Ark. Code Ann. § 22-3-1207
This is the official text of Ark. Code Ann. § 22-3-1207, 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.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Certificates of indebtedness - Issuance and purchase authorized
Official statutory text
(a) (1) For the purpose of providing funds for the construction of buildings as authorized in this subchapter, the Director of the Building Authority Division, with the approval of the Governor and the Secretary of the Department of Transformation and Shared Services, is authorized and empowered to issue, and the State Board of Finance is authorized and empowered to purchase, Building Authority Division certificates of indebtedness of a total principal amount not to exceed twenty-five million dollars ($25,000,000). (2) However, this authority shall be continuing, solely for the purposes as authorized in § 22-3-1205(a)(1) and (2) , so long as the total outstanding principal amount of the Building Authority Division certificates of indebtedness shall not exceed, at any one time, more than twenty-five million dollars ($25,000,000). (b) The sale and purchase price of the certificates shall be at their par value. Amended by Act 2019, No. 910,§ 6198, eff. 7/1/2019. Amended by Act 2016EX3, No. 3,§ 66, eff. 5/23/2016. Amended by Act 2016EX3, No. 2,§ 66, eff. 5/23/2016. Acts 1983, No. 458, § 4; 1983 (Ex. Sess.), No. 112, § 3; A.S.A. 1947, § 13-2604; Acts 1987, No. 652, § 2.
(a) (1) For the purpose of providing funds for the construction of buildings as authorized in this subchapter, the Director of the Building Authority Division, with the approval of the Governor and the Secretary of the Department of Transformation and Shared Services, is authorized and empowered to issue, and the State Board of Finance is authorized and empowered to purchase, Building Authority Division certificates of indebtedness of a total principal amount not to exceed twenty-five million dollars ($25,000,000). (2) However, this authority shall be continuing, solely for the purposes as authorized in § 22-3-1205(a)(1) and (2) , so long as the total outstanding principal amount of the Building Authority Division certificates of indebtedness shall not exceed, at any one time, more than twenty-five million dollars ($25,000,000).
(1) For the purpose of providing funds for the construction of buildings as authorized in this subchapter, the Director of the Building Authority Division, with the approval of the Governor and the Secretary of the Department of Transformation and Shared Services, is authorized and empowered to issue, and the State Board of Finance is authorized and empowered to purchase, Building Authority Division certificates of indebtedness of a total principal amount not to exceed twenty-five million dollars ($25,000,000).
(2) However, this authority shall be continuing, solely for the purposes as authorized in § 22-3-1205(a)(1) and (2) , so long as the total outstanding principal amount of the Building Authority Division certificates of indebtedness shall not exceed, at any one time, more than twenty-five million dollars ($25,000,000).
(b) The sale and purchase price of the certificates shall be at their par value.
Amended by Act 2019, No. 910,§ 6198, eff. 7/1/2019.
Amended by Act 2016EX3, No. 3,§ 66, eff. 5/23/2016.
Amended by Act 2016EX3, No. 2,§ 66, eff. 5/23/2016.
Acts 1983, No. 458, § 4; 1983 (Ex. Sess.), No. 112, § 3; A.S.A. 1947, § 13-2604; Acts 1987, No. 652, § 2.
(a) (1) For the purpose of providing funds for the construction of buildings as authorized in this subchapter, the Director of the Building Authority Division, with the approval of the Governor and the Secretary of the Department of Transformation and Shared Services, is authorized and empowered to issue, and the State Board of Finance is authorized and empowered to purchase, Building Authority Division certificates of indebtedness of a total principal amount not to exceed twenty-five million dollars ($25,000,000). (2) However, this authority shall be continuing, solely for the purposes as authorized in § 22-3-1205(a)(1) and (2) , so long as the total outstanding principal amount of the Building Authority Division certificates of indebtedness shall not exceed, at any one time, more than twenty-five million dollars ($25,000,000).
(1) For the purpose of providing funds for the construction of buildings as authorized in this subchapter, the Director of the Building Authority Division, with the approval of the Governor and the Secretary of the Department of Transformation and Shared Services, is authorized and empowered to issue, and the State Board of Finance is authorized and empowered to purchase, Building Authority Division certificates of indebtedness of a total principal amount not to exceed twenty-five million dollars ($25,000,000).
(2) However, this authority shall be continuing, solely for the purposes as authorized in § 22-3-1205(a)(1) and (2) , so long as the total outstanding principal amount of the Building Authority Division certificates of indebtedness shall not exceed, at any one time, more than twenty-five million dollars ($25,000,000).
(b) The sale and purchase price of the certificates shall be at their par value.
Amended by Act 2019, No. 910,§ 6198, eff. 7/1/2019.
Amended by Act 2016EX3, No. 3,§ 66, eff. 5/23/2016.
Amended by Act 2016EX3, No. 2,§ 66, eff. 5/23/2016.
Acts 1983, No. 458, § 4; 1983 (Ex. Sess.), No. 112, § 3; A.S.A. 1947, § 13-2604; Acts 1987, No. 652, § 2.
Status: in_force
Need a lawyer in Arkansas?
Find a Arkansas lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.