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15-4-705. Trust indenture.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-4-705. Trust indenture.
(a) The resolution authorizing the issuance of bonds may provide for the execution of a trust indenture by the Arkansas Economic Development Council with a bank or trust company within or without the State of Arkansas.
(b) The trust indenture may contain any terms, covenants, and conditions that are deemed desirable by the council, including without limitation, those pertaining to the maintenance of various funds and reserves, the nature and extent of the security, the custody and application of the proceeds of the bonds, the collection and disposition of revenues, and the rights, duties, and obligations of the council and of the holders and registered owners of the bonds.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-4-705
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:15-4-705
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 026bae84f2e13427874d147e076a1d17da3314b3c98738df3eaf95dc7233e94c
Source location: content.xml paragraph 2447
Stored source content
15-4-705. Trust indenture.
(a) The resolution authorizing the issuance of bonds may provide for the execution of a trust indenture by the Arkansas Economic Development Council with a bank or trust company within or without the State of Arkansas.
(b) The trust indenture may contain any terms, covenants, and conditions that are deemed desirable by the council, including without limitation, those pertaining to the maintenance of various funds and reserves, the nature and extent of the security, the custody and application of the proceeds of the bonds, the collection and disposition of revenues, and the rights, duties, and obligations of the council and of the holders and registered owners of the bonds.
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