(a) As the ordinance or trust indenture as authorized in this subchapter may provide, the bonds may:
(1) Be in registered or other form;
(2) Be in such denominations;
(3) Be exchangeable for bonds of another denomination;
(4) Be made payable at such places within or without the state;
(5) Be issued in one (1) or more series;
(6) Bear such date or dates;
(7) Mature at such time or times;
(8) Be payable in such medium of payment;
(9) Be subject to such terms of redemption; and
(10) May contain such other terms, covenants, and conditions, including, without limitation, those pertaining to:
(A) The custody and application of the proceeds of the bonds;
(B) The collection and disposition of tax collections;
(C) The maintenance of various funds and reserves;
(D) The nature and extent of the pledge and security;
(E) The maintaining of taxes;
(F) The remedies on default;
(G) The rights, duties, and obligations of the legislative body of the issuer and the trustee, if any, for the owners of the bonds; and
(H) The rights of the owners of the bonds.
(b) All bonds and notes issued under the provisions of this subchapter shall be and are declared to be negotiable instruments within the meaning of the negotiable instruments law of the state.
Structure Arkansas Code
Subtitle 10 - Economic Development And Tourism Generally
Chapter 164 - Industrial Development Bonds
Subchapter 3 - Local Government Bond Act
§ 14-164-302. Legislative intent
§ 14-164-305. Subchapter supplemental
§ 14-164-307. Financing of economic development projects
§ 14-164-308. Bonds generally — Authorizing ordinance
§ 14-164-309. Bonds generally — Election to authorize issuance
§ 14-164-310. Bonds generally — Terms and conditions
§ 14-164-311. Bonds generally — Interest rates
§ 14-164-312. Bonds generally — Trust indenture
§ 14-164-313. Bonds generally — Contents
§ 14-164-314. Bonds generally — Execution
§ 14-164-315. Bonds generally — Sale
§ 14-164-316. Bonds generally — Pledge of taxes generally
§ 14-164-317. Bonds generally — Pledge and collection of ad valorem taxes
§ 14-164-318. Bonds generally — Successive issues
§ 14-164-319. Bonds generally — Mortgage lien — Definition
§ 14-164-320. Bonds generally — Liability
§ 14-164-321. Bonds generally — Tax exemption
§ 14-164-322. Bonds generally — Multipurpose bonds
§ 14-164-323. Bonds generally — Interim borrowing
§ 14-164-325. Taxes not state revenues
§ 14-164-326. Capital improvement bonds — Hotel and restaurant tax
§ 14-164-327. Capital improvement bonds — Local sales and use tax — Levy
§ 14-164-328. Capital improvement bonds — Local sales and use tax — Election to authorize
§ 14-164-332. Capital improvement bonds — Local sales and use tax — Pledge
§ 14-164-333. Capital improvement bonds — Local sales and use tax — Administration, collection, etc
§ 14-164-334. Capital improvement bonds — Local sales and use tax — Single transactions
§ 14-164-335. Capital improvement bonds — Local sales and use tax — Reports
§ 14-164-336. Local Sales and Use Tax Trust Fund
§ 14-164-337. Pledge of preexisting sales and use tax
§ 14-164-338. Alternative to issuance of bonds
§ 14-164-339. Simultaneous pledge of local sales and use tax
§ 14-164-340. Alternative to issuance of bonds — Criminal justice projects — Definition