61-08-22. Bonds may be secured by trust indenture - Powers vested in trustee

61-08-22. Bonds may be secured by trust indenture - Powers vested in trustee In the discretion of the board, bonds may be secured by a trust indenture by and between the district and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or outside this state. The board may vest in the trustee the right to enforce any covenant made to secure or to pay the bonds.