BLAIR LEE III, Acting Governor                          629

University nor the State nor any political subdivision
thereof shall be obligated to pay the same or the interest
thereon except from revenues of dormitories, and a statement
to the effect that neither the faith and credit nor the
taxing power of the State or any political subdivision
thereof is pledged to the payment of or the interest on such
bonds.

(f) Additional security for bonds. —The said
University of Maryland may increase from time to time, fees,
rents and charges for the use of any existing housing unit
or existing housing units under its direction and control
and may designate and pledge all or any part of such
increase in such fees, rents, charges and other revenues
from any such existing housing unit or existing housing
units, as additional security for the bonds authorized by §§
27K—27T, inclusive, of this subtitle- The fees, rents,
charges and revenues so designated and pledged as additional
security shall be subject to any pledge or assignment
provided in any trust agreement entered into pursuant to §
27N of this subtitle and shall be treated in all respects
the same as provided in §§ 27K—27T, inclusive, of this
subtitle for fees, rents, charges and revenues received from
the use of the housing unit or housing units constructed
from the proceeds of the bonds issued under the provisions
of §§ 27K—27T, inclusive, of this subtitle.

27N. Same—Trust agreement securing bonds.

Bonds issued under the provisions of §§ 27K—27T,
inclusive, of this subtitle, shall be secured by a trust
agreement by and between said University and a corporate
trustee, which may be any trust company or bank having the
powers of a trust company within or without the State. Any
such trust agreement may pledge or assign the income, fees,
rents, charges and other revenues to be received from the
use of the dormitory or dormitories in connection with which
the bonds secured by such trust agreement shall be issued
and may pledge or assign the income, fees, rents, charges,
and other revenues to be received from the use of other
dormitories under the control of the University, but shall
not convey or mortgage any dormitory- Any such trust
agreement may contain such provisions for protecting and
enforcing the rights and remedies of the bondholders as may
be reasonable and proper and not in violation of law,
including covenants setting forth the duties of said
University in relation to the acquisition of property, the
construction of any dormitory or dormitories and the
extension, enlargement, improvement, maintenance, operation,
repair and insurance of any dormitory or dormitories, 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 any
dormitory or dormitories. 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 University. Any