BLAIR LEE III, Acting Governor                          637

—Bonds may be issued under the provisions of §§ 27U—27AD,
inclusive, of this subtitle without obtaining the consent of
any department, division, commission, board, bureau, or
agency of the State, and without any other proceedings or
the happening of any other conditions or things than those
proceedings, conditions or things which are specifically
required by the provisions of §§ 27U—27AD, inclusive, of
this subtitle. The provisions of §§ 9—11, inclusive, of
Article 31 of the Annotated Code of Maryland (1957 Edition) ,
and any amendments thereto, shall not apply to revenue bonds
issued under the provisions of §§ 27D—27AD, inclusive, of
this subtitle.

(e)   Not to constitute obligation of State; payment of
principal and interest. —Any bonds issued under the
authority of §§ 27U—27AD, inclusive, of this subtitle shall
not create or constitute any indebtedness or obligation of
the State of Maryland or of any political subdivision
thereof, except said University, either legal, equitable,
moral or otherwise, and the bonds snail so state on their
face; nor shall such bonds constitute a debt or obligation
contracted by the General Assembly or pledge the faith and
credit of the State within the meaning of § 34 of Article
III of the Constitution of the State. Subject to the
provisions of subsection (f), only 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 §§ 27U—27AD, inclusive of
this subtitle shall be used or appropriated for the payment
of the interest on or the principal of such bonds; provided,
however, that all or any part of the fees, rents, charges
and revenues received from the use of the related facilities
in the housing unit or housing units constructed from the
proceeds of the bonds issued under the provisions of §§
27U—27AD, inclusive, of this subtitle, may at the option of
said University be excluded from such use and appropriation;
and provided, further, that prior to and during construction
and for one year after completion of construction of any
housing unit or housing units for which bonds have been
issued, the interest on such bonds may be paid out of the
proceeds of such bonds and/or out of such other moneys as
may be allocated for such purpose.

(f)   Additional security for bonds. —The said board
of regents may fix and revise, from time to time, fees,
rents and charges for the use of any existing housing unit
or existing housing units under the direction and control of
said board of regents and may designate and pledge all or
any part of 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 §§
27U-27AD, 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 §
27X of this subtitle and shall be treated in all respects
the same as provided in §§ 27U—27AD, inclusive, of this
subtitle for fees, rents, charges and revenues received from