Ohio § 4981.17

§ 4981.17.

(A) In the discretion of the Ohio rail development commission, the bonds may be secured

by a trust agreement or indenture of mortgage between the issuer and a corporate trustee,

which may be any trust company or bank having the powers of a trust company within

or without this state but authorized to exercise trust powers within this state. (B) Any such trust agreement or indenture of mortgage may contain the resolution or ordinance

authorizing the issuance of the bonds and other provisions that are customary or appropriate

in an agreement or indenture of such type, including, but not limited to: (1) A pledge of the rentals, revenues, and other income, charges, and moneys out of which

the principal of and interest on the bonds shall be payable and a mortgage of all

or any part of the pledged facilities, including any enlargements of and additions

to such pledged facilities thereafter made; (2) Maintenance of each pledge, trust agreement, and indenture of mortgage made for the

security of any of the bonds until the issuer has fully paid the principal of and

interest on the bonds, or provision therefor has been made, for the security of which

the pledge has been made and the trust agreement or indenture of mortgage has been

given; (3) In the event of default in any payments required to be made by the bond proceedings

or any other agreement of the issuer made as a part of the contract under which the

bonds were issued, enforcement of such payments or agreement by mandamus, the appointment

of a receiver in equity, or if a mortgage has been given, the foreclosure of such

mortgage or any combination of the foregoing; (4) The rights and remedies of the bondholders and of the trustee and provisions for

protecting and enforcing them, including limitations on rights of individual bondholders; (5) Such other provisions as the trustee, the original purchaser of the bonds, and the

issuer agree upon.