622

LAWS OF MARYLAND

Ch. 22

trust agreement may be treated as a part of the cost of the
operation of the housing unit or housing units.

27E. Same—Fees, rents and charges; sinking fund; covenant
of University to pay cost.

The University 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 maintaining, repairing 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, 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 purchase 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
received by the University 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 University, irrespective of whether such parties have
notice thereof. Neither the resolution nor any trust