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.
Indiana Legal Code