(a) Bonds shall be authorized by resolution of the Director of the Department of Parks and Tourism.
(b) The authorizing resolution may contain or may provide for the execution of a trust indenture which may contain any other terms, covenants, and conditions that are deemed desirable by the director, including, without limitation, those pertaining to:
(1) The maintenance of various funds and reserves;
(2) The nature and extent of revenue pledges and security;
(3) The conditions precedent to the issuance of additional bonds and the priority of lien and pledge in that event;
(4) The custody and application of the proceeds of the bonds;
(5) The collection and disposition of revenues;
(6) The investing and reinvesting in securities specified by the director of any moneys during periods not needed for authorized purposes; and
(7) The rights, duties, and obligations of the director and of the holders and registered owners of the bonds.
Section: Previous 13-5-302 13-5-307 13-5-308 13-5-309 13-5-310 13-5-311 13-5-312 13-5-313 13-5-314 13-5-315 13-5-316 13-5-317 13-5-318 13-5-319 NextLast modified: November 15, 2016