Section 21-34-6-10 - Resolutions and indenture for bonds 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).
As added by P.L. 2-2007, SEC.275.