{"data":{"id":"us-ar/ark.-code-ann.-14-164-412","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 14-164-412","heading":"Bonds - Mortgage lien","body":"(a) The ordinance or trust indenture authorized in §§ 14-164-405 or 14-164-407 may, but need not, impose a foreclosureable mortgage lien upon the capital improvements financed or refinanced, in whole or in part, with the proceeds of bonds issued under this subchapter. (b) The nature and extent of the mortgage lien may be controlled by the ordinance or trust indenture including, without limitation, provisions pertaining to: (1) The release of all or part of the land, buildings, or facilities from the mortgage lien; (2) The priority of the mortgage lien in the event of successive bond issues; and (3) Authorizing any owner of bonds, or a trustee on behalf of all owners, either at law or in equity, to enforce the mortgage lien and, by proper suit, compel the performance of the duties of the officials of the issuer set forth in this subchapter or in the ordinance or trust indenture authorizing or securing the bonds. (c) References in this section to mortgage lien shall include a security interest in any personal property constituting the capital improvements, or part thereof, financed or refinanced, in whole or in part, with the proceeds of bonds issued under this subchapter. Acts 1985, No. 974, § 5; A.S.A. 1947, § 13-1265.\n\n(a) The ordinance or trust indenture authorized in §§ 14-164-405 or 14-164-407 may, but need not, impose a foreclosureable mortgage lien upon the capital improvements financed or refinanced, in whole or in part, with the proceeds of bonds issued under this subchapter.\n\n(b) The nature and extent of the mortgage lien may be controlled by the ordinance or trust indenture including, without limitation, provisions pertaining to: (1) The release of all or part of the land, buildings, or facilities from the mortgage lien; (2) The priority of the mortgage lien in the event of successive bond issues; and (3) Authorizing any owner of bonds, or a trustee on behalf of all owners, either at law or in equity, to enforce the mortgage lien and, by proper suit, compel the performance of the duties of the officials of the issuer set forth in this subchapter or in the ordinance or trust indenture authorizing or securing the bonds.\n\n(1) The release of all or part of the land, buildings, or facilities from the mortgage lien;\n\n(2) The priority of the mortgage lien in the event of successive bond issues; and\n\n(3) Authorizing any owner of bonds, or a trustee on behalf of all owners, either at law or in equity, to enforce the mortgage lien and, by proper suit, compel the performance of the duties of the officials of the issuer set forth in this subchapter or in the ordinance or trust indenture authorizing or securing the bonds.\n\n(c) References in this section to mortgage lien shall include a security interest in any personal property constituting the capital improvements, or part thereof, financed or refinanced, in whole or in part, with the proceeds of bonds issued under this subchapter.","path":["AR Code","Title 14","Chapter 164","Subchapter 4"],"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 2026-09-17","retrieved_at":"2026-09-17T21:35:43Z","sha256":"d70b88f093797583a59281fb45737e15e085f2f325129f64cd350bf74df2e438","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-14-164-411","next":"us-ar/ark.-code-ann.-14-164-413","notices":[{"id":"open-us-law","title":"Open US Law compilation","text":"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.","url":"https://huggingface.co/datasets/vaquill/open-us-law","license_url":"https://creativecommons.org/licenses/by/4.0/"},{"id":"pro-ar","title":"Arkansas Release 78 supplement","text":"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.","url":"https://archive.org/details/gov.ar.code"}]},"notice":"GroundRules: Original legal text. Not legal advice."}