GroundRules
Ark. Code Ann. § 12-41-706: Bonds - Authorizing resolution
Where this section sits in the code
- AR Code
- Title 12
- Chapter 41
- Subchapter 7
(a) The bonds shall be authorized by resolution of the county jail board, municipal jail board, or public instrumentality jail board. (b) The authorizing resolution, as the board shall determine, may contain any terms, covenants, and conditions that are deemed necessary or desirable by the board including, without limitation, those pertaining to the: (1) Creation and maintenance of various funds and reserves; (2) Nature and extent of the security; (3) Issuance of additional series of bonds and the priority of lien and pledge in that event; and (4) Rights, duties, and obligations of the board and of the holders and registered owners of the bonds. (c) The authorizing resolution may provide for the execution of a trust indenture with a bank or trust company located within or outside the State of Arkansas containing appropriate terms, covenants, and conditions. Acts 1983, No. 918, § 10; A.S.A. 1947, § 46-456; Acts 2003, No. 1772, § 1.
(a) The bonds shall be authorized by resolution of the county jail board, municipal jail board, or public instrumentality jail board.
(b) The authorizing resolution, as the board shall determine, may contain any terms, covenants, and conditions that are deemed necessary or desirable by the board including, without limitation, those pertaining to the: (1) Creation and maintenance of various funds and reserves; (2) Nature and extent of the security; (3) Issuance of additional series of bonds and the priority of lien and pledge in that event; and (4) Rights, duties, and obligations of the board and of the holders and registered owners of the bonds.
(1) Creation and maintenance of various funds and reserves;
(2) Nature and extent of the security;
(3) Issuance of additional series of bonds and the priority of lien and pledge in that event; and
(4) Rights, duties, and obligations of the board and of the holders and registered owners of the bonds.
(c) The authorizing resolution may provide for the execution of a trust indenture with a bank or trust company located within or outside the State of Arkansas containing appropriate terms, covenants, and conditions.
Collected 2026-09-17T21:35:43Z. Source file · JSON
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Arkansas electronic product files were republished by Public.Resource.Org under a public-domain mark. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows. Source