Section 8-18-21-11 - Trust indentures(a) The board of directors of an authority may secure bonds issued or loans made under this chapter by a trust indenture between the authority and a corporate trustee, which may be any trust company or national or state bank within Indiana that has trust powers.(b) The trust indenture may:(1) mortgage all or part of the toll road facility for which the bonds are issued or loan is made;(2) contain reasonable and proper provisions for protecting and enforcing the rights and remedies of the bondholders or lenders, including covenants setting forth the duties of the authority and board concerning:(A) the construction, operation, repair, maintenance, and insurance of the toll road facility; and(B) the custody, safeguarding, and application of all money received or to be received by the authority on account of the toll road facility financed by the bonds or loan;(3) set forth the rights and remedies of the bondholders or lenders and trustee; and(4) restrict the individual right of action of bondholders or lenders.(c) Except as otherwise provided in this chapter, the board of directors may, by resolution or in the trust indenture, specify:(1) the officer, board, or depository to which the proceeds of the bonds or loan shall be paid; and(2) the method of disbursing those proceeds.As added by P.L. 386-1987 (ss), SEC.21.