(A) Any bond ordinance may contain covenants as the city may desire, including but not limited to, covenants as to the following:
(1) The use and disposition of the revenues and receipts from the lease and other agreements or the project for which the bonds are to be issued, including the creation and maintenance or reserves;
(2) The issuance of other or additional bonds relating to the project or any rehabilitation, improvements, renovations, enlargements or additions thereto;
(3) The maintenance and repair of the project;
(4) The insurance to be carried thereon and the use and disposition of insurance monies;
(5) The appointment of any bank or trust company within or outside the state, having the necessary trust powers as trustee for the benefit of the bondholders, paying agent and bond registrar;
(6) The investment of any funds held by the trustee; and
(7) The terms and conditions upon which the holders of the bonds or any portion thereof or any trustees thereof are entitled to the appointment of a receiver.
(B) The bond ordinance may provide that the principal of and interest on the bonds shall be secured by a mortgage or indenture of trust covering the project for which the bonds are issued and may include any improvements or extensions thereafter made. The mortgage or indenture of trust may contain covenants and agreements to properly safeguard the bonds and shall be executed in the manner as may be provided for in the bond ordinance. The provisions of this subchapter and the bond ordinance and any mortgage or indenture of trust shall constitute a contract with the holder or holders of the bonds and continue in effect until the principal of, the interest on and the redemption premiums, if any, on the bonds so issued have been fully paid, or until provision for payment shall have been made as provided in the bond ordinance, and the duties of the city and its corporate authorities and officers under this subchapter and any bond ordinance and any mortgage or indenture of trust shall be enforceable by any bondholder by mandamus, foreclosure of any mortgage or indenture of trust or other appropriate suit, action or proceedings in any court of competent jurisdiction, in the manner and subject to the terms of the bond ordinance, mortgage or indenture of trust.
(1980 Code, § 13.1407)