§ 21-274. Resolutions may be part of contract with bondholders.
Any resolutions of the commission authorizing any bonds may containprovisions, which shall be a part of the contract with the several holders ofsuch bonds and accordingly subject to amendment by mutual agreement of thecommission and the holders of all of such bonds, as to:
(1) Pledging, setting aside, depositing or trusteeing any or all revenues orfunds of the commission to secure the payment of the principal of or intereston such bonds or other bonds of the commission or the payment of expenses ofconstruction, operation or maintenance of the sewage disposal system,including provisions giving priority, notwithstanding any provision or ruleof law otherwise to the contrary, to the obligation to perform suchcontractual provisions to secure payment of such principal or interest overany or all other obligations and liabilities of the commission;
(2) Payment of the principal of or interest on such bonds or other bonds ofthe commission, and the sources and methods thereof;
(3) The fees, rents and other charges to be established and collected by thecommission, the collection and enforcement of the same, and the use,disposition and application of the amounts collected;
(4) The setting aside of reserves and sinking funds and the source,regulation, application and disposition thereof;
(5) The determination or definition of the revenues and income of thecommission and of the expenses of operation and maintenance of the sewagedisposal system;
(6) The use, regulation, operation, maintenance, insurance and disposition ofthe sewage disposal facilities and other property of the commission;
(7) Restrictions on the power of the commission to limit and regulate the useof the sewage disposal system, facilities and other property of thecommission;
(8) Limitations on the purposes to which the proceeds of such bonds or otherbonds of the commission may be applied;
(9) The construction and completion of all or any part of the sewage disposalsystem or any facilities of the commission;
(10) Limitations on the issuance of additional bonds or on the indebtednessof the commission;
(11) The procedure, if any, by which the terms of any contract with theholders of such bonds may be amended or abrogated, the amount of bonds theholders of which must consent thereto, and the manner in which such consentmay be given or evidenced;
(12) Payment of costs or expenses incident to the enforcement of such bondsor of the provisions of such resolution or of any contract with the holdersof such bonds, in accordance with this article; or
(13) Any other matter which the commission shall determine to be necessary inorder to carry out and effectuate the purposes of the commission.
§ 21-274. Resolutions may be part of contract with bondholders.
Any resolutions of the commission authorizing any bonds may containprovisions, which shall be a part of the contract with the several holders ofsuch bonds and accordingly subject to amendment by mutual agreement of thecommission and the holders of all of such bonds, as to:
(1) Pledging, setting aside, depositing or trusteeing any or all revenues orfunds of the commission to secure the payment of the principal of or intereston such bonds or other bonds of the commission or the payment of expenses ofconstruction, operation or maintenance of the sewage disposal system,including provisions giving priority, notwithstanding any provision or ruleof law otherwise to the contrary, to the obligation to perform suchcontractual provisions to secure payment of such principal or interest overany or all other obligations and liabilities of the commission;
(2) Payment of the principal of or interest on such bonds or other bonds ofthe commission, and the sources and methods thereof;
(3) The fees, rents and other charges to be established and collected by thecommission, the collection and enforcement of the same, and the use,disposition and application of the amounts collected;
(4) The setting aside of reserves and sinking funds and the source,regulation, application and disposition thereof;
(5) The determination or definition of the revenues and income of thecommission and of the expenses of operation and maintenance of the sewagedisposal system;
(6) The use, regulation, operation, maintenance, insurance and disposition ofthe sewage disposal facilities and other property of the commission;
(7) Restrictions on the power of the commission to limit and regulate the useof the sewage disposal system, facilities and other property of thecommission;
(8) Limitations on the purposes to which the proceeds of such bonds or otherbonds of the commission may be applied;
(9) The construction and completion of all or any part of the sewage disposalsystem or any facilities of the commission;
(10) Limitations on the issuance of additional bonds or on the indebtednessof the commission;
(11) The procedure, if any, by which the terms of any contract with theholders of such bonds may be amended or abrogated, the amount of bonds theholders of which must consent thereto, and the manner in which such consentmay be given or evidenced;
(12) Payment of costs or expenses incident to the enforcement of such bondsor of the provisions of such resolution or of any contract with the holdersof such bonds, in accordance with this article; or
(13) Any other matter which the commission shall determine to be necessary inorder to carry out and effectuate the purposes of the commission.
§ 21-274. Resolutions may be part of contract with bondholders.
Any resolutions of the commission authorizing any bonds may containprovisions, which shall be a part of the contract with the several holders ofsuch bonds and accordingly subject to amendment by mutual agreement of thecommission and the holders of all of such bonds, as to:
(1) Pledging, setting aside, depositing or trusteeing any or all revenues orfunds of the commission to secure the payment of the principal of or intereston such bonds or other bonds of the commission or the payment of expenses ofconstruction, operation or maintenance of the sewage disposal system,including provisions giving priority, notwithstanding any provision or ruleof law otherwise to the contrary, to the obligation to perform suchcontractual provisions to secure payment of such principal or interest overany or all other obligations and liabilities of the commission;
(2) Payment of the principal of or interest on such bonds or other bonds ofthe commission, and the sources and methods thereof;
(3) The fees, rents and other charges to be established and collected by thecommission, the collection and enforcement of the same, and the use,disposition and application of the amounts collected;
(4) The setting aside of reserves and sinking funds and the source,regulation, application and disposition thereof;
(5) The determination or definition of the revenues and income of thecommission and of the expenses of operation and maintenance of the sewagedisposal system;
(6) The use, regulation, operation, maintenance, insurance and disposition ofthe sewage disposal facilities and other property of the commission;
(7) Restrictions on the power of the commission to limit and regulate the useof the sewage disposal system, facilities and other property of thecommission;
(8) Limitations on the purposes to which the proceeds of such bonds or otherbonds of the commission may be applied;
(9) The construction and completion of all or any part of the sewage disposalsystem or any facilities of the commission;
(10) Limitations on the issuance of additional bonds or on the indebtednessof the commission;
(11) The procedure, if any, by which the terms of any contract with theholders of such bonds may be amended or abrogated, the amount of bonds theholders of which must consent thereto, and the manner in which such consentmay be given or evidenced;
(12) Payment of costs or expenses incident to the enforcement of such bondsor of the provisions of such resolution or of any contract with the holdersof such bonds, in accordance with this article; or
(13) Any other matter which the commission shall determine to be necessary inorder to carry out and effectuate the purposes of the commission.
