The Arkansas Economic Development Council, acting through the Division of Minority Business Enterprise of the Arkansas Economic Development Commission, is authorized and empowered to use the proceeds of any bonds issued under this subchapter, together with any other available funds, for the making of loans for:
(1) The purchase of investment loans and paying of incidental expenses in connection therewith;
(2) Paying the expenses of amortizing and issuing the bonds;
(3) Paying interest on the bonds until revenues thereon are available in sufficient amounts; and
(4) Funding such debt service reserves as the council deems necessary or desirable.
Section: Previous 15-4-403 15-4-404 15-4-405 15-4-406 15-4-407 15-4-408 15-4-409 15-4-410 15-4-411 15-4-412 15-4-413 15-4-414 15-4-415 15-4-416 NextLast modified: November 15, 2016