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15-4-409. Authorizing resolution and trust indenture.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-4-409. Authorizing resolution and trust indenture.
(a) Before revenue bonds shall be issued, the Arkansas Economic Development Council shall adopt an authorizing resolution and trust indenture which, together with this subchapter, shall constitute a contract between the council and the holders and registered owners of the bonds.
(b) The contract and all covenants, agreements, and obligations therein shall be promptly performed in strict compliance with the terms and conditions of the contracts, and the covenants, agreements, and obligations of the Arkansas Economic Development Commission shall be enforced by mandamus or other appropriate proceedings at law or in equity.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-4-409
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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Stable record: arkansas_code:legal_authorities:15-4-409
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: cff60307cfa4720949438301ac1d22969ac959d313f01b7b7575a560e64e4fdf
Source location: content.xml paragraph 1923
Stored source content
15-4-409. Authorizing resolution and trust indenture.
(a) Before revenue bonds shall be issued, the Arkansas Economic Development Council shall adopt an authorizing resolution and trust indenture which, together with this subchapter, shall constitute a contract between the council and the holders and registered owners of the bonds.
(b) The contract and all covenants, agreements, and obligations therein shall be promptly performed in strict compliance with the terms and conditions of the contracts, and the covenants, agreements, and obligations of the Arkansas Economic Development Commission shall be enforced by mandamus or other appropriate proceedings at law or in equity.
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