Arkansas Code Title 15, Subtitle 1, Chapter 5, Subchapter 3 - Arkansas Development Finance Authority Act -- Bonds

• § 15-5-301 - Power to Issue Bonds.
  (a) (1) The Arkansas Development Finance Authority is authorized and empowered to issue bonds, whether or not the interest on the bonds is subject...
• § 15-5-302 - Underwriters and Experts.
  (a) The Arkansas Development Finance Authority, when requested to do so by a state agency or a political subdivision, is authorized and empowered to...
• § 15-5-303 - Exclusive Issuer of Revenue Bonds for Public Facilities.
  It is the intention of the General Assembly that the Arkansas Development Finance Authority shall be the exclusive issuer of revenue bonds for public...
• § 15-5-304 - Exclusive Issuer of Mortgage Bonds.
  For purposes of compliance with the Mortgage Subsidy Bond Tax Act of 1980, the General Assembly finds and declares that the Arkansas Development Finance...
• § 15-5-305 - Authorized Investors.
  Any municipality or any board, commission, or other authority duly established by ordinance of any municipality or the boards of trustees, respectively, of the...
• § 15-5-306 - Tax Exemption.
  Any bonds issued under the provisions of this subchapter and §§ 15-5-101 -- 15-5-106, 15-5-201 -- 15-5-211, and 15-5-213 and the interest paid thereon,...
• § 15-5-307 - Request to Issue Certain Bonds.
  (a) When gubernatorial approval is required by the provisions of the Tax Equity and Fiscal Responsibility Act of 1982 or any other federal or...
• § 15-5-308 - Notice of Issue -- Disapproval.
  (a) Not less than thirty (30) days prior to the issuance of any bonds authorized under this subchapter and §§ 15-5-101 -- 15-5-106, 15-5-201...
• § 15-5-309 - Authorizing Resolution and Trust Indenture -- Terms and Qualities of Bonds.
  (a) (1) Bonds issued in accordance with this subchapter shall be authorized by resolution of the Arkansas Development Finance Authority. (2) The bonds may...
• § 15-5-310 - Sale.
  (a) The bonds may be sold in such manner, either at public or private sale, and upon such terms as the Arkansas Development Finance...
• § 15-5-311 - Execution.
  (a) The bonds shall be executed by manual or facsimile signature of the Chair of the Board of Directors of the Arkansas Development Finance...
• § 15-5-312 - Statement on Face of Bond -- Security.
  (a) It shall be plainly stated on the face of each bond that it has been issued under this subchapter, that the bonds shall...
• § 15-5-313 - Pledge Valid and Binding -- Lien.
  (a) Any pledge of revenues, moneys, funds, or other property made by the Arkansas Development Finance Authority shall be valid and binding from the...
• § 15-5-314 - Refunding Bonds.
  (a) Bonds may be issued for the purpose of refunding, either at maturity or in advance of maturity, any: (1) Bonds issued under this...
• § 15-5-315 - Securing Deposit of Public Funds.
  Bonds issued under this subchapter shall be eligible to secure the deposit of public funds.
• § 15-5-316 - No Personal Liability.
  No director or officer of the Arkansas Development Finance Authority shall be liable personally for any reason arising from the issuance of bonds under...
• § 15-5-317 - Power to Enter Into an Interest Rate Exchange Agreement or Similar Agreement or Contract.
  (a) In connection with bonds issued before, on, or after March 18, 2003, the Arkansas Development Finance Authority shall have the power to: (1)...
• § 15-5-318 - Primary Administration of Federal Allocations of Private Activity and Governmental Volume Cap.
  (a) (1) Except as provided in subsection (b) of this section, the Arkansas Development Finance Authority is hereby recognized as the primary administrator of...

Last modified: November 15, 2016