of the University of Maryland in the event and
on account of the default;

(4)    Evidence the borrowing by the
execution of a promissory note for the purpose of paying all
of the obligation secured by a first lien on and pledge of
the net or gross revenues to be derived from the housing
units;

(5)    Issue promissory notes under the
provisions of this Act without obtaining the consent of any
department, division, commission, board, bureau, or agency
of the State, and without any other proceedings or the
happening of any other conditions or things than those
proceedings, conditions or things which are specifically
required by the provisions of this Act;

(6)    Establish and maintain separate bank
accounts and to segregate in the account the revenue
produced from the housing units related facilities as
required by the United States Department of Housing and
Urban Development;

(7)    Fix and revise, from time to time,
fees, rents and other charges for the use of the housing
units;

(8)    Acquire, hold and dispose of real and
personal property in the exercise of its powers and the
performance of its duties under this Act;

(9)    Make and enter into all contracts   and
agreements necessary or incidental to the performance of   its
duties and the execution of its powers under this Act,      and
employ consulting engineers, attorneys, construction   and
financial experts and such other employees and agents as   may
be necessary in the opinion of its board of regents and      fix
their compensation; provided that all such acts and
agreements shall be payable solely from the proceeds of     the
loan issued under the provisions of this Act, or from funds
otherwise provided;