Any bond resolution of the authority may contain provisions that become part of the contract with the holders of the bonds to be authorized, as to:

1. (1) pledging or assigning the revenues of the project or projects with respect to which the bonds are to be issued;
2. (2) the rentals, fees, and other amounts to be charged, and the sums to be raised in each year, and the use, investment, and disposition of the sums;
3. (3) the setting aside of reserves or sinking funds, and the regulation, investment, and disposition of reserves or sinking funds;
4. (4) limitations on the use of the project;
5. (5) limitations on the purpose to which or the investments in which the proceeds of sale of any issue of bonds may be applied;
6. (6) limitations on the issuance of additional bonds, the terms upon which additional bonds may be issued and secured, the terms upon which additional bonds may rank on a parity with, or be subordinate or superior to, other bonds;
7. (7) the refunding of outstanding bonds;
8. (8) the procedure, if any, by which the terms of any contract with bond holders may be amended or abrogated, the amount of bonds the holders of which must give consent and the manner in which the consent may be given;
9. (9) defining the acts or omissions to act that constitute a default in the duties of the authority to holders of the authority's obligations and providing the rights and remedies of the holders in the event of a default;
10. (10) mortgaging the project or projects with respect to which any bonds are to be issued and other educational facilities conveyed to the authority for a purpose for the benefit of the holders of the bonds;
11. (11) the establishment of liability or other loss insurance reserves or the contribution of those reserves or other capital to a risk retention group to provide insurance coverage against liability claims or other losses; and

12. (12) any other matters relating to the bonds which the authority considers desirable.

    [Pre-2007 Higher Education Recodification Citation: 20-12-63-15(d).]

As added by P.L.2-2007, SEC.69.