In addition to revenue bonds authorized to be issued by any other provision of this
Charter or by the provisions of any general law of the State of Tennessee, the council
shall have power to authorize the issuance of revenue bonds to finance all or part
of the cost of any utility or other revenue producing enterprise or facility, where
such revenue bonds are to be payable in whole or in part from the revenues of such
utility or other revenue producing enterprise or facility, and to pledge all or any
part of such revenues for the payment of such revenue bonds. All of the applicable
provisions of this article shall be complied with in the issuance of such revenue
bonds. The council may in the proceedings authorizing the issuance of such revenue
bonds make and enter into valid and binding covenants with the holders of such revenue
bonds including, but not limited to, the appointment of trustees to hold and secure
the proceeds of such revenue bonds and such revenues and the application thereof,
the fixing and revision of the fees, rates or other charges for the services and facilities
of such utility or other revenue producing enterprise or facility, including reasonable
margins of safety, the creation and maintenance of reserve funds, sinking funds and
depreciation funds, the appointment of a receiver in case of defaults in payment of
debt service or performance of such covenants and such other covenants as are deemed
necessary and advisable for the marketability of such revenue bonds and the security
of the holders thereof.
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