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14-122-204. Trust indenture.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-122-204. Trust indenture.
(a) The authorizing resolution may provide for the execution by the district with a bank or trust company within or without the State of Arkansas of a trust indenture.
(b) The trust indenture may contain any terms, covenants, and conditions that are deemed desirable by the board including, without limitation, those pertaining to the maintenance of various funds and reserves, the nature and extent of the security, the issuance of additional bonds, and the nature of the lien and pledge, parity or priority, in that event, the custody and application of the proceeds of the bonds, the collection and disposition of assessments and of revenues, the investing and reinvesting, in securities specified by the board, of any moneys during periods not needed for authorized purposes, and the rights, duties, and obligations of the board and the holders and registered owners of the bonds.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-122-204
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:14-122-204
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: fb00affb2798010f6655ffb8bde50bb9b15b58ed8c81e5062006450b21d8714a
Source location: content.xml paragraph 32324
Stored source content
14-122-204. Trust indenture.
(a) The authorizing resolution may provide for the execution by the district with a bank or trust company within or without the State of Arkansas of a trust indenture.
(b) The trust indenture may contain any terms, covenants, and conditions that are deemed desirable by the board including, without limitation, those pertaining to the maintenance of various funds and reserves, the nature and extent of the security, the issuance of additional bonds, and the nature of the lien and pledge, parity or priority, in that event, the custody and application of the proceeds of the bonds, the collection and disposition of assessments and of revenues, the investing and reinvesting, in securities specified by the board, of any moneys during periods not needed for authorized purposes, and the rights, duties, and obligations of the board and the holders and registered owners of the bonds.
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