Annotated Code of Maryland

(1997 Replacement Volume and 1998 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;

(7) Enter into all contracts and agreements necessary or incidental to
the performance of its duties and the execution of its powers under this title, and
employ consulting engineers, architects, attorneys, construction and financial
experts, and other employees and agents as may be necessary, and fix their
compensation;

(8) Receive and accept from the United States of America or any agency
thereof grants and loans for the purpose of financing or refinancing all or any part of
the costs of any 1 or more projects, and receive and accept aid or contributions from
any sources of money, property, labor, or other things of value, to be held, used, and
applied for the purposes for which such grants and contributions were made; and