Arkansas Code Title 15, Subtitle 2, Chapter 22, Subchapter 7 - Arkansas Waste Disposal and Pollution Abatement Facilities Financing Act of 1987

• § 15-22-701 - Title.
  This subchapter may be referred to and cited as the "Arkansas Waste Disposal and Pollution Abatement Facilities Financing Act of 1987".
• § 15-22-702 - Definitions.
  As used in this subchapter: (1) "Commission" means the Arkansas Natural Resources Commission and any successor agency or department; (2) "Debt service" means principal,...
• § 15-22-703 - Construction.
  (a) This subchapter shall be liberally construed to accomplish the purposes of this subchapter. This subchapter shall constitute the sole authority necessary to accomplish...
• § 15-22-704 - Powers of Commission.
  In addition to powers conferred under other laws, the Arkansas Natural Resources Commission shall have the power under this subchapter to: (1) Provide loans...
• § 15-22-705 - Waste Disposal and Pollution Abatement Facilities Bonds -- Authority to Issue.
  The Arkansas Natural Resources Commission is authorized to issue bonds of the State of Arkansas, to be known as "State of Arkansas Waste Disposal...
• § 15-22-706 - Bonds -- Principal Amount.
  The total principal amount of bonds to be issued during any fiscal biennium shall not exceed fifty million dollars ($50,000,000), unless the General Assembly,...
• § 15-22-707 - Bonds -- Approval of Governor.
  (a) Before any bonds may be issued during any fiscal biennium, the Arkansas Natural Resources Commission shall submit to the Governor a written plan...
• § 15-22-708 - Bonds -- Purpose of Issuance and Application of Proceeds.
  Bonds issued under this subchapter shall be issued for the purpose of financing and development of waste disposal facilities or pollution abatement facilities, and...
• § 15-22-709 - Bonds -- Form.
  The bonds may be issued in the form of coupon bonds, payable to bearer, or as bonds registered as to principal only with interest...
• § 15-22-710 - Bonds -- Individual Series.
  (a) The bonds shall be issued in series as set forth in this section, in amounts sufficient to finance all or any part of...
• § 15-22-711 - Bonds -- Authorizing Resolution, Trust Indenture, and Selection of Projects.
  (a) (1) The bonds shall be authorized by resolution of the Arkansas Natural Resources Commission. (2) Each resolution shall contain such terms, covenants, and...
• § 15-22-712 - Bonds -- Execution and Delivery.
  (a) (1) Each bond shall be signed with the facsimile signatures of the Governor, the Secretary of State, and the Chair of the Arkansas...
• § 15-22-713 - Bonds -- Sale After Notice.
  (a) Bonds shall be sold at public sale on sealed bids, after notice published by the Chair of the Arkansas Natural Resources Commission by...
• § 15-22-714 - Bonds As General Obligations of State -- Pledge of Revenues.
  (a) The bonds shall be the direct general obligations of the State of Arkansas for the payment of debt service on which the full...
• § 15-22-715 - Payment of Debt Service -- Transfer and Use of Funds.
  (a) (1) On or before commencement of each fiscal year, the Chief Fiscal Officer of the State shall determine the estimated amount required for...
• § 15-22-716 - Tax Exemption -- Legal Investment.
  (a) All bonds issued under this subchapter and interest on the bonds shall be exempt from all taxes of the State of Arkansas, including...
• § 15-22-717 - Contract Not to Be Impaired -- Remedies of Bondholder.
  (a) This subchapter shall constitute a contract between the State of Arkansas and the holders or registered owners of all bonds issued under this...
• § 15-22-718 - Creation of Rights.
  This subchapter shall not create any right of any character and no right of any character shall arise under or pursuant to it unless...
• § 15-22-719 - Deposit of Proceeds of Sale of Bonds.
  (a) The proceeds from the sale of the bonds, together with all revenues derived by the Arkansas Natural Resources Commission from any project financed...
• § 15-22-720 - Investment of Moneys.
  Any moneys held in any fund created under this subchapter shall be invested by the State Board of Finance to the full extent practicable...
• § 15-22-721 - Expediting Cases.
  Any case involving the validity of this subchapter or involving the bonds issued under this subchapter shall be deemed of public interest and shall...

Last modified: November 15, 2016