14-185-121. Bonds — Resolution or trust indenture generally.

Arkansas Code — all titles (historical 2020) · legal_authorities

14-185-121. Bonds — Resolution or trust indenture generally.

14-185-121. Bonds — Resolution or trust indenture generally. The authority issuing the bonds, by the resolution or indenture, among other things, may control the subsequent issuance of additional bonds and the priority, between and among issues, of the pledge of revenues and of the mortgage lien, provide for the use of surplus pledged revenues, and provide for the creation of special trust funds to be maintained in such banks as the authority issuing the bonds may select. The moneys in these special trust funds shall be secured and disbursed as determined by the authority. The special trust funds may, without limitation, include a bond fund, a depreciation fund, an operation and maintenance fund, and such reserve funds as the authority issuing the bonds may determine to be in the best interests of the authority in accomplishing the purposes of this chapter.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-185-121

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.