Ark. Code Ann. § 15-4-703
This is the official text of Ark. Code Ann. § 15-4-703, 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 bonds - Arkansas Economic Development Council determinations
Official statutory text
(a) If at the time there are no other available moneys to meet the then-present or reasonably projected obligations of the Revenue Bond Guaranty Account, the Arkansas Economic Development Council shall proceed promptly to issue bonds, as authorized in this subchapter, in such principal amounts as may be necessary to enable the council to meet, as and when due, all obligations of the account. (b) The authority to issue bonds shall be a continuing authority that may be exercised from time to time. (c) Determination of when additional moneys will be needed for the account, the amounts that will be needed, the availability or unavailability of other moneys, the necessity for the issuance of bonds, and the principal amounts of bonds to be issued shall be made solely by the council in the exercise of its discretion. Acts 1969, No. 397, § 1; A.S.A. 1947, § 9-567.
(a) If at the time there are no other available moneys to meet the then-present or reasonably projected obligations of the Revenue Bond Guaranty Account, the Arkansas Economic Development Council shall proceed promptly to issue bonds, as authorized in this subchapter, in such principal amounts as may be necessary to enable the council to meet, as and when due, all obligations of the account.
(b) The authority to issue bonds shall be a continuing authority that may be exercised from time to time.
(c) Determination of when additional moneys will be needed for the account, the amounts that will be needed, the availability or unavailability of other moneys, the necessity for the issuance of bonds, and the principal amounts of bonds to be issued shall be made solely by the council in the exercise of its discretion.
Acts 1969, No. 397, § 1; A.S.A. 1947, § 9-567.
(a) If at the time there are no other available moneys to meet the then-present or reasonably projected obligations of the Revenue Bond Guaranty Account, the Arkansas Economic Development Council shall proceed promptly to issue bonds, as authorized in this subchapter, in such principal amounts as may be necessary to enable the council to meet, as and when due, all obligations of the account.
(b) The authority to issue bonds shall be a continuing authority that may be exercised from time to time.
(c) Determination of when additional moneys will be needed for the account, the amounts that will be needed, the availability or unavailability of other moneys, the necessity for the issuance of bonds, and the principal amounts of bonds to be issued shall be made solely by the council in the exercise of its discretion.
Acts 1969, No. 397, § 1; A.S.A. 1947, § 9-567.
Status: in_force
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