Louisiana Revised Statutes 39:1798.8 – Bonds; security; trust agreement; indenture
Terms Used In Louisiana Revised Statutes 39:1798.8
- Bonds: means bonds, notes, or any other evidence of indebtedness issued by the corporation. See Louisiana Revised Statutes 39:1798
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means the nonprofit corporation authorized to be formed by this Chapter, or any corporation succeeding to the principal functions thereof or to which the powers conferred upon the corporation by this Chapter shall be given by law. See Louisiana Revised Statutes 39:1798
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Public facilities: means buildings, parking garages, and related facilities used or to be used to house personnel, equipment, and/or services of the various agencies of the state government. See Louisiana Revised Statutes 39:1798
- State: means the state of Louisiana or any agency or instrumentality thereof. See Louisiana Revised Statutes 39:1798
- Trustee: A person or institution holding and administering property in trust.
In the discretion of the corporation, any bonds issued by it may be secured by a trust agreement or indenture by and between the corporation and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the state. Such trust agreement or indenture or the resolution providing for the issuance of such bonds may pledge or assign the revenues to be received from any lease of the public facilities. Such trust agreement, indenture, or resolution providing for the issuance of such bonds 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. Any such trust agreement, indenture, or resolution may set forth the rights and remedies of the bondholders and of the trustee or trustees and may restrict the individual right of action of bondholders. In addition to the foregoing, any such trust agreement, indenture, or resolution may contain such other provisions as the corporation may deem reasonable and proper for the security of bondholders.
Acts 1989, No. 805, §1, eff. July 8, 1989.