[§201H-76]  Trust indenture.  (a)  A
trust indenture may contain covenants and provisions authorized by part III of
chapter 39, and as deemed necessary or convenient by the corporation for the
purposes of this part.



(b)  A trust indenture may allow the corporation
to pledge and assign to the trustee agreements related to the housing project
or projects or loan program and the rights of the corporation thereunder,
including the right to receive revenues thereunder and to enforce the provision
thereof.



(c)  Where a trust indenture provides that any
bond issued under that trust indenture is not valid or obligatory for any
purpose unless certified or authenticated by the trustee, all signatures of the
officers of the State upon the bonds required by section 39-56 may be
facsimiles of their signatures.



(d)  A trust indenture shall also contain
provisions as to:



(1)  The investment of the proceeds of the bonds, the
investment of any reserve for the bonds, the investment of the revenues of the
housing project or system of housing projects or the loan program, and the use
and application of the earnings from investments; and



(2)  The terms and conditions upon which the holders
of the bonds or any portion of them or any trustee thereof may institute
proceedings for the enforcement of any agreement or any note or other
undertaking, obligation, or property securing the payment of the bonds and the
use and application of the moneys derived therefrom.



(e)  A trust indenture may also contain
provisions deemed necessary or desirable by the corporation to obtain or
permit, by grant, interest subsidy, or otherwise, the participation of the
federal government in the housing projects or loan programs or in the financing
of the costs of administering, operating, or maintaining the housing projects
or loan programs. [L 2006, c 180, pt of §4]