BLAIR LEE III, Acting Governor                          631

credit of such sinking fund shall be subject to the
provisions of the trust agreement. Any trust agreement by
which a pledge is created need not be filed or recorded
except in the records of said University.

Notwithstanding any of the foregoing provisions of this
section, the University of Maryland may, in the trust
agreement securing such bonds, covenant to pay all or any
part of the cost of maintaining, equipping, repairing and
operating any dormitory or dormitories, and inasmuch as each
such dormitory 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.

27P. DORMITORIES [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 §§
27K—27T, inclusive, and all moneys received by said
University by way of fees, rents, charges or other revenues
assigned or pledged as security for the bonds shall be
deemed to be trust funds to be held and applied solely as
provided by the provisions of §§ 27K—27T, inclusive, of this
subtitle.

(b)   Any holder of bonds issued under the provisions of
§§ 27K—27T, 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 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, and may enforce and compel the performance
of all duties required by the provisions of §§ 27K—27T,
inclusive, or this subtitle or by such trust agreement to be
performed by the University of Maryland or any officer
thereof, including the fixing, charging and collecting of
fees, rents and charges.

27Q. Same—Exemption from taxation.

The exercise of the powers granted by the provisions of
§§ 27K-27T, inclusive, of this subtitle will be in all
respects for the benefit of the people of this State, for
the increase of their education and prosperity, and for the
improvement of their health, living conditions and general
welfare, and as the operation and maintenance of said
facilities and accommodations by said University will
constitute the performance of essential governmental
functions, said University shall not be required to pay any
taxes or assessments upon any building or buildings or any
property, real, personal or mixed, acquired or used by said
University under the provisions of §§ 27K—27T, inclusive, of
this subtitle or upon the income therefrom; and the bonds
issued under the provisions of §§ 27K—27T, inclusive, of