Arkansas Code Title 27, Subtitle 5, Chapter 64, Subchapter 4 - Arkansas Interstate Highway Financing Act of 2007

  • § 27-64-401 - Title.
    This subchapter may be referred to and cited as the "Arkansas Interstate Highway Financing Act of 2007".
  • § 27-64-402 - Findings.
    (a) The General Assembly of the State of Arkansas has determined that there is an immediate need for highway improvements throughout the State of...
  • § 27-64-403 - Definitions.
    As used in this subchapter: (1) "Act" shall mean this Arkansas Interstate Highway Financing Act of 2007 ยง 27-64-401 et seq. (2) "Bonds" shall...
  • § 27-64-404 - Authorization -- Purposes.
    The State Highway Commission is hereby authorized, subject to the approval of the voters in a statewide election, to issue bonds from time to...
  • § 27-64-405 - Election.
    (a) No bonds shall be issued under this act unless the authority of the State Highway Commission to issue such bonds is approved by...
  • § 27-64-406 - Procedure for Issuing Bonds.
    Prior to the issuance of any series of bonds, the State Highway Commission shall adopt a resolution authorizing the issuance of such series of...
  • § 27-64-407 - Terms of Bonds.
    The bonds shall be subject to the following terms and conditions: (1) The bonds shall be issued in series, as set forth herein, in...
  • § 27-64-408 - Sale of Bonds.
    (a) The bonds may be sold in such manner, either at private or public sale, and upon such terms as the State Highway Commission...
  • § 27-64-409 - Employment of Professionals.
    The State Highway Commission is authorized to retain such professionals as it deems necessary to accomplish the issuance and sale of the bonds, including...
  • § 27-64-410 - Sources of Repayment.
    The State of Arkansas Federal Grant Anticipation and Tax Revenue Bonds or GARVEE bonds shall be general obligations of the State of Arkansas secured...
  • § 27-64-411 - Investment of Proceeds.
    Any designated revenues and any proceeds of bonds held pending disbursement on highway improvements, shall be invested by the State Highway Commission to the...
  • § 27-64-412 - Refunding Bonds.
    (a) The State Highway Commission may issue bonds for the purpose of refunding bonds previously issued pursuant to this subchapter; provided, however, that such...
  • § 27-64-413 - Tax Exemption.
    All bonds issued under this subchapter and interest thereon shall be exempt from all taxes of the State of Arkansas, including income, inheritance, and...
  • § 27-64-414 - Powers of State Highway Commission.
    All powers granted to the State Highway Commission pursuant to this subchapter shall be deemed in addition to such powers as already exist pursuant...

Last modified: November 15, 2016