§ 4.50.080. Indenture.

In the discretion of the Council, any bonds issued under the provisions of this Chapter may be secured by an indenture or trust agreement by and between the city and a corporate trustee or trustees, which may be any trust company or bank having the powers of a trust company within or without the State. Such indenture or trust agreement may contain such provisions for protecting and enforcing the rights and remedies of the bond owners as may be reasonable and proper and not in violation of law. Any such indenture or trust agreement may set forth the rights and remedies of the bond owners and of the trustee or trustees, and may restrict the individual right of action by bond owners. In addition to the foregoing, any such indenture or trust agreement may contain such other provisions as the Council may deem reasonable and proper for the security of the bond owners.

(Ord. 12624 § 1 (part), 2004)