| In the discretion of the board, any securities issued under |
| this Act may be secured by a trust agreement by and between the |
| board and a corporate trustee, which may be any trust company or |
| bank or national banking association having the powers of a trust |
| company within or without the State.__The trust agreement or the |
| resolution providing for the issuance of the securities may |
| pledge or assign all or any portion of the revenues of the board |
| or any project, projects or part of any project of the board and |
| may contain such provisions for protecting and enforcing the |
| rights and remedies of the holders of securities as may be |
| reasonable and proper and not in violation of law.__The |
| provisions may include covenants setting forth the duties of the |
| board in relation to: the acquisition of property; the |
| construction, reconstruction, renewal, replacement and insurance |
| of any project, projects or part of any project in connection |
| with which the securities have been authorized; the fees, charges |
| or rents to be charged or other payments to be made for the use |
| or payment for property; and the custody, safeguarding and |
| application of all money.__It is lawful for any bank or trust |
| company incorporated under the laws of the State that may act as |
| depository of the proceeds of securities or of revenues of the |
| board or any project, projects or part of any project to furnish |
| such indemnifying bonds or to pledge such instruments as may be |
| required by the board.__Any such trust agreement may set forth |
| the rights and remedies of the holders of the securities and of |
| the trustee and may restrict the individual right of action by |
| holders of securities. |
