Ark. Code Ann. § 22-3-1208
This is the official text of Ark. Code Ann. § 22-3-1208, 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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Certificates of indebtedness - Terms and execution
Official statutory text
(a) (1) The certificates of indebtedness shall be in such form and denomination, and shall have such dates and maturities, and may be issued in such series, as the Building Authority Division shall determine. (2) The schedule of principal and interest maturities shall be arranged so that the aggregate amount maturing each year, except for the initial year or portion thereof, shall be equal, to the nearest hundred dollars, to each other annual installment, and that not more than twenty-one (21) years from date of issue will be required to retire all the certificates of any one (1) issue or series of certificates of indebtedness. (b) The certificates shall contain a provision providing for their redemption in advance of maturity, at par, in inverse number order, at the option of the division. (c) (1) The certificates shall bear interest from the date of issuance at the rate of eight and one-half percent (8½%) per annum, payable semiannually on January 1 and July 1; the payment of the interest is to be evidenced by endorsement on the certificates by the Treasurer of State. (2) Payment of the principal of and interest on the certificates shall be made in lawful money of the United States at the office of the Treasurer of State. (d) The certificates of indebtedness shall be executed on behalf of the division by the Secretary of the Department of Transformation and Shared Services. Amended by Act 2019, No. 910,§ 6200, eff. 7/1/2019. Amended by Act 2019, No. 910,§ 6199, eff. 7/1/2019. Amended by Act 2016EX3, No. 3,§ 67, eff. 5/23/2016. Amended by Act 2016EX3, No. 2,§ 67, eff. 5/23/2016. Acts 1983, No. 458, § 5; A.S.A. 1947, § 13-2605; Acts 1987, No. 652, § 3.
(a) (1) The certificates of indebtedness shall be in such form and denomination, and shall have such dates and maturities, and may be issued in such series, as the Building Authority Division shall determine. (2) The schedule of principal and interest maturities shall be arranged so that the aggregate amount maturing each year, except for the initial year or portion thereof, shall be equal, to the nearest hundred dollars, to each other annual installment, and that not more than twenty-one (21) years from date of issue will be required to retire all the certificates of any one (1) issue or series of certificates of indebtedness.
(1) The certificates of indebtedness shall be in such form and denomination, and shall have such dates and maturities, and may be issued in such series, as the Building Authority Division shall determine.
(2) The schedule of principal and interest maturities shall be arranged so that the aggregate amount maturing each year, except for the initial year or portion thereof, shall be equal, to the nearest hundred dollars, to each other annual installment, and that not more than twenty-one (21) years from date of issue will be required to retire all the certificates of any one (1) issue or series of certificates of indebtedness.
(b) The certificates shall contain a provision providing for their redemption in advance of maturity, at par, in inverse number order, at the option of the division.
earest hundred dollars, to each other annual installment, and that not more than twenty-one (21) years from date of issue will be required to retire all the certificates of any one (1) issue or series of certificates of indebtedness.
(b) The certificates shall contain a provision providing for their redemption in advance of maturity, at par, in inverse number order, at the option of the division.
(c) (1) The certificates shall bear interest from the date of issuance at the rate of eight and one-half percent (8½%) per annum, payable semiannually on January 1 and July 1; the payment of the interest is to be evidenced by endorsement on the certificates by the Treasurer of State. (2) Payment of the principal of and interest on the certificates shall be made in lawful money of the United States at the office of the Treasurer of State.
(1) The certificates shall bear interest from the date of issuance at the rate of eight and one-half percent (8½%) per annum, payable semiannually on January 1 and July 1; the payment of the interest is to be evidenced by endorsement on the certificates by the Treasurer of State.
(2) Payment of the principal of and interest on the certificates shall be made in lawful money of the United States at the office of the Treasurer of State.
(d) The certificates of indebtedness shall be executed on behalf of the division by the Secretary of the Department of Transformation and Shared Services.
Amended by Act 2019, No. 910,§ 6200, eff. 7/1/2019.
Amended by Act 2019, No. 910,§ 6199, eff. 7/1/2019.
Amended by Act 2016EX3, No. 3,§ 67, eff. 5/23/2016.
Amended by Act 2016EX3, No. 2,§ 67, eff. 5/23/2016.
Acts 1983, No. 458, § 5; A.S.A. 1947, § 13-2605; Acts 1987, No. 652, § 3.
(a) (1) The certificates of indebtedness shall be in such form and denomination, and shall have such dates and maturities, and may be issued in such series, as the Building Authority Division shall determine. (2) The schedule of principal and interest maturities shall be arranged so that the aggregate amount maturing each year, except for the initial year or portion thereof, shall be equal, to the nearest hundred dollars, to each other annual installment, and that not more than twenty-one (21) years from date of issue will be required to retire all the certificates of any one (1) issue or series of certificates of indebtedness.
(1) The certificates of indebtedness shall be in such form and denomination, and shall have such dates and maturities, and may be issued in such series, as the Building Authority Division shall determine.
(2) The schedule of principal and interest maturities shall be arranged so that the aggregate amount maturing each year, except for the initial year or portion thereof, shall be equal, to the nearest hundred dollars, to each other annual installment, and that not more than twenty-one (21) years from date of issue will be required to retire all the certificates of any one (1) issue or series of certificates of indebtedness.
(b) The certificates shall contain a provision providing for their redemption in advance of maturity, at par, in inverse number order, at the option of the division.
earest hundred dollars, to each other annual installment, and that not more than twenty-one (21) years from date of issue will be required to retire all the certificates of any one (1) issue or series of certificates of indebtedness.
(b) The certificates shall contain a provision providing for their redemption in advance of maturity, at par, in inverse number order, at the option of the division.
(c) (1) The certificates shall bear interest from the date of issuance at the rate of eight and one-half percent (8½%) per annum, payable semiannually on January 1 and July 1; the payment of the interest is to be evidenced by endorsement on the certificates by the Treasurer of State. (2) Payment of the principal of and interest on the certificates shall be made in lawful money of the United States at the office of the Treasurer of State.
(1) The certificates shall bear interest from the date of issuance at the rate of eight and one-half percent (8½%) per annum, payable semiannually on January 1 and July 1; the payment of the interest is to be evidenced by endorsement on the certificates by the Treasurer of State.
(2) Payment of the principal of and interest on the certificates shall be made in lawful money of the United States at the office of the Treasurer of State.
(d) The certificates of indebtedness shall be executed on behalf of the division by the Secretary of the Department of Transformation and Shared Services.
Amended by Act 2019, No. 910,§ 6200, eff. 7/1/2019.
Amended by Act 2019, No. 910,§ 6199, eff. 7/1/2019.
Amended by Act 2016EX3, No. 3,§ 67, eff. 5/23/2016.
Amended by Act 2016EX3, No. 2,§ 67, eff. 5/23/2016.
Acts 1983, No. 458, § 5; A.S.A. 1947, § 13-2605; Acts 1987, No. 652, § 3.
Status: in_force
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