LD 1161
pg. 12
Page 11 of 30 An Act to Create the East-West Highway Authority Page 13 of 30
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LR 1359
Item 1

 
otherwise against the authority irrespective of whether those
parties have notice of that lien.__Neither the resolution, trust
indenture nor any other instrument by which a pledge is created
need be recorded.

 
The authority may, in the resolution authorizing prospective
issues, provide as to those bonds:

 
A.__The manner of executing the bonds and coupons;

 
B.__The form and denomination of the bonds;

 
C.__Maturity dates not more than 25 years from the date or
dates of issuance, excluding the period, if any, during
which__bond anticipation notes are outstanding;

 
D.__The interest rate or rates on the bonds, which may be
fixed or variable or a combination of both;

 
E.__For the redemption prior to maturity and the premium
payable for the bonds;

 
F.__The place or places for the payment of interest and
principal;

 
G.__For registration if the authority determines it to be
desirable;

 
H.__For the pledge of all or any of the operating revenues
of the East-West Highway for securing payment;

 
I.__For the replacement of lost, destroyed or mutilated
bonds;

 
J.__The setting aside of revenue and sinking funds and the
regulation and disposition of these revenues and funds and
for limitations on reserves, if any, established for capital
outlay from operating revenues;

 
K.__For limitations on the issuance of additional bonds;

 
L.__For the procedure, if any, by which the contract with
the bondholders may be abrogated or amended;

 
M.__For the manner of sale, which may be public or private,
and purchase of the bonds;

 
N.__For covenants against pledging any or certain parts of
the operating revenues of the East-West Highway;


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