If the Arkansas Economic Development Council shall at any time determine that the moneys in the Revenue Bond Guaranty Reserve Account, sometimes referred to in this subchapter as “account”, created and being maintained pursuant to the provisions of the Industrial Revenue Bond Guaranty Law, § 15-4-601 et seq., are not or will not be sufficient to meet the obligations of the account, the council is authorized to use the necessary amount of any available moneys that it may have which are not needed for or committed to other authorized functions and purposes of the council then or in the foreseeable future. Any such moneys so used may be reimbursed out of the account if and when there are moneys therein available for the purpose.
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 7 - Industrial Development Guaranty Bond Act
§ 15-4-702. Authority to use Arkansas Economic Development Council moneys if account is insufficient
§ 15-4-703. Authority to issue bonds — Arkansas Economic Development Council determinations
§ 15-4-704. Authorizing resolution — Bond issuance, form, and contents
§ 15-4-706. Execution and delivery of bonds
§ 15-4-707. Temporary notes or bonds
§ 15-4-709. Arkansas Economic Development Council obligations — Deposit of revenues and net proceeds
§ 15-4-710. Notice to State Board of Finance — Disposition of bond debt service amount