HARRY HUGHES, Governor

1169

interest on the loan, until such time as the default is
eliminated, provided that the University of Maryland may not
allow the United States Department of Housing and Urban
Development to take title to the housing units or any other
real property of the University of Maryland in the event and
on account of the default;

(4)  Evidence the borrowing by the execution of a
promissory note for the purpose of paying all of the
obligation secured by a first lien on and pledge of the net
or gross revenues to be derived from the housing units;

(5)  Issue promissory notes under the provisions
of this Act 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 the Act;

(6)  Establish and maintain separate bank
accounts and to segregate in the account the revenue
produced from the housing units related facilities as
required by the United States Department of Housing and
Urban Development;

(7)  Fix and revise, from time to time, fees,
rents and other charges for the use of the housing units;

(8)  Acquire, hold and dispose of real and
personal property in the exercise of its powers and the
performance of its duties under this Act;

(9)  Make and enter into all contracts and
agreements necessary or incidental to the performance of its
duties and the execution of its powers under this Act, and
employ consulting engineers, attorneys, construction and
financial experts and such other employees and agents as may
be necessary in the opinion of its board of regents and fix
their compensation; provided that all such acts and
agreements shall be payable solely from the proceeds of the
loan issued under the provisions of this Act, or from funds
otherwise provided;

(10)  Receive and accept from the United States
of America or any of its agencies grants for or in aid of
the construction of any housing unit or any part of a
housing unit, and receive and accept aid or contributions
from any source of either money, property, labor or other
things of value, to be held, used and applied only for the
purposes for which such grants and contributions may be
made; and

(11)  Do all acts and things necessary or
convenient to carry out the powers expressly granted by the
provisions of this Act.