The Arkansas Development Finance Authority shall promulgate standards and rules for the evaluation of the financial condition and business history of developers and may require the attachment to each application for guaranty under this subchapter of a financial report and evaluation by an independent certified public accounting firm, in addition to such examination and evaluation as the authority may make, in determining whether the developer meets prescribed minimum standards and qualifications before entering into any guaranty under this subchapter.
Structure Arkansas Code
Title 15 - Natural Resources and Economic Development
Subtitle 1 - Development Of Economic And Natural Resources Generally
Chapter 5 - Arkansas Development Finance Authority
Subchapter 4 - Arkansas Development Finance Authority Bond Guaranty Act of 1985
§ 15-5-402. Legislative findings and declaration of public necessity
§ 15-5-404. Power of authority to grant or deny guaranty bonds
§ 15-5-405. When bonds may be guaranteed
§ 15-5-406. Standards and rules for evaluations
§ 15-5-407. Bond Guaranty Reserve Account — Investment of funds
§ 15-5-408. Evidence to support guaranty — Premium payment
§ 15-5-409. Review of applications
§ 15-5-410. No private right against authority under §§ 15-5-408 and 15-5-409
§ 15-5-412. Guaranty agreement provision
§ 15-5-414. Authority to use money committed to other projects
§ 15-5-415. Issuance of bonds to provide additional moneys
§ 15-5-416. Authorizing resolution
§ 15-5-418. Execution of bonds and coupons — Temporary notes or bonds
§ 15-5-419. Sale of bonds — Statement on face of bond
§ 15-5-420. Obligation of authority — Disposition of proceeds
§ 15-5-421. Bond debt service amount
§ 15-5-422. Moneys for Correction Facilities Construction Fund