Ch. 433

1995 LAWS OF MARYLAND

Article - Education

Section 19-102(a)

Annotated Code of Maryland

(1992 Replacement Volume and 1994 Supplement)

BY repealing and reenacting, with amendments,

Article - Education

Section 19-102(c)
Annotated Code of Maryland ,
(1992 Replacement Volume and 1994 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Education

19-102.

. (a) In order to provide auxiliary and academic facilities a system may:

(1)     Acquire, construct, reconstruct, equip, maintain, repair, renovate, and
operate auxiliary and academic facilities at any of its campuses or locations, now existing
or hereafter acquired;

(2)     (i) Issue bonds for the purpose of financing or refinancing all or any
part of the costs of any 1 or more projects of a system, including any project previously
financed by a system or any predecessor; or

(ii) Issue bonds for the purpose of acquiring any auxiliary facility or
academic facility previously financed through a capital lease with a system or any
predecessor;

(3)     Establish 1 or more trust funds for the deposit of the proceeds of the
bonds of any issue and retain the interest revenue or other investment income thereon to
be applied to the costs of any project, but shall maintain separate accounts within any
such trust funds for auxiliary facilities and for academic facilities;

(4)     Fix, revise, charge, and collect auxiliary facilities fees and academic fees
and pledge all or any part of such auxiliary facilities fees and academic fees as security for
bonds issued for auxiliary and academic facilities by a system;

(5)     Establish 1 or more trust funds for the deposit of any auxiliary facilities
fees and academic fees which may be imposed pursuant to this subtitle, and retain the
interest revenue or other investment income thereon, for the purpose of acquiring,
constructing, reconstructing, renovating, equipping, maintaining, repairing, and operating
auxiliary and academic facilities;

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

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