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Any resolution authorizing the issuance of bonds under this chapter may provide that the principal of and the interest and premium, if any, on the bonds shall be secured by an indenture of trust covering the revenues and receipts derived from the leasing, subleasing, sale or financing of the project for which the bonds are issued and such other funds and rights, if any, as are assigned and pledged under such indenture of trust. Any such resolution or indenture of trust, or any such lease, sublease, agreement of sale or loan agreement may contain such covenants and provisions as the council may determine to be advisable, including, but not limited to, covenants and provisions with respect to the project and the bonds, and the security therefor, such as to:

A. The application, use and disposition of the proceeds of the bonds and of the revenues and receipts from the project for which the bonds are to be issued, including the creation and maintenance of reserves, if any;

B. The issuance of other or additional bonds relating to the project or any construction of the project;

C. The maintenance and repair of such project;

D. The insurance to be carried thereon and the use and disposition of insurance moneys;

E. The appointment of, or the prescription of qualifications for, any bank or trust company within or outside the state of Alaska, having the necessary trust powers, as trustee for the benefit of the bondholders, paying agent, and bond registrar and the vesting in the trustee of rights, powers, duties, funds and properties for the benefit of bondholders;

F. The appointment of, or the prescriptions of qualifications for, any bank or banks or trust company or companies within or outside the state of Alaska, having the necessary trust powers, as additional paying agent or agents for the bonds and the interest thereon;

G. The investment of any funds held under such resolution or indenture of trust;

H. The terms and conditions upon which the holders of the bonds or any portion thereof, or any trustees therefor, are entitled to the appointment of a receiver; and

I. Any other matters of like or different character which in any way affect the security or protection of the bonds. Any such resolution and indenture of trust shall be enforceable by any bondholder by appropriate suit, action or proceeding in any court of competent jurisdiction, provided the resolution or indenture of trust under which the bonds are issued may provide that all such remedies and rights to enforcement may be vested in a trustee for the benefit of all the bondholders. (Ord. 337 § 3, 1986)