(105 ILCS 5/34A-507) (from Ch. 122, par. 34A-507)
Sec. 34A-507.
Resolution vesting powers in trustee.
The resolution
authorizing issuance of the Bonds shall vest in a trustee such rights,
powers and duties in trust as the Authority may determine and may contain
such provisions for protecting and enforcing the rights and remedies of the
holders of the Bonds and limiting such rights and remedies, as may be
reasonable and proper and not in violation of law, including covenants
setting forth the duties of the Authority in relation to the exercise of
its corporate powers and the custody, safeguarding and application of all
moneys. Such resolution shall provide for the manner in which moneys in
the various funds and accounts of the Authority may be invested in
Investment Obligations and the disposition of the earnings on such
investments.
(Source: P.A. 81-1221.)
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