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825
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HARRY HUGHES, Governor
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manner, either at public or private sale, and for such price or
prices, as it may determine to be for the best interests of the
State.
12E.
The board of trustees of the State [college] UNIVERSITIES
AND COLLEGES is hereby authorized (a) to fix, revise, charge and
collect fees, rents and other charges from any individual, or
group or association of individuals, authorized to use any
auxiliary facility or any part thereof and to make mandatory the
payments of such fees and charges; (b) to contract with any
individual, or group or association of individuals, authorized
and desiring to use any auxiliary facility or part thereof, for
the use of the same and to fix the terms, conditions, fees, rents
and rates of charges for such use; (c) to contract for the use of
all or any part of any auxiliary facility or auxiliary facilities
with any person, partnership, association, corporation, entity or
agency thereof desiring to use all or any part of such auxiliary
facility or auxiliary facilities and to fix the terms,
conditions, fees, rents and rates of charges for such use. The
fees, rents, charges and revenues designated as hereinafter
provided as security for any bonds issued pursuant to §§ 12A-12J,
inclusive, of this subtitle shall be so fixed and adjusted from
time to time as to provide a fund sufficient to pay (i) the cost
of maintaining, repairing and operating such auxiliary facility
in connection with which such bonds have been issued to the
extent such cost is not otherwise provided or covenanted to be
provided by the board of trustees of the State UNIVERSITIES AND
colleges as hereinafter permitted and (ii) the principal of and
the interest on such bonds as the same shall become due and
payable, and to create reserves for such purposes. Such fees,
rents and charges shall not be subject to supervision or
regulation by any other commission, board, bureau or agency of
the State. The fees, rents, charges and other revenues, or any
part thereof, (whether derived from the auxiliary facility in
connection with which the bonds of any issue shall have been
issued or from other auxiliary facilities) designated as security
for such bonds by the resolution authorizing the issuance of such
bonds or in the trust agreement securing the same shall be set
aside at such regular intervals as may be provided in such
resolution or such trust agreement in a sinking fund which is
hereby pledged to, and charged with, the payment of (1) the
interest upon such bonds as such interest shall fall due, (2) the
principal of such bonds as the same shall fall due, (3) the
necessary charges of paying agents, for paying principal and
interest, and (4) the redemption price or purchase price of bonds
retired by call or purchase as provided in said resolution or
trust agreement; any amounts set aside in such sinking fund which
are not needed to provide for the payment of such items (1), (2),
(3) and (4) may be used for any other lawful purpose to the
extent provided in such resolution or such trust agreement. Such
pledge shall be valid and binding from the time when the pledge
is made; such fees, rents, charges and other revenues or other
moneys so pledged and thereafter received by the board of
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