Trust indenture to secure bonds or notes; provisions protecting holders; expenses treated as operating expenses

1. Law
2. District of Columbia Code
3. Real Property
4. Housing Finance Agency
5. Financial Affairs of the Agency
6. Trust indenture to secure bonds or notes; provisions protecting holders; expenses treated as operating expenses

(a) Authority. — The Agency may secure bonds, notes, or other obligations by a trust indenture between the Agency and a corporate trustee which has the authority to exercise corporate trust powers within the District.

(b) Provisions. — A trust indenture of the Agency may contain provisions for protecting and enforcing the rights and remedies of holders of bonds or notes in accordance with the provisions of the resolution authorizing the sale of bonds or notes.

(c) Expenses. — The Agency may treat expenses incurred in carrying out a trust indenture as operating expenses.

(Mar. 3, 1979, D.C. Law 2-135, § 404, 25 DCR 5008; Apr. 20, 1999, D.C. Law 12-247, § 2(q), 46 DCR 1100.)

Prior Codifications

1981 Ed., § 45-2134.

1973 Ed., § 45-1919.

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