Arkansas Code Title 27, Subtitle 5, Chapter 64, Subchapter 5 - Arkansas Highway Financing Act of 2011
§ 27-64-501 - Title.
This subchapter may be referred to and cited as the "Arkansas Highway Financing Act of 2011".
§ 27-64-502 - Findings.
The General Assembly of the State of Arkansas finds that: (1) There is an immediate need for highway improvements throughout the State of Arkansas...
§ 27-64-503 - Definitions.
As used in this subchapter: (1) "Bonds" means the State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds, also known as "GARVEE...
§ 27-64-504 - Authorization -- Purposes.
(a) (1) Subject to the one-time approval of the voters in a statewide election, the State Highway Commission may issue State of Arkansas Federal...
§ 27-64-505 - Election.
(a) (1) State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds shall not be issued under this subchapter unless the levy of...
§ 27-64-507 - Terms of Bonds.
The State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds shall be subject to the following terms and conditions: (1) (A) The...
§ 27-64-508 - Sale of Bonds.
(a) (1) The State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds may be sold in any manner, either at private or...
§ 27-64-509 - Employment of Professionals.
The State Highway Commission may retain any professionals necessary to accomplish the issuance and sale of the State of Arkansas Federal Highway Grant Anticipation...
§ 27-64-510 - Sources of Repayment.
(a) The State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds shall be general obligations of the State of Arkansas secured and...
§ 27-64-511 - Investment of Proceeds.
(a) Designated revenues and proceeds of the State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds held pending disbursement on highway improvements...
§ 27-64-512 - Refunding Bonds.
(a) The State Highway Commission may issue bonds for the purpose of refunding the State of Arkansas Federal Highway Grant Anticipation and Tax Revenue...
§ 27-64-513 - Tax Exemption.
(a) All State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds issued under this subchapter and interest on the bonds shall be...