Delaware Code > Title 16 > Chapter 14 > § 1412 - Trust agreements to secure bonds; pledges and assignments; contents of authorizing resolutions; depositaries for bond sales proceeds
Current as of: 2011
(a) In the discretion of the authority, any revenue bonds issued under this chapter may be secured by a trust agreement by and between the authority and a corporate trustee, which may be any trust company or bank having the powers of a trust company.
(b)(1) The resolution authorizing the issuance of the bonds or the trust agreement may pledge or assign the revenues to be received from the operation of the project or projects on account of which the bonds are issued and, in the case of bonds issued to finance a sewerage system, may pledge or assign as security for such bonds the revenues to be received from its water system to the extent authorized by § 1411 of this title, but shall not convey or mortgage any project or any part thereof, and 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 acquisitions, construction, improvement, maintenance, operation, repair and insurance of the project or projects on account of which such bonds are issued, and provisions for the custody, safeguarding and application of all moneys and for the employment of consulting engineers in connection with such construction, reconstruction or operation.
(2) Such resolution or trust agreement may set forth the rights and remedies of the bondholders and of the trustees in the case of a trust agreement and may restrict the individual right of action by bondholders as is customary in trust agreements or trust indentures securing bonds or debentures of corporations.
(3) In addition to the foregoing, such resolution or trust agreement may contain such other provisions as the authority may deem reasonable and proper for the security of the bondholders.
(c) Except as is in this chapter otherwise provided, the authority may provide for the payment of the proceeds of the sale of the bonds and its revenues to such officer, board or depositary as it may designate for the custody thereof and for the method of disbursement thereof, with such safeguards and restrictions as it may determine.
(d) All expenses incurred in carrying out such resolution or trust agreement may be treated as a part of the cost of operation of the project or projects.
Questions & Answers: Water Pollution
Delaware Laws: Water Pollution
U.S. Code Provisions: Water Pollution
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Current as of: 2010
(a) It is the duty of each and every company, corporation, or individual, owning, operating, or managing such a company in this state, to send to the department of transportation at its office in Nashville, the monthly, quarterly, and annual statements of the operations of such company or individual, if such reports are issued; if not, then such company or individual shall send such reports as may be issued at any special or regular time. The president or chief officer of each and every such company shall, on or before February 1 of each year, make and transmit to the department of transportation at its office in Nashville, under oath of the president or chief officer of the company, a full and true statement of the affairs of the company as the same existed on the preceding January 1, in accordance with the direction and schedules prepared and furnished by the department of transportation.
(b) All common carriers shall send a copy of all safety inspection reports of such common carrier's tracks or track system which are prepared for or made by the federal railroad administration to the department of transportation. "Common carrier" is understood not to apply to private in-plant or intra-plant trackage owned or leased by private corporations which do not engage in serving the public as common carriers.
(c) Any officer, agent, or employee failing or refusing to make, under oath, any report required by the department of transportation, within the time required, or failing or refusing to answer fully under oath, if required, any inquiry propounded by the department of transportation, or who shall, in any way, hinder or obstruct the department of transportation, in the discharge of its duties, commits a Class C misdemeanor.
[Acts 1897, ch. 10, §§ 12, 13; Shan., §§ 3059a37, 3059a38; Code 1932, §§ 5413, 5414; Acts 1979, ch. 423, § 1; T.C.A. (orig. ed.), §§ 65-308, 65-309; Acts 1989, ch. 591, § 113; 1995, ch. 305, § 10.]
U.S. Code Provisions: Utilities
Federal Regulations: Utilities