(a) The ordinance authorizing bonds may provide for the execution by the chief executive officer of the issuer of a trust indenture that:
(1) Defines the rights of the owners of the bonds; and
(2) Provides for the appointment of a trustee for the owners of the bonds.
(b) A trust indenture executed under this section may:
(1) Provide for the priority between and among successive issues; and
(2) Contain one (1) or more of the provisions stated in ยง 14-164-809 and any other terms, covenants, and conditions that are deemed desirable.
Section: Previous 14-164-803 14-164-804 14-164-805 14-164-806 14-164-807 14-164-808 14-164-809 14-164-810 14-164-811 14-164-812 14-164-813 14-164-814 14-164-815 14-164-816 14-164-817 NextLast modified: November 15, 2016