(a) The bonds may be sold with the privilege of conversion into an issue bearing other rate or rates of interest, upon the terms that the board receive no less and pay no more than it would receive and pay if the bonds were not converted.
(b) The conversion shall be subject to the approval of the board.
Structure Arkansas Code
Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities
Chapter 184 - Central Business Improvement Districts
Subchapter 2 - Financing of Improvements
§ 14-184-201. Legislative determinations
§ 14-184-204. Provisions supplemental
§ 14-184-205. Revenue bonds authorized
§ 14-184-206. Loans to property owners
§ 14-184-207. Providing of funds
§ 14-184-208. Bonds — Authorizing resolution
§ 14-184-209. Bonds — Terms and conditions
§ 14-184-210. Bonds — Trust indenture
§ 14-184-212. Bonds, coupons — Execution — Seal
§ 14-184-213. Bonds — Conversion
§ 14-184-215. Obligation on bonds