Pennsylvania Statutes Title 24 P.S. Education § 5105.2. Agreements with bondholders; lien of pledge

(1) Pledging revenues of the agency to secure the payment of the bonds, notes or other obligations subject to such agreements with holders of obligations of the agency as may then exist.

(2) Pledging assets of the agency to secure the payment of the bonds, notes or other obligations subject to such agreements with holders of obligations of the agency as may then exist.

(3) The setting aside of reserves or sinking funds and the regulation and disposition thereof.

(4) Limitations on the purpose to which the proceeds of sale of bonds, notes or other obligations may be applied and pledging such proceeds to secure the payment of the bonds, notes or other obligations or of any issue thereof.

(5) Limitations on the issuance and terms of additional bonds, notes or other obligations and the refunding of outstanding or other bonds, notes or other obligations.

(6) The procedure, if any, by which the terms of any contract with noteholders or bondholders may be amended or abrogated, the amount of bonds, notes or other obligations the holders of which must consent to such amendment or abrogation and the manner in which such consent may be given.

(7) Vesting in a trustee or trustees such property, rights, powers and duties in trust as the board of directors may determine, which may include any or all of the rights, powers and duties of the trustee appointed by the bondholders pursuant to this act and limiting or abrogating the right of the bondholders to appoint a trustee under this act or limiting the rights, powers and duties of such trustee.

(8) Defining the acts which shall constitute a default in the obligations and duties of the agency to the holders of the bonds, notes or other obligations and providing for the rights and remedies of the holders of the bonds, notes and other obligations in case of such default, but such rights and remedies shall not be inconsistent with the general laws of this Commonwealth and the other provisions of this act.

(9) Any other matters, of like or different character, which in any way affect the security or protection of the holders of the bonds, notes or other obligations.