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22-3-909. Bonds — Trust indenture.
Arkansas Code — all titles (historical 2020) · legal_authorities
22-3-909. Bonds — Trust indenture.
The authorizing resolution may provide for the execution by the Arkansas Development Finance Authority with a bank or trust company within or without the State of Arkansas of a trust indenture which may contain any terms, covenants, and conditions that are deemed desirable by the authority, 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, the issuance of additional bonds, and the nature of the pledge and security, whether parity or priority, in that event, and the rights, duties, and obligations of the authority, of the trustee, and of the holders and registered owners of the bonds.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 22-3-909
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:22-3-909
Source file: gov.ar.code.title.22.odt
Pages: Not recorded – Not recorded
Passage SHA-256: bc5f2ecde87ae5032ba11044d4d316e195b87c9015401a6acc1b0d049c3ef1ee
Source location: content.xml paragraph 1667
Stored source content
22-3-909. Bonds — Trust indenture.
The authorizing resolution may provide for the execution by the Arkansas Development Finance Authority with a bank or trust company within or without the State of Arkansas of a trust indenture which may contain any terms, covenants, and conditions that are deemed desirable by the authority, 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, the issuance of additional bonds, and the nature of the pledge and security, whether parity or priority, in that event, and the rights, duties, and obligations of the authority, of the trustee, and of the holders and registered owners of the bonds.
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