Arkansas Code § 15-4-3008 - Purpose of Bonds

(a) Bonds shall be issued for the purpose of financing superprojects.

(b) The proceeds of the bonds shall be applied:

(1) To the payment of project costs and the costs and expenses of issuance of the bonds;

(2) In connection with a superproject refinancing, to the repayment of indebtedness incurred to pay superproject costs; or

(3) For refunding of bonds as provided in this subchapter.

Section: Previous  15-4-3002  15-4-3003  15-4-3004  15-4-3005  15-4-3006  15-4-3007  15-4-3008  15-4-3009  15-4-3010  15-4-3011  15-4-3012  15-4-3013  15-4-3014  15-4-3015  Next

Last modified: November 15, 2016