(a) The bonds shall be sold at public sale on sealed bids.
(b) Notice of the sale shall be published one (1) time a week for three (3) consecutive weeks in a newspaper published in the City of Little Rock and having a general circulation throughout the State of Arkansas, with the first publication to be at least twenty (20) days prior to the date of sale.
(c) The award, if made, shall be to the bidder whose bid results in the lowest net interest cost, determined by computing the aggregate interest cost at the rate bid and deducting any premium or adding the amount of any discount.
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