Arkansas Code Title 14. Local Government § 14-167-208. Bonds--Form and characteristics

(1) Be in such form and denominations;

(2) Be exchangeable for bonds of another denomination;

(3) Be made payable at such places within or without the state;

(4) Be issued in one (1) or more series;

(5) Bear such date or dates;

(6) Mature at such time or times, not exceeding forty (40) years from their respective dates;

(7) Bear interest at such rate or rates;

(8) Be payable in such medium of payment;

(9) Be subject to such terms of redemption; and

(10) Contain such terms, covenants, and conditions, including, without limitation, those pertaining to: