2022 Indiana Code
Title 21. Higher Education
Article 34. State Educational Institutions: Acquisition and Improvement of Building Facilities and Equipment; Bonds
Chapter 6. Issuance of Bonds
21-34-6-10. Resolutions and Indenture for Bonds

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.