Rights and Remedies of Bondholders. The resolution may also contain any provisions for protecting and enforcing the rights and remedies of the bondholders that are reasonable and proper and not in violation of law, including covenants setting forth the duties of the municipality and the municipal officers in relation to: A. The acquisition, construction, reconstruction, improvement, repair, maintenance, operation and insurance of any revenue-producing municipal facility or related system or systems; [PL 1987, c. 737, Pt. A, §2 (NEW); PL 0000, x. 000, Xx. X, §000 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).] B. The fixing and revising of rates, fees and charges; [PL 1987, c. 737, Pt. A, §2 (NEW); PL 0000, x. 000, Xx. X, §000 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).] C. The custody, safeguarding and application of all money; and [PL 1987, c. 737, Pt. A, §2 (NEW); PL 0000, x. 000, Xx. X, §000 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).] D. The employment of consulting engineers in connection with the acquisition, construction, reconstruction or operation. [PL 1987, c. 737, Pt. A, §2 (NEW); PL 0000, x. 000, Xx. X, §000 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).] The resolution or trust agreement may contain any other provisions that the municipal officers consider reasonable and proper for the security of the bondholders. The resolution or trust agreement may set forth the rights and remedies of the bondholder and of the trustee, if any, 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. [PL 1987, c. 737, Pt. A, §2 (NEW); PL 0000, x. 000, Xx. X, §000 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
Appears in 5 contracts
Samples: Trust Agreement, Trust Agreement, Trust Agreement
Rights and Remedies of Bondholders. The resolution may also contain any provisions for protecting and enforcing the rights and remedies of the bondholders that are reasonable and proper and not in violation of law, including covenants setting forth the duties of the municipality and the municipal officers in relation to:
A. The acquisition, construction, reconstruction, improvement, repair, maintenance, operation and insurance of any revenue-producing municipal facility or related system or systems; [PL 1987, c. 737, Pt. A, §2 (NEW); PL 00001987, x. 000c. 737, XxPt. XC, §000 106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
B. The fixing and revising of rates, fees and charges; [PL 1987, c. 737, Pt. A, §2 (NEW); PL 00001987, x. 000c. 737, XxPt. XC, §000 106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
C. The custody, safeguarding and application of all money; and [PL 1987, c. 737, Pt. A, §2 (NEW); PL 00001987, x. 000c. 737, XxPt. XC, §000 106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
D. The employment of consulting engineers in connection with the acquisition, construction, reconstruction or operation. [PL 1987, c. 737, Pt. A, §2 (NEW); PL 00001987, x. 000c. 737, XxPt. XC, §000 106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).] The resolution or trust agreement may contain any other provisions that the municipal officers consider reasonable and proper for the security of the bondholders. The resolution or trust agreement may set forth the rights and remedies of the bondholder and of the trustee, if any, 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. [PL 1987, c. 737, Pt. A, §2 (NEW); PL 00001987, x. 000c. 737, XxPt. XC, §000 106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
Appears in 4 contracts
Samples: Trust Agreement, Trust Agreement, Trust Agreement