(a) The resolution authorizing the issuance of bonds may provide for the execution by the Arkansas Development Finance Authority with a financial institution within or without the State of Arkansas of a trust indenture.
(b) The trust indenture may contain any terms, covenants, and conditions that are deemed desirable by the authority, including, without limitation, those pertaining to the maintainance of various funds and reserves, the nature and extent of the security, the custody and application of the proceeds of the bonds, the collection and disposition of revenues, and the rights, duties, and obligations of the authority and of the holders and registered owners of the bonds.
Section: Previous 15-5-409 15-5-410 15-5-411 15-5-412 15-5-413 15-5-414 15-5-415 15-5-416 15-5-417 15-5-418 15-5-419 15-5-420 15-5-421 15-5-422 NextLast modified: November 15, 2016