The bonds may be secured by a trust indenture by and between the authority and a corporate trustee which may be any bank having the power of a trust company or any trust company within or without the state. Such trust indenture may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including covenants setting forth the duties of the authority in relation to the exercise of its powers and the custody, safekeeping and application of all money. The authority may provide by the trust indenture for the payment of the proceeds of the bonds and the revenue to the trustee under the trust indenture or other depository, and for the method of disbursement thereof, with such safeguards and restrictions as the authority may determine. All expenses incurred in carrying out the trust indenture may be treated as a part of the operating expenses of the authority. If the bonds shall be secured by a trust indenture, the bondholders shall have no authority to appoint a separate trustee to represent them.
Structure Mississippi Code
Chapter 73 - Hospital Equipment and Facilities Authority Act
§ 41-73-3. Legislative findings; declaration of public purpose
§ 41-73-9. Terms of members of authority; vacancies; removal; oath
§ 41-73-11. Officers of authority; per diem and expenses of members
§ 41-73-13. Quorum; vote required for action
§ 41-73-15. Regular and called meetings
§ 41-73-19. Additional officers, agents or employees
§ 41-73-23. State office or position not forfeited by virtue of authority membership or service
§ 41-73-27. Powers of authority
§ 41-73-29. Duties of authority
§ 41-73-35. Authority may issue bonds; purposes; authorization; issuance
§ 41-73-39. Disposition of proceeds; administrative expenses
§ 41-73-41. Refunding bonds authorized
§ 41-73-45. Contracts with bond holders; contents
§ 41-73-49. Bonds to be general obligation bonds; additional security authorized
§ 41-73-55. Repurchase of bonds; cancellation
§ 41-73-57. Bonds are negotiable instruments, subject to registration provisions of bonds
§ 41-73-59. Immunity from liability
§ 41-73-61. Funds and accounts
§ 41-73-63. Deposits; checks; security for deposits
§ 41-73-65. Payment of expenses of authority; state and political subdivisions to be held harmless
§ 41-73-69. Bonds of authority as legal investments and as security for public deposits
§ 41-73-71. Annual report of authority
§ 41-73-73. State officers and agencies to cooperate with authority