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Arkansas · Snapshot open-us-law v2026.08, retrieved 2026-09-17

Ark. Code Ann. § 14-185-124: Bonds - Trust indenture

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Where this section sits in the code
  1. AR Code
  2. Title 14
  3. Chapter 185

(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. Acts 1961, No. 439, § 9; 1975 (Extended Sess., 1976), No. 1232, § 1; A.S.A. 1947, § 21-1509; reen. Acts 1987, No. 1017, § 1.

(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.

(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.

Collected 2026-09-17T21:35:43Z. Source file · JSON

Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text. Source · License

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

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