Indiana Code 13-26-10-13. Trust indenture to secure bonds
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Terms Used In Indiana Code 13-26-10-13
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Trustee: A person or institution holding and administering property in trust.
Sec. 13. The board may secure the revenue bonds by a trust indenture by and between the district and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or outside Indiana. However, a trust indenture may not convey or mortgage all or any part of the works.
[Pre-1996 Recodification Citation: 13-3-2-19(a).]
As added by P.L.1-1996, SEC.16.