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12-41-607. Bonds — Authorizing resolution.
Arkansas Code — all titles (historical 2020) · legal_authorities
12-41-607. Bonds — Authorizing resolution.
(a) The bonds shall be authorized by resolution of the county jail board.
(b) The authorizing resolution may contain any terms, covenants, and conditions that are deemed necessary or desirable by the board, including without limitation, those pertaining to:
(1) The creation and maintenance of various funds and reserves;
(2) The nature and extent of the security;
(3) The issuance of additional series of bonds and the priority of lien and pledge in that event; and
(4) The rights, duties, and obligations of the board and of the holders and registered owners of the bonds, all as the board shall determine.
(c) The authorizing resolution may provide for the execution of a trust indenture, with a bank or trust company located within or without the State of Arkansas, containing the terms, covenants, and conditions authorized by this subchapter.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 12-41-607
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:12-41-607
Source file: gov.ar.code.title.12.odt
Pages: Not recorded – Not recorded
Passage SHA-256: ea4de3c609521d0cf44deee5c817cdf81f2ca9bb72ad0f9227d6c79adacf8351
Source location: content.xml paragraph 15233
Stored source content
12-41-607. Bonds — Authorizing resolution.
(a) The bonds shall be authorized by resolution of the county jail board.
(b) The authorizing resolution may contain any terms, covenants, and conditions that are deemed necessary or desirable by the board, including without limitation, those pertaining to:
(1) The creation and maintenance of various funds and reserves;
(2) The nature and extent of the security;
(3) The issuance of additional series of bonds and the priority of lien and pledge in that event; and
(4) The rights, duties, and obligations of the board and of the holders and registered owners of the bonds, all as the board shall determine.
(c) The authorizing resolution may provide for the execution of a trust indenture, with a bank or trust company located within or without the State of Arkansas, containing the terms, covenants, and conditions authorized by this subchapter.
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