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.
[Pre-2007 Higher Education Recodification Citation: 20-12-9-4 part.]
As added by P.L.2-2007, SEC.276.
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