2015 Arkansas Code
Title 14 - Local Government
Subtitle 10 - Economic Development And Tourism Generally
Chapter 164 - Industrial Development Bonds
Subchapter 8 - Local Government Energy Efficiency Project Bond Act
§ 14-164-810 - Bonds -- Trust indenture.
(a) The ordinance authorizing bonds may provide for the execution by the chief executive officer of the issuer of a trust indenture that:
(1) Defines the rights of the owners of the bonds; and
(2) Provides for the appointment of a trustee for the owners of the bonds.
(b) A trust indenture executed under this section may:
(1) Provide for the priority between and among successive issues; and
(2) Contain one (1) or more of the provisions stated in ยง 14-164-809 and any other terms, covenants, and conditions that are deemed desirable.
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