(a) The ordinance authorizing the issuance of the revenue bonds may contain provisions for the acceleration of the maturities of all unmatured bonds in the event of default in the payment of any principal or interest maturing under the bond issue, or upon failure to meet any sinking fund requirements, or in any other event stipulated in the ordinance; and such provisions will be binding.
(b) The priorities as between successive issues of revenue bonds may also be controlled by the provisions of the ordinance.
Structure Arkansas Code
Subtitle 3 - Municipal Government
Chapter 57 - Regulation and Taxation of Vehicles by Municipalities
Subchapter 6 - Parking Meter Revenues
§ 14-57-603. Provisions exclusive
§ 14-57-605. Election for issuance of revenue bonds
§ 14-57-606. Form and sale of bonds
§ 14-57-607. Bonds payable from meter revenues
§ 14-57-608. Pledge not to discontinue operation of meters