BLAIR LEE III, Acting Governor

623

agreement by which a pledge is created need be filed or
recorded except in the records of said University. The use
and disposition of moneys to the credit of such sinking fund
shall be subject to the provisions of the resolutions
authorizing the issuance of such bonds or of such trust
agreement.

Notwithstanding any of the foregoing provisions of this
section, the University of Maryland may, by resolution
passed prior to the issuance of revenue bonds under the
provisions of §§ 27A—27J, inclusive, of this subtitle or in
the trust agreements securing such bonds, covenant to pay
all or any part of the cost of maintaining, equipping,
repairing and operating any housing unit or housing units,
and inasmuch as each such housing unit shall at all times
belong to the State, such covenant shall have the force of
contract between the University and the holders of the
revenue bonds or revenue refunding bonds issued on account
of such project or projects.

27F. Same—Moneys deemed to be trust funds; protection of
rights and enforcement of duties.

(a)   All moneys received by said University as proceeds
from the sale of bonds authorized by the provisions of §§
27A—27J, inclusive, and all moneys received by said
University by way of fees, rents, charges or other revenues
from the housing unit or housing units constructed from the
proceeds of said bonds, shall be deemed to be trust funds to
be held and applied solely as provided by the provisions of
§§ 27A-27J, inclusive, of this subtitle. In the event that
said University, by resolution or pursuant to the terms of a
trust agreement, shall elect to pledge or assign the income,
fees, rents, charges and other revenues to be received from
any related facility, all such moneys so received shall
likewise be deemed to be trust funds to be held and applied
solely as provided by the provisions of §§ 27A—27J,
inclusive, of this subtitle.

(b)   Any holder of bonds issued under the provisions of
§§ 27A—27J, inclusive, of this subtitle, or any of the
coupons appertaining thereto, and the trustee under any
trust agreement, except to the extent the rights herein
given may be restricted by such trust agreement or by the
resolution authorizing the issuance of 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 laws of the State or granted hereunder or under
such trust agreement or such resolution, and may enforce and
compel the performance of all duties required by the
provisions of §§ 27A—27J, inclusive, of this subtitle or by
such trust agreement or such resolution to be performed by
the University of Maryland or any officer thereof, including
the fixing, charging and collecting of fees, rents and
charges.

27G. Same—Exemption from taxation.