For bonds issued pursuant to this article, any bonds, including refunding bonds issued by the Authority, may be secured by a trust agreement between the Authority and a corporate trustee, which trustee may be any bank or trust company within or without the state.  Any such trust agreement may contain binding covenants with the holders of the bonds as to any matter or provisions as are considered necessary or advisable to the Authority to enhance the marketability and security of the bonds and may also contain such other provisions with respect thereto as the Authority may authorize and approve.  Any trust agreement may contain a pledge or assignment of revenues to be received in connection with the financing.

Terms Used In West Virginia Code 7-27-20

  • Authority: means the governmental entity created in section five, article fifteen, chapter thirty-one, of this code. See West Virginia Code 7-27-3
  • State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
  • Trustee: A person or institution holding and administering property in trust.