Arkansas Code Title 6, Subtitle 2, Chapter 20, Subchapter 10 - Revolving Loan Program -- Alternative State Financing

• § 6-20-1001 - [Repealed.]
• § 6-20-1002 - Construction.
  (a) This subchapter shall be construed liberally. The enumeration of any object, purpose, power, manner, method, and thing shall not be deemed to exclude...
• § 6-20-1003 - Authority to Engage and Pay for Professional Help.
  The State Board of Education is authorized to engage and pay professional, technical, and other help it shall determine to be necessary or desirable...
• § 6-20-1004 - Authority to Issue Bonds.
  The State Board of Education is authorized to issue bonds from time to time, as described hereinafter, and to use the proceeds thereof, together...
• § 6-20-1005 - Maximum Amount of Bonds.
  The total principal amount of the bonds outstanding at any time shall not exceed fifteen million dollars ($15,000,000).
• § 6-20-1006 - Authorizing Resolution -- Nature and Contents of Bonds.
  (a) The bonds shall be authorized by resolution of the State Board of Education.(b) The bonds may be coupon bonds, payable to bearer, or...
• § 6-20-1007 - Issuance and Designation of Bonds.
  The bonds may be issued at one (1) time or from time to time, and each bond shall bear the designation "Arkansas State Board...
• § 6-20-1008 - Sale and Award of Bonds.
  (a) The bonds shall be sold at public sale on sealed bids.(b) (1) Notice of the sale shall be published one (1) time a...
• § 6-20-1009 - Execution of Bonds -- Signatures.
  (a) The bonds shall be executed by the Chair and the Secretary of the State Board of Education.(b) The coupons attached to the bonds...
• § 6-20-1010 - Deposit of Proceeds.
  (a) The proceeds of the sale of the bonds of any issue or series shall be deposited into the State Board Certificate Revolving Loan...
• § 6-20-1011 - Obligations.
  (a) (1) The bonds shall be special obligations of the State Board of Education only, secured as provided herein. (2) It shall be plainly...
• § 6-20-1012 - Validation of Bonds and Certificates.
  (a) All outstanding revolving loan bonds and revolving loan certificates of indebtedness issued by school districts and acquired by the State Board of Education...
• § 6-20-1013 - Tax Exemptions.
  Bonds issued under the provisions of this subchapter, and the interest thereon, shall be exempt from all state, county, and municipal taxes, and the...
• § 6-20-1014 - Investment of Retirement System Funds.
  The board of trustees of any retirement system now existing or hereafter created by the General Assembly may, in its discretion, invest its funds...
• § 6-20-1015 - Refunding Bonds.
  (a) Bonds may be issued for the purpose of refunding any bonds issued under this subchapter and for the refunding of any state board...
• § 6-20-1016 - Prohibition on Creation of Rights.
  This subchapter shall not create any right, and no right shall arise under it, until the initial issue or series of bonds authorized by...
• § 6-20-1017 - Purchase of Bonds and Certificates by Treasurer of State.
  (a) The Treasurer of State shall, upon written request of the Commissioner of Education, acting on authority of the State Board of Education, purchase...

Last modified: November 15, 2016