Bonds — Trust indenture

  1. Law
  2. Arkansas Code
  3. Local Government
  4. Economic Development And Tourism Generally
  5. Industrial Development Bonds
  6. Local Government Energy Efficiency Project Bond Act
  7. Bonds — Trust indenture

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  1. (a) The ordinance authorizing bonds may provide for the execution by the chief executive officer of the issuer of a trust indenture that:

    1. (1) Defines the rights of the owners of the bonds; and

    2. (2) Provides for the appointment of a trustee for the owners of the bonds.

  2. (b) A trust indenture executed under this section may:

    1. (1) Provide for the priority between and among successive issues; and

    2. (2) Contain one (1) or more of the provisions stated in § 14-164-809 and any other terms, covenants, and conditions that are deemed desirable.


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