(a) The bonds may be sold:
(1) Either at public or private sale in a manner and upon such terms as the Arkansas Natural Resources Commission determines to be reasonable and expedient for the purposes for which the commission was created; and
(2) At the price the commission determines acceptable, including sale at a discount.
(b) The commission may employ administrative agents, fiscal agents, underwriters, architects, accountants, engineers, and legal counsel and may pay them reasonable compensation from the proceeds of the bonds.
(c) The fees of any trustee or paying agent as well as the costs of publication of notices and of printing of the bonds, official statements, and other documents relating to the sale of the bonds, the fees of any rating agency, and other reasonable costs of issuing and selling the bonds incurred by the commission may be paid from the proceeds of the bonds.
Structure Arkansas Code
Title 15 - Natural Resources and Economic Development
Subtitle 2 - Land and Water Resources Generally
Chapter 20 - General Provisions
§ 15-20-1303. Authority to issue bonds
§ 15-20-1304. Terms and characteristics of bonds
§ 15-20-1305. Purpose of bonds
§ 15-20-1306. Resolutions and trust indentures
§ 15-20-1307. Form of bond — Signatures
§ 15-20-1309. Proceeds of bonds
§ 15-20-1310. Full faith and credit of state pledged to repay bonds
§ 15-20-1311. Payment of debt service on the bonds
§ 15-20-1312. Bonds exempt from state, county, and municipal taxes
§ 15-20-1314. Additional powers of the Arkansas Natural Resources Commission
§ 15-20-1315. No impairment of bond obligations
§ 15-20-1316. No obligations until bonds issued
§ 15-20-1317. No impairment of outstanding bonds
§ 15-20-1319. Effect of election
§ 15-20-1320. No waiver of previous authority to issue bonds