Ark. Code § 6-61-1007
The bonds shall be registrable as to principal and interest, and the bonds may be in such form and denominations, may have such date or dates, may mature at such time or times not exceeding thirty (30) years from their date of issuance, may bear interest payable on such dates and at such rate or rates not exceeding the maximum rate allowed by law, may be payable at such place or places within or without the State of Arkansas, may be subject to such terms of redemption in advance of maturity at such prices, including such premiums, and may contain such terms and provisions, all as the board of trustees of the technical college or the community college shall specify in the authorizing resolution or in the trust indenture authorized by § 6-61-1005.
Ark. Code § 6-61-1007