(a) The resolution authorizing the bonds may provide for the execution by the research park authority of an indenture that defines the rights of the holders and registered owners of the bonds and provides for the appointment of a trustee for the holders and registered owners of the bonds.
(b) The indenture may control the priority between successive issues and may contain any other terms, covenants, and conditions that are deemed desirable, including without limitation those pertaining to:
(1) The custody and application of the proceeds of the bonds;
(2) The collection and disposition of revenues;
(3) The maintenance of various funds and reserves;
(4) The imposition and maintenance of taxes, fees, rates, and charges for the use of the research park and other facilities of the authority;
(5) The nature and extent of the security;
(6) The rights, duties, and obligations of the authority and the trustee; and
(7) The rights of the holders and registered owners of the bonds.
Structure Arkansas Code
Subtitle 8 - Public Facilities Generally
Chapter 144 - Research Park Authority Act
§ 14-144-301. Issuance of revenue bonds — Authorization
§ 14-144-302. Issuance of revenue bonds — Resolution of research park authority — Nature of bonds
§ 14-144-303. Issuance of revenue bonds — Indenture
§ 14-144-304. Issuance of revenue bonds — Price and manner sold
§ 14-144-305. Issuance of revenue bonds — Execution
§ 14-144-306. Issuance of revenue bonds — Obligation of research park authority
§ 14-144-307. Issuance of revenue bonds — Refunding bonds
§ 14-144-308. Issuance of revenue bonds — Mortgage lien
§ 14-144-309. Issuance of revenue bonds — Default
§ 14-144-310. Agreements to obtain funds
§ 14-144-311. Exemption from taxation
§ 14-144-312. Use of surplus funds
§ 14-144-313. Public and private contributions
§ 14-144-314. Accounts and reports
§ 14-144-315. County, municipal, and state participation