Arkansas § 14-184-210 Bonds - Trust indenture

Arkansas Statutes

§ 14-184-210 — Bonds - Trust indenture

Arkansas § 14-184-210

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This text of Arkansas § 14-184-210 (Bonds - Trust indenture) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 14-184-210 (2026).

Text

(a)The authorizing resolution may provide for the execution by the district with a bank or trust company, within or without the State of Arkansas, of a trust indenture.

(b)The trust indenture may contain any 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 assessments and revenues;

(6)The investing and reinvesting, in securities specified by the board, of any moneys during periods not needed for authorized purpose

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(a) The authorizing resolution may provide for the execution by the district with a bank or trust company, within or without the State of Arkansas, of a trust indenture. (b) The trust indenture may contain any 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 assessments and revenues; (6) The investing and reinvesting, in securities specified by the board, of any moneys during periods not needed for authorized purposes; and (7) The rights, duties, and obligations of the board and the holders and registered owners of the bonds.