Arkansas Code Title 6, Subtitle 5, Chapter 62, Subchapter 11 - Higher Education Technology and Facility Improvement
- § 6-62-1101 - Title.
This subchapter may be referred to and cited as the "Arkansas Higher Education Technology and Facility Improvement Act of 2005".
- § 6-62-1102 - Legislative Findings.
The General Assembly finds that: (1) Expanded availability of higher educational opportunities for families in this state with school-age children has become increasingly necessary...
- § 6-62-1103 - Definitions.
As used in this subchapter: (1) "Athletic facilities" means facilities used primarily for intercollegiate or intramural sports; (2) "Bonds" means the State of Arkansas...
- § 6-62-1104 - Power and Duties.
(a) Before any bonds may be issued during a fiscal biennium, except for refunding purposes, the Arkansas Higher Education Coordinating Board shall submit to...
- § 6-62-1105 - Authorization -- Purposes.
The Arkansas Development Finance Authority, on behalf of the State of Arkansas, is authorized, subject to the approval of the voters in a statewide...
- § 6-62-1106 - Bonds -- Debt Service Limitation.
The total principal amount of bonds outstanding under this subchapter and under the Arkansas College Savings Bond Act of 1989, ยง 6-62-701 et seq.,...
- § 6-62-1107 - Projects to Be Financed.
The proceeds of bonds issued under this subchapter for nonrefunding purposes shall be used to finance the development of technology projects and facility improvement...
- § 6-62-1108 - Election.
(a) (1) No bonds shall be issued under this subchapter, except as otherwise provided in this subchapter, unless the issuance of bonds and the...
- § 6-62-1109 - Procedure for Issuing Bonds.
(a) (1) Prior to the issuance of any series of bonds, the Arkansas Development Finance Authority shall adopt a resolution or trust indenture, which...
- § 6-62-1110 - Terms of Bonds.
The State of Arkansas Higher Education General Obligation Bonds shall be subject to the following terms and conditions: (1) Whether or not the interest...
- § 6-62-1111 - Sale of Bonds.
(a) The State of Arkansas Higher Education General Obligation Bonds may be sold in the manner, either at private or public sale, and upon...
- § 6-62-1112 - Transfer of Funds for Debt Service.
(a) (1) On or before the commencement of each fiscal year, the Chief Fiscal Officer of the State shall: (A) Determine the estimated amount...
- § 6-62-1113 - Sources of Repayment.
(a) The State of Arkansas Higher Education General Obligation Bonds shall be direct general obligations of the State of Arkansas for the payment of...
- § 6-62-1114 - Deposit and Investment of Proceeds.
(a) The proceeds from the sale of the State of Arkansas Higher Education General Obligation Bonds shall be deposited by the recipient, as received,...
- § 6-62-1115 - Use of Bond Proceeds.
(a) The proceeds of the State of Arkansas Higher Education General Obligation Bonds issued under this subchapter for nonrefunding purposes, after the funding of...
- § 6-62-1116 - Refunding Bonds.
(a) (1) The Arkansas Development Finance Authority may issue bonds for the purpose of refunding bonds previously issued pursuant to this subchapter or the...
- § 6-62-1117 - Tax Exemption.
All State of Arkansas Higher Education General Obligation Bonds issued under this subchapter and interest on the bond proceeds shall be exempt from all...
- § 6-62-1118 - Employment of Professionals.
The Arkansas Development Finance Authority is authorized to retain those professionals as it deems necessary to accomplish the issuance and sale of the State...
- § 6-62-1119 - Construction.
(a) This subchapter shall be liberally construed to accomplish its purposes. This subchapter shall constitute the sole authority necessary to accomplish the purposes of...
- § 6-62-1120 - Rights and Liabilities -- Enforcement.
(a) This subchapter shall constitute a contract between the State of Arkansas and the registered owners of all State of Arkansas Higher Education General...
- § 6-62-1121 - Rights and Liabilities -- Commencement.
(a) This subchapter shall not create any right of any character and no right of any character shall arise under or pursuant to this...
- § 6-62-1122 - Judicial Review -- Priority.
All cases involving the validity of this subchapter or any portion of this subchapter or in any way arising under this subchapter or involving...
Last modified: November 15, 2016