(7) |
The board may, by appropriate provisions in the agreement:
(a) |
covenant as to the use which will be made of the project; |
(b) |
covenant as to the operation, maintenance, and supervision of the project; |
(c) |
covenant to collect fees and charges from all students and other persons availing themselves of the use of the accommodations and facilities of the project; |
(d) |
covenant to levy and collect student building fees from all regular and part-time students enrolled in the institution for the use and availability of the project; |
(e) |
covenant as to the collection, use, and disposition of the proceeds arising from the collection of all the revenues, fees, and charges; |
(f) |
covenant to impose and collect fees and charges in amounts adequate to pay all costs incurred in maintaining and operating the project and to pay the amortization of the acquisition cost of the project, including necessary equipment and furnishings, and interest on the unpaid part of the acquisition cost, whether represented by rental installments or otherwise; |
(g) |
covenant to pledge all revenues, fees, and charges, including student building fees, arising from the ownership and operation of the project to the payment of the rental installments provided for under the terms of the contract or lease agreement; |
(h) |
covenant as to the rights, liabilities, powers, and duties arising from the breach of any covenant or agreement contained in the agreement; |
(i) |
covenant and agree to carry any insurance on the project, and its use and occupancy, as the board considers desirable, and to provide that the cost of the insurance shall be included as a part of the cost of operating the project; |
(j) |
covenant to make and enforce such parietal rules and regulations with reference to the use of the facilities comprising the project, or any part of the project, and with reference to requiring any class of students to use the project, or any part of the project, as the board determines desirable for the institution; and |
(k) |
covenant against the pledging of the revenues, fees, and charges, including student building fees, arising from the ownership and operation of the project for any purpose other than the payment of the rental installments required to be paid under the agreement, or against the issuance of any obligations payable therefrom, unless the pledge or obligations are made subordinate to the agreement. Nothing in this section prevents the board from providing conditions and terms under which pledges may be made and obligations issued on a parity with the pledge of revenues, fees, and charges under the agreement. |
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