§ 31-15-11 — Trustee for bondholders; contents of trust agreement; pledge or assignment of revenues

West Virginia § 31-15-11

• Jurisdiction: West Virginia
• Ch. 31: CORPORATIONS
• Art. 15: WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY

Text

For bonds or notes issued pursuant to the provisions of this article, in the discretion of the authority, any bonds or notes, including refunding bonds or notes issued by the authority, may be secured by a trust agreement between the authority and a corporate trustee, which trustee may be any bank or trust company within or without the state. Any such trust agreement may contain such binding covenants with the holders of such bonds or notes as to any matter or provisions as are deemed necessary or advisable to the authority to enhance the marketability and security of such bonds or notes and may also contain such other provisions with respect thereto as the authority may authorize and approve. Any resolution adopted by the authority or any trust agreement may contain a pledge or assignment of revenues to be received in connection with the financing.

Legislative History

1989 Reg. Sess., SB575; 1987 Reg. Sess., HB2823; 1981 Reg. Sess., SB335; 1977 Reg. Sess., SB561; 1962 Reg. Sess., SB7; 1961 Reg. Sess., SB40