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Indiana Code Title 21. Higher Education § 21-35-5-9

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

Sec. 9. The resolution or the indenture for revenue obligations may include:

(1) provisions for protecting and enforcing the rights and remedies of the holders of the revenue obligations being issued;

(2) covenants setting forth the duties of the state educational institution and its officers in relation to:

(A) the:

(i) acquisition, construction, operation, and maintenance of; and

(ii) insurance to be carried on;

the property or properties on account of which the revenue obligations are being issued; and

(B) the maintenance of fees and charges to be collected on account of the properties;

(3) provisions for:

(A) the custody, safeguarding, and application of all money;

(B) the rights and remedies of the trustee and the holders of the obligations being issued; and

(C) the issuance of additional parity obligations or junior lien obligations secured by pledge or mortgage of the revenues and property described in the resolution or indenture; and

(4) the other terms, conditions, limitations, and covenants that the board of trustees determines proper.

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Cite this article: FindLaw.com - Indiana Code Title 21. Higher Education § 21-35-5-9 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-21-higher-education/in-code-sect-21-35-5-9/

Read this complete Indiana Code Title 21. Higher Education § 21-35-5-9 on Westlaw

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