181.750 Trust indenture may create a lien on the bridge property, when. No trust indenture shall convey or mortgage the bridge unless the trust indenture is <br>entered into for the purpose of securing bonds issued to acquire a bridge by purchase, in <br>which event the trust indenture may create a lien by way of deed of trust or mortgage <br>upon the bridge, and may contain reasonable provisions for the enforcement of the lien, <br>including, but without limiting the same by the particular statement thereof, and <br>provisions for the taking of possession and the sale by the trustee of the bridge, together <br>with the franchises for the operation thereof, in the event of failure to pay the principal <br>and interest of the bonds or any part thereof at the time appointed for the payment thereof, <br>or in the event of any other default under the terms of the indenture. Effective: October 1, 1942 <br>History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 3235g-19.
181.750 Trust indenture may create a lien on the bridge property, when. No trust indenture shall convey or mortgage the bridge unless the trust indenture is <br>entered into for the purpose of securing bonds issued to acquire a bridge by purchase, in <br>which event the trust indenture may create a lien by way of deed of trust or mortgage <br>upon the bridge, and may contain reasonable provisions for the enforcement of the lien, <br>including, but without limiting the same by the particular statement thereof, and <br>provisions for the taking of possession and the sale by the trustee of the bridge, together <br>with the franchises for the operation thereof, in the event of failure to pay the principal <br>and interest of the bonds or any part thereof at the time appointed for the payment thereof, <br>or in the event of any other default under the terms of the indenture. Effective: October 1, 1942 <br>History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 3235g-19.
181.750 Trust indenture may create a lien on the bridge property, when. No trust indenture shall convey or mortgage the bridge unless the trust indenture is <br>entered into for the purpose of securing bonds issued to acquire a bridge by purchase, in <br>which event the trust indenture may create a lien by way of deed of trust or mortgage <br>upon the bridge, and may contain reasonable provisions for the enforcement of the lien, <br>including, but without limiting the same by the particular statement thereof, and <br>provisions for the taking of possession and the sale by the trustee of the bridge, together <br>with the franchises for the operation thereof, in the event of failure to pay the principal <br>and interest of the bonds or any part thereof at the time appointed for the payment thereof, <br>or in the event of any other default under the terms of the indenture. Effective: October 1, 1942 <br>History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 3235g-19.
