Sec. 8. The legislative body may secure bonds issued under this chapter by a trust indenture between the municipality and a corporate trustee. The corporate trustee may be any trust company, national bank, or state bank that is in Indiana and has trust powers. A trust indenture entered into under this section may contain any provisions agreed upon by the municipality and the trustee that are not inconsistent with this chapter.
As added by P.L.23-1984, SEC.18.
Structure Indiana Code
Article 9. Transportation and Public Works
Chapter 32. Financing of Public Improvements in Municipalities
36-9-32-1. Application of Chapter
36-9-32-2. Legislative Findings and Declaration
36-9-32-4. Loan Agreements; Loan of Grant Proceeds; Pledge of Revenues to Secure Bonds
36-9-32-6. Ordinances Approving Issuance of Bonds
36-9-32-8. Trust Indentures to Secure Bonds
36-9-32-9. Enforcement by Owner of Bonds or Trustee
36-9-32-10. Impairment of Rights and Remedies of Owners of Bonds
36-9-32-11. Liability for Property and Special Taxing District Taxes