Arkansas Code Title 11, Chapter 10, Subchapter 10 - Unemployment Trust Fund Financing Act of 2011

• § 11-10-1001 - Title.
  This subchapter shall be known and cited as the "Unemployment Trust Fund Financing Act of 2011".
• § 11-10-1002 - Legislative Findings and Intent.
  The General Assembly finds that: (1) With a recession or economic slowdown now underway, the state's unemployment trust fund faces higher claims levels and...
• § 11-10-1003 - Definitions.
  As used in this subchapter: (1) "Authority" means the Arkansas Development Finance Authority; (2) "Bonds" means the "Arkansas Unemployment Trust Fund Bonds", as authorized...
• § 11-10-1004 - Authorization -- Purposes.
  (a) The Arkansas Development Finance Authority is authorized, subject to the approval of the voters in a statewide election, to issue bonds to be...
• § 11-10-1005 - Governor's Proclamation.
  (a) The Arkansas Development Finance Authority shall prepare and distribute to the Governor a report that shall contain a plan for repaying the federal...
• § 11-10-1006 - Election.
  (a) (1) Arkansas Unemployment Trust Fund Bonds shall not be issued under this subchapter unless the issuance of bonds has been approved by a...
• § 11-10-1007 - Procedure for Issuing Arkansas Unemployment Trust Fund Bonds.
  (a) Prior to the issuance of Arkansas Unemployment Trust Fund Bonds, the Arkansas Development Finance Authority shall adopt a resolution authorizing the issuance of...
• § 11-10-1008 - Terms of Bonds.
  The Arkansas Unemployment Trust Fund Bonds are subject to the following terms and conditions: (1) (A) The bonds may be issued in more than...
• § 11-10-1009 - Sale of Bonds.
  (a) The Arkansas Unemployment Trust Fund Bonds may be sold in any manner, either at private or public sale, and upon terms as the...
• § 11-10-1010 - Employment of Professionals.
  Under § 15-5-212, the Arkansas Development Finance Authority may employ and retain any professionals that the Arkansas Development Finance Authority deems necessary to accomplish...
• § 11-10-1011 - Sources of Repayment.
  (a) The Arkansas Unemployment Trust Fund Bonds shall be payable from the designated revenues.(b) (1) The unemployment obligation assessment shall be collected until the...
• § 11-10-1012 - Investment of Proceeds.
  (a) Proceeds from the sale of the bonds shall be deposited into trust funds or accounts established under the resolution or trust indenture authorizing...
• § 11-10-1013 - Refunding Bonds.
  (a) The Arkansas Development Finance Authority may issue the Arkansas Unemployment Trust Fund Bonds for the purpose of refunding bonds previously issued under this...
• § 11-10-1014 - Liability.
  Officers, officials, employees, and members of the Board of Directors of the Arkansas Development Finance Authority are not liable personally for any reason arising...
• § 11-10-1015 - Tax Exemption.
  (a) All Arkansas Unemployment Trust Fund Bonds issued under this subchapter and interest on the bonds shall be exempt from all taxes of the...
• § 11-10-1016 - Bonds -- Rights and Liabilities -- Enforcement.
  (a) (1) This subchapter shall constitute a contract between the State of Arkansas and the registered owners of all State of Arkansas Unemployment Trust...
• § 11-10-1017 - Unemployment Obligation Assessment.
  (a) (1) (A) Except employers that have made an election to reimburse the Unemployment Compensation Fund under § 11-10-713(c), each employer shall pay a...
• § 11-10-1018 - Department of Workforce Services -- Bond Financing Trust Fund.
  (a) (1) There is established on the books of the Department of Workforce Services a special restricted fund to be known as the "Bond...

Last modified: November 15, 2016