Arkansas Code Title 14. Local Government § 14-184-123. Execution of indenture

(1) The maintenance of various funds and reserves;

(2) The nature and extent of the security;

(3) The issuance of additional bonds and the nature of the lien and pledge, parity or priority, in that event;

(4) The custody and application of the proceeds of the bonds;

(5) The collection and disposition of assessments and of revenues;

(6) The investing and reinvesting, in securities specified by the board, of any moneys during periods not needed for authorized purposes; and

(7) The rights, duties, and obligations of the board and the holders and registered owners of the bonds.