Arkansas Code Title 14. Local Government § 14-144-308. Issuance of revenue bonds--Mortgage lien
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(a) The resolution or indenture securing the bonds may impose a foreclosable mortgage lien upon or security interest in the facilities of the research park authority or any portion of the facilities, and the extent of the mortgage lien or security interest may be controlled by the resolution or indenture, including without limitation provisions pertaining to the release of all or part of the facilities subject to the mortgage lien or security interest in the event of successive issues of bonds.
(b) Subject to the terms, conditions, and restrictions contained in the resolution or indenture, any holder of any of the bonds or of any coupon attached to a bond or a trustee on behalf of the holders either at law or in equity may enforce the mortgage lien or security interest and by proper suit may compel the performance of the duties of the officials of the authority set forth in this chapter and set forth in the resolution or indenture.
Cite this article: FindLaw.com - Arkansas Code Title 14. Local Government § 14-144-308. Issuance of revenue bonds--Mortgage lien - last updated January 01, 2020 | https://codes.findlaw.com/ar/title-14-local-government/ar-code-sect-14-144-308/
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