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Indiana Code Title 21. Higher Education § 21-34-6-10

Current as of January 02, 2024 | Updated by FindLaw Staff

Sec. 10. 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).

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Cite this article: FindLaw.com - Indiana Code Title 21. Higher Education § 21-34-6-10 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-21-higher-education/in-code-sect-21-34-6-10/

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