The sponsor shall be subject to specific penalties set forth in the Amendment 82 agreement and enacted in related legislation under § 15-4-3203(j) if the sponsor:
(1) Does not satisfy the minimum job creation and investment requirements specified in the Amendment 82 agreement within the time period specified in the Amendment 82 agreement;
(2) Does not maintain the job creation requirements specified in the Amendment 82 agreement for the period of time specified in the Amendment 82 agreement; or
(3) Fails to satisfy other terms of the Amendment 82 agreement.
Structure Arkansas Code
Title 15 - Natural Resources and Economic Development
Subtitle 1 - Development Of Economic And Natural Resources Generally
Chapter 4 - Development Of Business And Industry Generally
Subchapter 32 - Arkansas Amendment 82 Implementation Act
§ 15-4-3203. Amendment 82 project qualification
§ 15-4-3204. Amendment 82 agreement
§ 15-4-3206. Compliance time period — Audit requirements
§ 15-4-3208. Amendment 82 bonds
§ 15-4-3210. Authorization of bonds
§ 15-4-3211. Form and delivery of bonds
§ 15-4-3212. Sale and price of bonds
§ 15-4-3213. Deposit of bond proceeds
§ 15-4-3214. General obligation bonds
§ 15-4-3215. Annual determination of moneys required for bond repayment
§ 15-4-3216. Exemption from taxes — Eligible to secure deposits — Legal for investment
§ 15-4-3218. Contractual obligations of state — Enforcement
§ 15-4-3219. No rights until first series of bonds sold and delivered — Outstanding bonds unaffected
§ 15-4-3220. Legal actions heard as preferred cause — Appeals
§ 15-4-3221. Monitoring and reporting