(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 cost of improvements, land costs, and other evidence showing conformity with the Arkansas Development Finance Authority Act, ยงยง 15-5-101 -- 15-5-106, 15-5-201 -- 15-5-211, 15-5-213, and 15-5-301 -- 15-5-316, or other law pursuant to which qualified bonds are to be or have been issued.
(b) (1) Each borrower receiving a guaranty under this subchapter shall pay a premium payment or payments to the Bond Guaranty Reserve Account as provided in this section.
(2) The amount and terms of the premium payment shall be determined by the authority taking into consideration the relative degree of risk involved in guaranteeing the project and other appropriate considerations.
Section: Previous 15-5-402 15-5-403 15-5-404 15-5-405 15-5-406 15-5-407 15-5-408 15-5-409 15-5-410 15-5-411 15-5-412 15-5-413 15-5-414 15-5-415 NextLast modified: November 15, 2016