Arkansas Code Title 15, Subtitle 1, Chapter 5, Subchapter 4 - Arkansas Development Finance Authority Bond Guaranty Act of 1985

• § 15-5-401 - Title.
  This subchapter may be referred to and cited as the "Arkansas Development Finance Authority Bond Guaranty Act of 1985".
• § 15-5-402 - Legislative Findings and Declaration of Public Necessity.
  (a) The General Assembly finds: (1) That there exists severe economic instability in traditional national and international markets for goods and services produced by...
• § 15-5-403 - Definitions.
  As used in this subchapter: (1) "Act" means the Arkansas Development Finance Authority Bond Guaranty Act of 1985, § 15-5-401 et seq.; (2) "ADFA...
• § 15-5-404 - Power of Authority to Grant or Deny Guaranty Bonds.
  The Arkansas Development Finance Authority, in addition to all the duties and functions defined in the Arkansas Development Finance Authority Act, §§ 15-5-101 --...
• § 15-5-405 - When Bonds May Be Guaranteed.
  Amortization payments on qualified bonds may be guaranteed in instances when: (1) The Arkansas Development Finance Authority deems the utilization of the guaranty is...
• § 15-5-406 - Standards and Regulations for Evaluations.
  The Arkansas Development Finance Authority shall promulgate standards and regulations for the evaluation of the financial condition and business history of developers and may...
• § 15-5-407 - Bond Guaranty Reserve Account -- Investment of Funds.
  (a) (1) The Arkansas Development Finance Authority is authorized to establish a Bond Guaranty Reserve Account in an Arkansas financial institution or institutions that...
• § 15-5-408 - Evidence to Support Guaranty -- Premium Payment.
  (a) Each borrower requesting a guaranty under this subchapter shall submit to the Arkansas Development Finance Authority supporting documents, instruments, contractor's costs or estimated...
• § 15-5-409 - Review of Applications.
  (a) All applications filed with the Arkansas Development Finance Authority under the provisions of this subchapter shall first be reviewed by the appropriate designated...
• § 15-5-410 - No Private Right Against Authority Under §§ 15-5-408 and 15-5-409.
  No provision of §§ 15-5-408 and 15-5-409 shall be interpreted to create any private right against any member of the Arkansas Development Finance Authority...
• § 15-5-411 - Grants to Fund.
  (a) The Arkansas Development Finance Authority is authorized to accept grants to its Bond Guaranty Reserve Account from any state or federal agencies, municipalities,...
• § 15-5-412 - Guaranty Agreement Provision.
  Guaranty agreements entered into by the Arkansas Development Finance Authority under the provisions of this subchapter with respect to qualified bonds issued on behalf...
• § 15-5-413 - Regulations -- Remedies.
  (a) The Arkansas Development Finance Authority is authorized and directed to conduct such investigation as it may determine necessary for the promulgation of regulations...
• § 15-5-414 - Authority to Use Money Committed to Other Projects.
  (a) If the Arkansas Development Finance Authority shall at any time determine that the moneys in the Bond Guaranty Reserve Account are not or...
• § 15-5-415 - Issuance of Bonds to Provide Additional Moneys.
  (a) If at the time there are no other available moneys to meet the then-present or reasonably projected obligations of the Bond Guaranty Reserve...
• § 15-5-416 - Authorizing Resolution.
  (a) The bonds shall be authorized by resolution of the Arkansas Development Finance Authority.(b) The bonds may be issued at one (1) time or...
• § 15-5-417 - Trust Indenture.
  (a) The resolution authorizing the issuance of bonds may provide for the execution by the Arkansas Development Finance Authority with a financial institution within...
• § 15-5-418 - Execution of Bonds and Coupons -- Temporary Notes or Bonds.
  (a) The bonds shall be executed by the facsimile or manual signature of the Chair of the Arkansas Development Finance Authority and by the...
• § 15-5-419 - Sale of Bonds -- Statement on Face of Bond.
  (a) The bonds may be sold in such manner, either at public or private sale, and upon such terms as the Arkansas Development Finance...
• § 15-5-420 - Obligation of Authority -- Disposition of Proceeds.
  (a) All bonds issued under this subchapter shall be obligations of the Arkansas Development Finance Authority only and shall not be obligations of the...
• § 15-5-421 - Bond Debt Service Amount.
  (a) The Arkansas Development Finance Authority shall notify the Treasurer of State when it has determined to issue bonds under this subchapter and the...
• § 15-5-422 - Moneys for Correction Facilities Construction Fund.
  (a) The Arkansas Development Finance Authority is authorized to accept moneys for the Correction Facilities Construction Fund from any source, including, but not limited...

Last modified: November 15, 2016