2015 Arkansas Code
Title 14 - Local Government
Subtitle 8 - Public Facilities Generally
Chapter 142 - Local Government Library Bonds
Subchapter 2 - Local Government Library Bond Act
§ 14-142-211 - Bonds generally -- Trust indenture.
(a) The ordinance or order authorizing the bonds may provide for the execution by the chief executive officer of the issuer of a trust indenture which defines the rights of the owners of the bonds and provides for the appointment of a trustee for the owners of the bonds.
(b) The trust indenture may provide for the priority between and among successive issues and may contain any of the provisions set forth in ยง 14-142-209, and any other terms, covenants, and conditions that are deemed desirable.
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