(1) The ordinance authorizing bonds may provide for the execution by the chief executive officer of the issuer of a trust indenture that: Defines the rights of the owners of the bonds; and
(2) Provides for the appointment of a trustee for the owners of the bonds.
(3) A trust indenture executed under this section may: Provide for the priority between and among successive issues; and
(4) Contain one (1) or more of the provisions stated in § 14-164-809 and any other terms, covenants, and conditions that are deemed desirable.
History Acts 2015, No. 1275, § 1.