§ 21-34-6-10 — Resolutions and indenture for bonds

Indiana § 21-34-6-10

• Jurisdiction: Indiana
• Title 21: HIGHER EDUCATION
• Art. 34: STATE EDUCATIONAL INSTITUTIONS:
• Ch. 6: Issuance of Bonds

Text

A resolution or indenture for bonds may
include provisions for:
(1) protecting and enforcing the rights and remedies of the holders
of the bonds being issued;
(2) covenants setting forth the duties of the state educational
institution and its officers in relation to:
(A) the acquisition, construction, operation, maintenance, use,
and abandonment of the building facility; and
(B) insurance of the building facility;
(3) the custody, safeguarding, application, and investment of all
money;
(4) the rights and remedies of the trustee and the holders of the
bonds being issued;
(5) the issuance of additional bonds as provided in the resolution
or indenture; and
(6) other terms, conditions, and covenants as the board of trustees
of the state educational institution determine are proper, including
provision for the establishment of a debt service reserve by:
(A) the use of bond proceeds or other sources;
(B) the furnishing of an insurance policy, surety bond, or letter
of credit; or
(C) any combination of clause (A) or (B).
[Pre-2007 Higher Education Recodification Citation:
20-12-6-7(c).]

Legislative History

As added by P.L.2-2007, SEC.275.