(a) Bonds shall be authorized by resolution of the Secretary of the Department of Parks, Heritage, and Tourism.
(b) The authorizing resolution may contain or may provide for the execution of a trust indenture which may contain any other terms, covenants, and conditions that are deemed desirable by the secretary, including, without limitation, those pertaining to:
(1) The maintenance of various funds and reserves;
(2) The nature and extent of revenue pledges and security;
(3) The conditions precedent to the issuance of additional bonds and the priority of lien and pledge in that event;
(4) The custody and application of the proceeds of the bonds;
(5) The collection and disposition of revenues;
(6) The investing and reinvesting in securities specified by the secretary of any moneys during periods not needed for authorized purposes; and
(7) The rights, duties, and obligations of the secretary and of the holders and registered owners of the bonds.
Structure Arkansas Code
Title 13 - Libraries, Archives, and Cultural Resources
Subchapter 3 - Arkansas Museum and Cultural Center Act
§ 13-5-302. Construction of subchapter
§ 13-5-307. Funds for museum and cultural center — Issuance of bonds
§ 13-5-308. Authorizing resolutions
§ 13-5-309. Terms and characteristics of bonds
§ 13-5-310. Contract with bond owners — Enforcement
§ 13-5-312. Execution of bonds and coupons
§ 13-5-313. Statements on bonds — Liability
§ 13-5-314. Disposition of revenues
§ 13-5-315. Debt service — Pledge of revenues and earnings — Admission charges
§ 13-5-316. Administration of debt-servicing provisions — Bond guaranty fund
§ 13-5-319. Investment by retirement systems