606

LAWS OF MARYLAND

Ch. 22

bondholders as may be reasonable and proper and not in
violation of law, including covenants setting forth the
duties of said board of trustees in relation to the
acquisition of property and the construction, improvement,
maintenance, repair, operation and insurance of the housing
unit or housing units in connection with which such bonds
shall have been authorized, 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 of bonds or of revenues to
furnish such indemnifying bonds or to pledge such securities
as may be required by said board of trustees. Any such
trust agreement may set forth the rights and remedies of the
bondholders and of the trustee, and may restrict the
individual right of action by bondholders as is customary in
trust agreements or trust indentures securing bonds and
debentures of corporations. In addition to the foregoing,
any such trust agreement may contain such other provisions
as said board of trustees may deem reasonable and proper for
the security of the bondholders, including covenants to
abandon, restrict or prohibit the construction or operation
of competing facilities and covenants pertaining to the
issuance of additional parity bonds upon conditions stated
therein within the limitations of §§ 14B—14K, inclusive, of
this subtitle, as amended from time to time. The
resolution providing for the issuance of bonds may itself
constitute a trust agreement if so provided in such
resolution. All expenses incurred in carrying out the
provisions of any such trust agreement may be treated as a
part of the cost of the operation of the housing unit or
housing units.

14F. Same—-Fees, rents and charges; sinking fund; covenant
of board of trustees to pay cost.

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,
authorized 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, partnership,
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