SECTION 1. The trustee of the trust estate established by the War Memorial Stadium Commission under the trust agreement entered into pursuant to the authority of Act 3 of the Second Extraordinary Session of 1968, approved May 24, 1968, for the purpose of securing the payment of, and of paying, its outstanding War Memorial Stadium revenue bonds, authorized and issued under the provisions of Act 249 of the Acts of the General Assembly, approved March 18, 1947, referred to in said Act 3 as “2-¼% bonds,” and its outstanding War Memorial Stadium Revenue Refunding Bonds, authorized and issued under the provisions of Act 5 of the Acts of the General Assembly, approved August 31, 1961, referred to in Act 3 as “refunding bonds,” is hereby authorized and directed to convert the assets of such trust estate into cash and to remit the entire balance of funds remaining in said trust estate, to the War Memorial Stadium Commission, to be deposited in the War Memorial Stadium Commission Fund in one or more banks in this State, to be used by said Commission for the construction, reconstruction, repair, improvement, maintenance, and operation of the War Memorial Stadium in the manner provided by law.
SECTION 2. After receiving from the trustee the balance remaining in the trust fund established under the authority of Act 3 of the Second Extraordinary Session of 1968, the War Memorial Stadium Commission shall, from funds available to the Commission, indemnify the trustee of such trust estate against any and all liability with respect to War Memorial Stadium revenue bonds or War Memorial Stadium Revenue Refunding Bonds, including any accrued interest thereon, which may be presented for payment by the trustee subsequent to the transfer of the balance of funds to the War Memorial Stadium Commission, as provided in this Act.
SECTION 3. This Act shall repeal only such laws or parts of laws as are specifically in conflict herewith.
SECTION 4. EMERGENCY. It is hereby found and determined by the General Assembly that:
Therefore, an emergency is hereby declared to exist and this Act, being immediately necessary for the preservation of the public peace, health, and safety, shall be in full force and effect from and after its passage and approval. APPROVED: March 18, 1985.
Structure Arkansas Code
APPENDIX — TITLE 19 BOND ISSUES
APPENDIX — TITLE 19 BOND ISSUES
2. Arkansas State Department of Health Building Act — Acts 1965, No. 469.
3. War Memorial Stadium, Additional Bonds — Acts 1970 (1st Ex. Sess.), No. 9.
5. Arkansas State Education Building Expansion Act — Acts 1977, No. 554.
8. Regulatory Agencies Building — Acts 1977, No. 820.
9. Regulatory Agencies Building — Acts 1979, No. 1102.
10. Oil and Gas Commission Building — Acts 1985, No. 270.
11. War Memorial Stadium, Remission of Trust Funds — Acts 1985, No. 393.
13. Department of Health Building Expansion Act of 1991 — Acts 1991, No. 1162.
14. 1995 New Revenue Division Building Act — Acts 1995, No. 725, as amended by Acts 1997, No. 250.
15. Highway Construction and Improvement Bonds — Acts 1995, No. 1007.
18. The Steel Mill Project — Acts 2013, No. 1084, §§ 1-8.
19. The Steel Mill Project — Acts 2013, No. 1476, §§ 1-8.
20. Amend. 91. [General Obligation Four-Lane Highway Construction and Improvement Bonds]
21. GVAB Facilities Project — Acts 2015 (1st Ex. Sess.), Nos. 9 and 10.