WILLIAM DONALD SCHAEFER, Governor                    Ch. 735

(2)  Fix, revise, charge and collect rates, fees and
charges for the services furnished or to be furnished by the
Authority and contract with any person, including financial
institutions, loan originators, servicers, administrators,
issuers of letters of credit, and insurers;

(3)  Employ consultants, attorneys, accountants,
financial experts, loan processors, bankers, managers, and other
employees and agents as may be necessary in its judgment, and fix
their compensation;

(4)  Establish regulations, criteria or guidelines
with respect to Authority loans, education loans, and education
loan series portfolios;

(5)  Receive and accept from any source and in any
form, loans, appropriations, TRANSFERS FROM THE STATE RESERVE
FUND, contributions, gifts, or grants for or in aid of any
Authority purpose or education loan financing program and, when
required, use the funds, property or labor only for the purposes
for which it was provided;

(6)  Make Authority loans to institutions and require
that the proceeds of the loans be used for making education loans
and paying related loan costs and fees;

(7)  MAKE EDUCATION LOANS;

[(7)] (8) Charge to and apportion among participating
institutions its administrative and operating costs and expenses
incurred in the exercise of its powers and duties; and

[(8)] (9) Do all acts and things necessary or
convenient to carry out its corporate purposes and in such manner
and upon such procedure as the Authority may in its discretion
from time to time determine or prescribe.

18-1310.

(a) Any bonds issued under the provisions of this subtitle
may be secured by a trust agreement by and between ANY OR ALL OF
THE FOLLOWING:

(1)   [the] THE Authority[,];

(2)  [a] A participating institution[, ]; and

(3)  [a] A corporate trustee or trustees, which may be
any trust company or bank having the powers of a trust company
within or without the State.

18-1314.

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