(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 § 14-164-310 and any other terms, covenants, and conditions that are deemed desirable.(c) A municipality or county is not required to publish an indenture or other agreement if: (1) The ordinance that authorizes the indenture or other agreement:(A) Is published as required by law governing the publication of an ordinance; and(B) States that a copy of the indenture or other agreement is on file in the office of the clerk or recorder of the municipality or county for inspection by an interested person; and(2) A copy of the indenture or other agreement is filed in the office of the clerk or recorder of the municipality or county.Acts 1985, No. 871, § 5; A.S.A. 1947, § 13-1243; Acts 2007, No. 603, § 1. (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 § 14-164-310 and any other terms, covenants, and conditions that are deemed desirable.(c) A municipality or county is not required to publish an indenture or other agreement if: (1) The ordinance that authorizes the indenture or other agreement:(A) Is published as required by law governing the publication of an ordinance; and(B) States that a copy of the indenture or other agreement is on file in the office of the clerk or recorder of the municipality or county for inspection by an interested person; and(2) A copy of the indenture or other agreement is filed in the office of the clerk or recorder of the municipality or county.Acts 1985, No. 871, § 5; A.S.A. 1947, § 13-1243; Acts 2007, No. 603, § 1.
Arkansas Legal Code