Common use of Authorizing Resolutions Clause in Contracts

Authorizing Resolutions. Any resolutions authorizing any issue of revenue obligation securities may contain provisions which shall be a part of the contract with holders, as to: A. Pledging any specified revenues or assets of the project to secure the payment of the revenue obligation securities or of any issue of revenue obligation securities, subject to agreements with existing holders of revenue obligation securities; [PL 1985, c. 344, §89 (AMD).] B. Pledging all or any part of the unencumbered revenues or assets of the project to secure the payment of the revenue obligation securities or any issue of revenue obligation securities, subject to agreements with existing holders of revenue obligation securities; [PL 1985, c. 344, §89 (AMD).] C. Setting aside of, regulating and disposing of reserves or sinking funds; [PL 1981, c. 476, §2 (NEW).] D. Limitations on the purpose to which the proceeds of revenue obligation securities may be applied and the pledge of the proceeds to secure the payment of the revenue obligation securities or of any issue of revenue obligation securities; [PL 1985, c. 344, §89 (AMD).] E. Limitations on the issuance of additional revenue obligation securities; [PL 1985, c. 344, §89 (AMD).] F. The terms upon which additional revenue obligation securities may be issued and secured and the refunding of outstanding or other revenue obligation securities; [PL 1985, c. 344, §89 (AMD).] G. The procedure, if any, by which the terms of any contract with holders of revenue obligation securities may be amended or abrogated, including the amount of revenue obligation securities to which the holders must consent and the manner in which the consent may be given; [PL 1985, c. 344, §89 (AMD).] H. Limitations on the amount of moneys to be expended by the municipality for operating expenses of the project; [PL 1985, c. 344, §89 (AMD).] I. Vesting in a trustee or trustees such property, rights, powers and duties in trust as the municipality may determine, which may include any or all of the rights, powers and duties of the trustee appointed by the holders of the revenue obligation securities under this subchapter and limiting or abrogating the right of the holders of the revenue obligation securities to appoint a trustee under this chapter or limiting the rights, powers and duties of the trustee; [PL 1985, c. 344, §89 (AMD).] J. Defining the acts or omissions to act which shall constitute a default in the obligations and duties of the municipal officers to the holders of the revenue obligation securities and providing for the rights and remedies of the holders of the revenue obligation securities in the event of such default, including, as a matter of right, the appointment of a receiver; but only if the rights and remedies are not inconsistent with the general laws of the State and other provisions of this subchapter; and [PL 1985, c. 344, §89 (AMD).] K. Any other matters of like or different character which in any way affect the security or protection of the holders of the revenue obligation securities. [PL 1985, c. 344, §89 (AMD).] [PL 1985, c. 344, §89 (AMD).]