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

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

(c)  Where a trust indenture provides that anybond issued under that trust indenture is not valid or obligatory for anypurpose unless certified or authenticated by the trustee, all signatures of theofficers of the State upon the bonds required by section 39-56 may befacsimiles of their signatures.

(d)  A trust indenture shall also containprovisions as to:

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

(2)  The terms and conditions upon which the holdersof the bonds or any portion of them or any trustee thereof may instituteproceedings for the enforcement of any agreement or any note or otherundertaking, obligation, or property securing the payment of the bonds and theuse and application of the moneys derived therefrom.

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