{"data":{"id":"us-ar/ark.-code-ann.-13-5-308","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 13-5-308","heading":"Authorizing resolutions","body":"(a) Bonds shall be authorized by resolution of the Secretary of the Department of Parks, Heritage, and Tourism. (b) The authorizing resolution may contain or may provide for the execution of a trust indenture which may contain any other terms, covenants, and conditions that are deemed desirable by the secretary, including, without limitation, those pertaining to: (1) The maintenance of various funds and reserves; (2) The nature and extent of revenue pledges and security; (3) The conditions precedent to the issuance of additional bonds and the priority of lien and pledge in that event; (4) The custody and application of the proceeds of the bonds; (5) The collection and disposition of revenues; (6) The investing and reinvesting in securities specified by the secretary of any moneys during periods not needed for authorized purposes; and (7) The rights, duties, and obligations of the secretary and of the holders and registered owners of the bonds. Amended by Act 2019, No. 910,§ 5565, eff. 7/1/2019. Amended by Act 2019, No. 910,§ 5564, eff. 7/1/2019. Acts 1971, No. 515, § 5; 1975 (Extended Sess., 1976), No. 1018, § 2; A.S.A. 1947, § 6-1206.\n\n(a) Bonds shall be authorized by resolution of the Secretary of the Department of Parks, Heritage, and Tourism.\n\n(b) The authorizing resolution may contain or may provide for the execution of a trust indenture which may contain any other terms, covenants, and conditions that are deemed desirable by the secretary, including, without limitation, those pertaining to: (1) The maintenance of various funds and reserves; (2) The nature and extent of revenue pledges and security; (3) The conditions precedent to the issuance of additional bonds and the priority of lien and pledge in that event; (4) The custody and application of the proceeds of the bonds; (5) The collection and disposition of revenues; (6) The investing and reinvesting in securities specified by the secretary of any moneys during periods not needed for authorized purposes; and (7) The rights, duties, and obligations of the secretary and of the holders and registered owners of the bonds.\n\n(1) The maintenance of various funds and reserves;\n\n(2) The nature and extent of revenue pledges and security;\n\n(3) The conditions precedent to the issuance of additional bonds and the priority of lien and pledge in that event;\n\n(4) The custody and application of the proceeds of the bonds;\n\n(5) The collection and disposition of revenues;\n\n(6) The investing and reinvesting in securities specified by the secretary of any moneys during periods not needed for authorized purposes; and\n\n(7) The rights, duties, and obligations of the secretary and of the holders and registered owners of the bonds.","path":["AR Code","Title 13","Chapter 5","Subchapter 3"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"98796018af25dcfdb64ac7cfe8d8431f8d77bbbccdaf63de9ea174f7970f7a80","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-13-5-307","next":"us-ar/ark.-code-ann.-13-5-309"},"notice":"GroundRules: Original legal text. Not legal advice."}