[§356D-24]  Trust indenture.  (a)  Atrust indenture may contain covenants and provisions authorized by part III ofchapter 39, and as deemed necessary or convenient by the authority for thepurposes of this part.

(b)  A trust indenture may allow the authorityto pledge and assign to the trustee agreements related to the public housingproject or projects and the rights of the authority thereunder, including theright to receive revenues thereunder and to enforce the provision thereof.

(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 be facsimilesof 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 thepublic housing project or system of public housing projects, and the use andapplication 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 authority to obtain or permit,by grant, interest subsidy, or otherwise, the participation of the federalgovernment in the public housing projects or in the financing of the costs ofadministering, operating, or maintaining the public housing projects. [L 2006,c 180, pt of §2]