(a) The Arkansas Development Finance Authority shall include necessary provisions in the authorizing resolution or trust indenture to provide for the deposit of the proceeds of the bonds pursuant to the provisions of § 15-5-209.
(b) The authority may create and establish one (1) or more special funds in such depositories and make such investment as it may designate to provide for the construction, secure the bonds, establish reserves, and fund other necessary functions or activities authorized by this subchapter.
Structure Arkansas Code
Chapter 3 - Public Buildings and Other Facilities
Subchapter 14 - State Agencies Facilities Acquisition Act of 1991
§ 22-3-1408. Required statement on bond — Lien and pledge to secure bonds
§ 22-3-1409. Pledge of revenues to secure bonds
§ 22-3-1410. Contract between Arkansas Development Finance Authority and holders and owners of bonds
§ 22-3-1411. Bonds exempt from tax
§ 22-3-1412. Deposit of bond proceeds
§ 22-3-1414. Bondholder rights
§ 22-3-1415. Supervision and management of buildings and facilities