Arkansas Code Title 15, Subtitle 1, Chapter 5, Subchapter 12 - Petroleum Storage Tank Trust Fund Bond Financing Act

• § 15-5-1201 - Title.
  This subchapter may be known and may be cited as the "Petroleum Storage Tank Trust Fund Bond Financing Act".
• § 15-5-1202 - Purpose.
  The purpose of this subchapter is to provide for the benefit of the public an additional method for financing remediation costs and costs of...
• § 15-5-1203 - Definitions.
  As used in this subchapter: (1) "Act" means the Arkansas Development Finance Authority Act, § 15-5-101 et seq.; (2) "Authority" means the Arkansas Development...
• § 15-5-1204 - Issuance of Revenue Bonds by the Authority.
  (a) (1) Upon the request of the Director of the Arkansas Department of Environmental Quality and based upon an estimate by the Department of...
• § 15-5-1205 - Petroleum Storage Tank Trust Fund Revenue Bond Debt Service Fund -- Pledged Fees.
  (a) (1) The debt service on the bonds shall be secured by a lien on and pledge of the petroleum environmental assurance fee established...
• § 15-5-1206 - Petroleum Storage Tank Trust Fund Revenue Bond Debt Service Fund -- Payment of Debt Service -- Tax Exemption.
  (a) Payment of principal and interest on the bonds shall be paid from the Petroleum Storage Tank Trust Fund Revenue Bond Debt Service Fund...
• § 15-5-1207 - Petroleum Storage Tank Trust Fund Revenue Bond Debt Service Fund -- Expiration of Provision.
  The provisions of this subchapter shall expire upon payment of all principal and accrued interest due on the bonds and any refunding bonds issued.
• § 15-5-1208 - Refunding Bonds.
  (a) The Arkansas Development Finance Authority may provide by resolution for the issuance of refunding bonds to refund outstanding bonds issued under this subchapter...
• § 15-5-1209 - Eligible Security.
  The bonds are eligible to secure deposits of public funds of the state and cities, counties, school districts, districts, authorities, and other political subdivisions...
• § 15-5-1210 - Subchapter Cumulative of Other Laws.
  This subchapter is cumulative of other laws on the subject and the Arkansas Development Finance Authority may use provisions of other applicable laws in...

Last modified: November 15, 2016