Ark. Code Ann. § 22-3-1214
This is the official text of Ark. Code Ann. § 22-3-1214, 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 - Disposition of proceeds
Official statutory text
Proceeds from the sale of the certificates of indebtedness shall be deposited into the State Treasury as follows: (1) All funds held as a debt service reserve fund in the Public Facilities Debt Service Fund pursuant to the provisions hereof and the earnings thereon shall be applied on or after January 2, 1990, to redeem, to the extent possible, certificates of indebtedness identified as Series B; and (2) The remainder thereof shall be credited as trust funds to the "Public Facilities Construction Fund", which is established by this subdivision (2), and shall be used only for the redemption of the 1977 Bonds and the 1979 Bonds and for the construction of buildings authorized under this subchapter. Acts 1983, No. 458, § 6; A.S.A. 1947, § 13-2606; Acts 1989 (3rd Ex. Sess.), No. 86, § 3.
Proceeds from the sale of the certificates of indebtedness shall be deposited into the State Treasury as follows:
(1) All funds held as a debt service reserve fund in the Public Facilities Debt Service Fund pursuant to the provisions hereof and the earnings thereon shall be applied on or after January 2, 1990, to redeem, to the extent possible, certificates of indebtedness identified as Series B; and
(2) The remainder thereof shall be credited as trust funds to the "Public Facilities Construction Fund", which is established by this subdivision (2), and shall be used only for the redemption of the 1977 Bonds and the 1979 Bonds and for the construction of buildings authorized under this subchapter.
Acts 1983, No. 458, § 6; A.S.A. 1947, § 13-2606; Acts 1989 (3rd Ex. Sess.), No. 86, § 3.
Proceeds from the sale of the certificates of indebtedness shall be deposited into the State Treasury as follows:
(1) All funds held as a debt service reserve fund in the Public Facilities Debt Service Fund pursuant to the provisions hereof and the earnings thereon shall be applied on or after January 2, 1990, to redeem, to the extent possible, certificates of indebtedness identified as Series B; and
(2) The remainder thereof shall be credited as trust funds to the "Public Facilities Construction Fund", which is established by this subdivision (2), and shall be used only for the redemption of the 1977 Bonds and the 1979 Bonds and for the construction of buildings authorized under this subchapter.
Acts 1983, No. 458, § 6; A.S.A. 1947, § 13-2606; Acts 1989 (3rd Ex. Sess.), No. 86, § 3.
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.