Sec. 9. The resolution or the indenture for revenue obligations may include: (1) provisions for protecting and enforcing the rights and remedies of the holders of the revenue obligations being issued; (2) covenants setting forth the duties of the state educational institution and its officers in relation to: (A) the: (i) acquisition, construction, operation, and maintenance of; and (ii) insurance to be carried on; the property or properties on account of which the revenue obligations are being issued; and (B) the maintenance of fees and charges to be collected on account of the properties; (3) provisions for: (A) the custody, safeguarding, and application of all money; (B) the rights and remedies of the trustee and the holders of the obligations being issued; and (C) the issuance of additional parity obligations or junior lien obligations secured by pledge or mortgage of the revenues and property described in the resolution or indenture; and (4) the other terms, conditions, limitations, and covenants that the board of trustees determines proper. [Pre-2007 Higher Education Recodification Citation: 20-12-9-4 part.]
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