{"data":{"id":"us-in/ic-8-18-21-11","jurisdiction":"us-in","citation":"IC 8-18-21-11","heading":"Trust indentures","body":"Sec. 11. (a) The board of directors of an authority may secure bonds issued or loans made under this chapter by a trust indenture between the authority and a corporate trustee, which may be any trust company or national or state bank within Indiana that has trust powers.\n(b) The trust indenture may:\n(1) mortgage all or part of the toll road facility for which the bonds are issued or loan is made;\n(2) contain reasonable and proper provisions for protecting and enforcing the rights and remedies of the bondholders or lenders, including covenants setting forth the duties of the authority and board concerning:\n(A) the construction, operation, repair, maintenance, and insurance of the toll road facility; and\n(B) the custody, safeguarding, and application of all money received or to be received by the authority on account of the toll road facility financed by the bonds or loan;\n(3) set forth the rights and remedies of the bondholders or lenders and trustee; and\n(4) restrict the individual right of action of bondholders or lenders.\n(c) Except as otherwise provided in this chapter, the board of directors may, by resolution or in the trust indenture, specify:\n(1) the officer, board, or depository to which the proceeds of the bonds or loan shall be paid; and\n(2) the method of disbursing those proceeds.","path":["TITLE 8. UTILITIES AND TRANSPORTATION","ARTICLE 18. COUNTY ROADS─FINANCING AND BONDING","Chapter 21. County Toll Road Financing"],"source_url":"https://iga.in.gov/ic/2026/Title_8.html#8-18-21-11","current_through":"2026","vintage":"2026","retrieved_at":"2026-10-04T20:08:46Z","sha256":"950b51d63481ecfe212248373061ac6fa9850630834e994cfca4caa6a350c2b4","source_id":"us-in","stale":false,"prev":"us-in/ic-8-18-21-10","next":"us-in/ic-8-18-21-12"},"notice":"GroundRules: Original legal text. Not legal advice."}