Ark. Code Ann. § 15-4-406
This is the official text of Ark. Code Ann. § 15-4-406, part of Arkansas’s Code Ann — part of the compiled statutory law of Arkansas, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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Authority to issue revenue bonds - Loan funds
Official statutory text
To stimulate the flow of private funds for capital improvements to small business concerns, the Arkansas Economic Development Council is authorized to: (1) Issue revenue bonds to obtain funds to be administered through the Division of Minority Business Enterprise of the Arkansas Economic Development Commission to make investment loans to small business concerns insured by the United States Small Business Administration; and (2) Provide funds whereby the division may purchase from small business investment companies small business enterprise loans for capital improvements and expansions guaranteed by the United States Small Business Administration, thereby making available to such small business investment companies additional loan funds. Acts 1985, No. 869, § 4; A.S.A. 1947, § 9-572; Acts 1997, No. 540, § 73.
To stimulate the flow of private funds for capital improvements to small business concerns, the Arkansas Economic Development Council is authorized to:
(1) Issue revenue bonds to obtain funds to be administered through the Division of Minority Business Enterprise of the Arkansas Economic Development Commission to make investment loans to small business concerns insured by the United States Small Business Administration; and
(2) Provide funds whereby the division may purchase from small business investment companies small business enterprise loans for capital improvements and expansions guaranteed by the United States Small Business Administration, thereby making available to such small business investment companies additional loan funds.
Acts 1985, No. 869, § 4; A.S.A. 1947, § 9-572; Acts 1997, No. 540, § 73.
To stimulate the flow of private funds for capital improvements to small business concerns, the Arkansas Economic Development Council is authorized to:
(1) Issue revenue bonds to obtain funds to be administered through the Division of Minority Business Enterprise of the Arkansas Economic Development Commission to make investment loans to small business concerns insured by the United States Small Business Administration; and
(2) Provide funds whereby the division may purchase from small business investment companies small business enterprise loans for capital improvements and expansions guaranteed by the United States Small Business Administration, thereby making available to such small business investment companies additional loan funds.
Acts 1985, No. 869, § 4; A.S.A. 1947, § 9-572; Acts 1997, No. 540, § 73.
Status: in_force
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