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15-5-417. Trust indenture.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-5-417. Trust indenture.
(a) The resolution authorizing the issuance of bonds may provide for the execution by the Arkansas Development Finance Authority with a financial institution 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 authority, including, without limitation, those pertaining to the maintainance 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 authority and of the holders and registered owners of the bonds.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-5-417
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:15-5-417
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 9ccea07d3bccaa2d595ac84876af5d4fc704fd945163c9c5bb7409c3527d9769
Source location: content.xml paragraph 8159
Stored source content
15-5-417. Trust indenture.
(a) The resolution authorizing the issuance of bonds may provide for the execution by the Arkansas Development Finance Authority with a financial institution 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 authority, including, without limitation, those pertaining to the maintainance 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 authority and of the holders and registered owners of the bonds.
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