Bonds issued under this subchapter may be sold with the privilege of conversion to an issue bearing a lower rate or rates of interest, upon such terms and subject to such conditions as the governing body of the city shall determine. However, under no circumstances shall the city receive less or pay more than it would receive and pay if the bonds were not converted, and any conversion shall be subject to the approval of the governing body of the city.
Structure Arkansas Code
Subtitle 10 - Economic Development And Tourism Generally
Chapter 163 - Industrial Commissions
Subchapter 2 - Cities of the First Class in Counties of 105,000 or More
§ 14-163-202. Legislative intent
§ 14-163-205. Appointment of commissioners
§ 14-163-206. Use of tax and bond proceeds — Purposes and powers generally
§ 14-163-208. Bonds — Issuance generally
§ 14-163-209. Bonds — Amount — Pledge and application of revenues
§ 14-163-210. Bonds — Terms and conditions
§ 14-163-211. Bonds — Trust indenture
§ 14-163-213. Bonds, coupons — Execution — Seal
§ 14-163-214. Bonds — Conversion