(a) (1) An industrial development authority issuing the bonds under this chapter, by resolution or indenture, among other things, may control the subsequent issuance of additional bonds and the priority, between and among issues, of the pledge of revenues and of the mortgage lien, provide for the use of surplus pledged revenues, and provide for the creation of special trust funds to be maintained in such banks as the industrial development authority issuing the bonds may select.(2) The moneys in the special trust funds under subdivision (a)(1) of this section shall be secured and disbursed as determined by the industrial development authority.
(1) An industrial development authority issuing the bonds under this chapter, by resolution or indenture, among other things, may control the subsequent issuance of additional bonds and the priority, between and among issues, of the pledge of revenues and of the mortgage lien, provide for the use of surplus pledged revenues, and provide for the creation of special trust funds to be maintained in such banks as the industrial development authority issuing the bonds may select.
(2) The moneys in the special trust funds under subdivision (a)(1) of this section shall be secured and disbursed as determined by the industrial development authority.
(b) The special trust funds under subsection (a) of this section may include without limitation a bond fund, a depreciation fund, an operation and maintenance fund, and such reserve funds as the industrial development authority issuing the bonds may determine to be in the best interests of the industrial development authority in accomplishing the purposes of this chapter.