Arkansas § 14-185-124 Bonds - Trust indenture

Arkansas Statutes

§ 14-185-124 — Bonds - Trust indenture

Arkansas § 14-185-124

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This text of Arkansas § 14-185-124 (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. § 14-185-124 (2026).

Text

(a)Each resolution of an authority authorizing the issuance of bonds may provide for the execution of an indenture defining the rights of the holders and registered owners of the bonds and providing for the appointment of a trustee for the holders and registered owners of the bonds.

(b)The indenture may control the priority, between and among successive issues, of the pledge of revenues and mortgage lien and may control any other terms, covenants, and conditions that are deemed desirable, including without limitation, those pertaining to:

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

(2)The collection and disposition of revenues;

(3)The maintenance of various funds and reserves;

(4)The nature and extent of the security;

(5)The rights, duties, and obligations of the au

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(a) Each resolution of an authority authorizing the issuance of bonds may provide for the execution of an indenture defining the rights of the holders and registered owners of the bonds and providing for the appointment of a trustee for the holders and registered owners of the bonds. (b) The indenture may control the priority, between and among successive issues, of the pledge of revenues and mortgage lien and may control any other terms, covenants, and conditions that are deemed desirable, including without limitation, those pertaining to: (1) The custody and application of the proceeds of the bonds; (2) The collection and disposition of revenues; (3) The maintenance of various funds and reserves; (4) The nature and extent of the security; (5) The rights, duties, and obligations of the authority and the trustee for the holders and registered owners of the bonds; and (6) The rights of the holders and registered owners of the bonds.