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14-303-503. Trust indenture.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-303-503. Trust indenture.
(a) The resolution of an authority authorizing the issuance of bonds may provide for the execution, by the authority involved with a bank or trust company within or without the State of Arkansas, of a trust indenture.
(b) The trust indenture may control the priority between successive issues and may contain any other terms, covenants, and conditions that are deemed desirable including, without limitation, those pertaining to the custody and application of the proceeds of bonds, the collection and disposition of tollway project revenues, the maintenance of various funds and reserves, the nature and extent of the security, the rights, duties, and obligations of the authority involved, and the trustee for the holders and owners of the bonds, and the rights of the holders and owners of the bonds.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-303-503
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:14-303-503
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: f20346c6835f52182292f553b367db981625abb42e228988129f9b27a842ae60
Source location: content.xml paragraph 55942
Stored source content
14-303-503. Trust indenture.
(a) The resolution of an authority authorizing the issuance of bonds may provide for the execution, by the authority involved with a bank or trust company within or without the State of Arkansas, of a trust indenture.
(b) The trust indenture may control the priority between successive issues and may contain any other terms, covenants, and conditions that are deemed desirable including, without limitation, those pertaining to the custody and application of the proceeds of bonds, the collection and disposition of tollway project revenues, the maintenance of various funds and reserves, the nature and extent of the security, the rights, duties, and obligations of the authority involved, and the trustee for the holders and owners of the bonds, and the rights of the holders and owners of the bonds.
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