(a) The ordinance authorizing bonds may provide for the execution by the chief executive officer of the issuer of a trust indenture that:
(1) Defines the rights of the owners of the bonds; and
(2) Provides for the appointment of a trustee for the owners of the bonds.
(b) A trust indenture executed under this section may:
(1) Provide for the priority between and among successive issues; and
(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.
Structure Arkansas Code
Subtitle 10 - Economic Development And Tourism Generally
Chapter 164 - Industrial Development Bonds
Subchapter 8 - Local Government Energy Efficiency Project Bond Act
§ 14-164-802. Purpose — Legislative findings
§ 14-164-804. Energy efficiency projects authorized
§ 14-164-805. Method of solicitation
§ 14-164-806. Evaluation of responses to solicitations
§ 14-164-807. Guaranteed energy cost savings contract requirements
§ 14-164-808. Bonds — Issuance generally
§ 14-164-809. Bonds — Terms and conditions
§ 14-164-810. Bonds — Trust indenture
§ 14-164-812. Bonds — Execution
§ 14-164-813. Bonds — Payment — Security
§ 14-164-814. Bonds — Energy efficiency project liens
§ 14-164-815. Liability of legislative body's officers, employees, and members