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).
[Pre-2007 Higher Education Recodification Citation: 20-12-6-7(c).]
As added by P.L.2-2007, SEC.275.
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