LD 1868
pg. 17
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LR 1834
Item 1

 
8.__Vesting of rights in trustee; powers and duties in trust.__
Vesting a trustee or trustees with such property, rights, powers
and duties in trust as the board may determine, which may include
any or all of the rights, powers and duties of the trustee
appointed for the holders of securities issued pursuant to this
Act;

 
9.__Default.__Defining the acts or omissions to act that
constitute a default in the obligations and duties of the board
to the holders of the securities and providing for the rights and
remedies of the holders of the securities in the event of that
default, including as a matter of right the appointment of a
receiver, but only if the rights and remedies are not
inconsistent with the general laws of the State and this Act; and

 
10.__Other matters.__Other matters that in any way affect the
security or protection of the holders of the securities.

 
§6417.__Trust funds

 
All money received by the board is considered trust funds to
be held and applied solely as provided in this Act.__An officer
to whom or to a bank, trust company or other fiscal agent or
trustee to which that money is paid shall act as trustee of the
money and shall hold and apply the money for the purpose of this
Act, subject to such rules as may be adopted by the board
pursuant to this Act and as the resolution or trust agreement may
provide.

 
§6418.__Remedies

 
A holder of securities issued under this Act or of any of the
coupons appertaining to the securities, and the trustee under any
resolution or trust agreement, except to the extent the rights
given may be restricted by the resolution authorizing the
issuance of the securities or the trust agreement or an
applicable financial document may, either by action, mandamus or
other proceeding, protect and enforce all rights under the laws
of the State or granted under this Act or under the resolution,
financial document or trust agreement, including the appointment
of a receiver, and may enforce and compel the performance of all
duties required by this Act or by the resolution, financial
document or trust agreement to be performed by the board,
including the collecting of rates, rents, fees and charges for
the use of any or all of its facilities for any project, projects
or part of any project.__Any such suit, action or proceeding must
be brought for the benefit of all the holders of the securities
and coupons, subject to the terms of any such resolution, trust
agreement or financial document.

 
§6419.__Revenue refunding securities


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