Arkansas § 14-122-203 Authorizing resolution

Arkansas Statutes

§ 14-122-203 — Authorizing resolution

The authorizing resolution may contain any of the terms, covenants, and conditions that are deemed desirable by the board including, without limitation, those pertaining to:

(1)The maintenance of various funds and reserves;

(2)The nature and extent of the security;

(3)The issuance of additional bonds and the nature of the lien and pledge, parity or priority, in that event;

(4)The custody and application of the proceeds of the bonds;

(5)The collection and disposition of revenues;

(6)The investing and reinvesting in securities specified by the board of any moneys during the periods not needed for authorized purposes; and (7) The rights, duties, and obligations of the district, the board, and of the holders and of the registered owners of the bonds.

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The authorizing resolution may contain any of the terms, covenants, and conditions that are deemed desirable by the board including, without limitation, those pertaining to: (1) The maintenance of various funds and reserves; (2) The nature and extent of the security; (3) The issuance of additional bonds and the nature of the lien and pledge, parity or priority, in that event; (4) The custody and application of the proceeds of the bonds; (5) The collection and disposition of revenues; (6) The investing and reinvesting in securities specified by the board of any moneys during the periods not needed for authorized purposes; and (7) The rights, duties, and obligations of the district, the board, and of the holders and of the registered owners of the bonds.

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