§ 7.17. Revenue bonds.

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.