| In the discretion of the board, any securities issued under |
| this Act may be secured by a trust agreement by and between |
| the board and a corporate trustee, which may be any trust |
| company or bank or national banking association having the |
| powers of a trust company within or without the State.__The |
| trust agreement or the resolution providing for the issuance |
| of the securities may pledge or assign all or any portion of |
| the revenues of the board or any project, projects or part of |
| any project of the board and may contain such provisions for |
| protecting and enforcing the rights and remedies of the |
| holders of securities as may be reasonable and proper and not |
| in violation of law.__The provisions may include covenants |
| setting forth the duties of the board in relation to: the |
| acquisition of property; the construction, reconstruction, |
| renewal, replacement and insurance of any project, projects or |
| part of any project in connection with which the securities |
| have been authorized; the fees, charges or rents to be charged |
| or other payments to be made for the use or payment for |
| property; and the custody, safeguarding and application of all |
| money.__It is lawful for any bank or trust company |
| incorporated under the laws of the State that may act as |
| depository of the proceeds of securities or of revenues of the |
| board or any project, projects or part of any project to |
| furnish such indemnifying bonds or to pledge such instruments |
| as may be required by the board.__Any such trust agreement may |
| set forth the rights and remedies of the holders of the |
| securities and of the trustee and may restrict the individual |
| right of action by holders of securities. |
