(a) The ordinance 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 § 14-164-406 and any other terms, covenants, and conditions that are deemed desirable.
Structure Arkansas Code
Subtitle 10 - Economic Development And Tourism Generally
Chapter 164 - Industrial Development Bonds
Subchapter 4 - Local Government Capital Improvement Revenue Bond Act
§ 14-164-404. Subchapter supplemental
§ 14-164-405. Bonds — Issuance generally
§ 14-164-406. Bonds — Terms and conditions
§ 14-164-407. Bonds — Trust indenture
§ 14-164-408. Bonds — Contents
§ 14-164-410. Bonds — Execution
§ 14-164-411. Bonds — Payment — Security
§ 14-164-412. Bonds — Mortgage lien
§ 14-164-413. Bonds — Special obligations
§ 14-164-414. Bonds — Liability of legislative body's officers, employees, or members
§ 14-164-415. Bonds — Successive issues
§ 14-164-416. Bonds — Tax exemption