Ark. Code Ann. § 14-164-810: Bonds - Trust indenture

(a) The ordinance authorizing bonds may provide for the execution by the chief executive officer of the issuer of a trust indenture that: (1) Defines the rights of the owners of the bonds; and (2) Provides for the appointment of a trustee for the owners of the bonds. (b) A trust indenture executed under this section may: (1) Provide for the priority between and among successive issues; and (2) Contain one (1) or more of the provisions stated in § 14-164-809 and any other terms, covenants, and conditions that are deemed desirable. Added by Act 2015, No. 1275,§ 1, eff. 7/22/2015.

(a) The ordinance authorizing bonds may provide for the execution by the chief executive officer of the issuer of a trust indenture that: (1) Defines the rights of the owners of the bonds; and (2) Provides for the appointment of a trustee for the owners of the bonds.

(1) Defines the rights of the owners of the bonds; and

(2) Provides for the appointment of a trustee for the owners of the bonds.

(b) A trust indenture executed under this section may: (1) Provide for the priority between and among successive issues; and (2) Contain one (1) or more of the provisions stated in § 14-164-809 and any other terms, covenants, and conditions that are deemed desirable.

(1) Provide for the priority between and among successive issues; and

(2) Contain one (1) or more of the provisions stated in § 14-164-809 and any other terms, covenants, and conditions that are deemed desirable.