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6-61-1005. Additional terms of authorizing resolution.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-61-1005. Additional terms of authorizing resolution.
(a) The authorizing resolution may provide for the execution by the board of trustees of the technical college or the community college with a bank or trust company within or without the State of Arkansas of a trust indenture.
(b) The trust indenture may contain terms, covenants, and conditions that are deemed desirable by the board of trustees, including, without limitation, provisions:
(1) Authorizing the issuance of bonds in series from time to time;
(2) Pertaining to the custody and application of bond proceeds;
(3) Pertaining to the maintenance of various funds and reserves;
(4) Pertaining to the collection, depositing, securing, and disbursing of tax proceeds and other revenues;
(5) Pertaining to the nature and extent of the security; and
(6) Pertaining to the rights, duties, and obligations of the local board, the trustees, and the holders and registered owners of the bonds.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-61-1005
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:6-61-1005
Source file: gov.ar.code.title.06.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 1ababd6ceee189e70bcc3648db283997598919b980aa5d352e36a2a73dfdfb48
Source location: content.xml paragraph 36768
Stored source content
6-61-1005. Additional terms of authorizing resolution.
(a) The authorizing resolution may provide for the execution by the board of trustees of the technical college or the community college with a bank or trust company within or without the State of Arkansas of a trust indenture.
(b) The trust indenture may contain terms, covenants, and conditions that are deemed desirable by the board of trustees, including, without limitation, provisions:
(1) Authorizing the issuance of bonds in series from time to time;
(2) Pertaining to the custody and application of bond proceeds;
(3) Pertaining to the maintenance of various funds and reserves;
(4) Pertaining to the collection, depositing, securing, and disbursing of tax proceeds and other revenues;
(5) Pertaining to the nature and extent of the security; and
(6) Pertaining to the rights, duties, and obligations of the local board, the trustees, and the holders and registered owners of the bonds.
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