Indiana § 5-1.3-6-17 Trust agreement

Indiana Statutes

§ 5-1.3-6-17 — Trust agreement

Indiana § 5-1.3-6-17

Title 5STATE AND LOCAL ADMINISTRATION

Art. 1.3LEASE FINANCING FOR RAIL PROJECTS FOR

Ch. 6Bonds and Notes

This text of Indiana § 5-1.3-6-17 (Trust agreement) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 5-1.3-6-17 (2026).

Text

(a)In the discretion of the IFA or the NWIRDA, any bonds and notes issued under this chapter may be secured by a trust agreement by and between the IFA or the NWIRDA and a corporate trustee, which may be any trust company or bank having the powers of a trust company in Indiana. Such a trust agreement may also provide for a co-trustee, which may be any trust company or bank in the United States.

(b)The trust agreement or the resolution providing for the issuance of the bonds or notes may contain provisions for protecting and enforcing the rights and remedies of the owners of bonds or notes as may be reasonable and proper, in the discretion of the IFA or the NWIRDA, and not in violation of law.

(c)The trust agreement or resolution may set forth the rights and remedies of the owners of any

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(a) In the discretion of the IFA or the
NWIRDA, any bonds and notes issued under this chapter may be
secured by a trust agreement by and between the IFA or the NWIRDA
and a corporate trustee, which may be any trust company or bank
having the powers of a trust company in Indiana. Such a trust
agreement may also provide for a co-trustee, which may be any trust
company or bank in the United States.
(b) The trust agreement or the resolution providing for the issuance
of the bonds or notes may contain provisions for protecting and
enforcing the rights and remedies of the owners of bonds or notes as
may be reasonable and proper, in the discretion of the IFA or the
NWIRDA, and not in violation of law.
(c) The trust agreement or resolution may set forth the rights and
remedies of the owners of any bonds or notes of the trustee and may
restrict the individual right of action by the owners.
(d) Any trust agreement or resolution may contain other provisions
that the IFA or the NWIRDA considers reasonable and proper for the
security of the owners of bonds or notes.
(e) All expenses incurred in carrying out the provisions of the trust
agreement or resolution may be paid from money pledged or assigned
to the payment of the principal of and interest on bonds or notes or
from funds available to the IFA or the NWIRDA.