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D.C. Code § 42-2704.04

Trust indenture to secure bonds or notes; provisions protecting holders; expenses treated as operating expenses

Mar. 3, 1979, D.C

(a) The Agency may secure bonds, notes, or other obligations by a trust indenture between the Agency and a corporate trustee which has the authority to exercise corporate trust powers within the District.

(b) A trust indenture of the Agency may contain provisions for protecting and enforcing the rights and remedies of holders of bonds or notes in accordance with the provisions of the resolution authorizing the sale of bonds or notes.

(c) The Agency may treat expenses incurred in carrying out a trust indenture as operating expenses.

Official source: D.C. Law Library (Council of the District of Columbia). Reproduced from public-domain District of Columbia statutes; confirm against the official source for the current text. Not legal advice.