(a) All bonds issued under this subchapter and interest thereon shall be exempt from all taxes of the State of Arkansas, including income, inheritance, and property taxes.
(b) The bonds shall be eligible to secure deposits of all public funds and shall be legal for investment of municipal, county, bank, fiduciary, insurance company, and trust funds.
Structure Arkansas Code
Subtitle 5 - Highways, Roads, And Streets
Chapter 64 - General Provisions
Subchapter 2 - Arkansas Highway Financing Act of 1999
§ 27-64-202. Legislative findings
§ 27-64-204. Authorization — Purposes
§ 27-64-205. Projects to be financed
§ 27-64-207. Procedure for issuing bonds
§ 27-64-209. Sale of bonds — Employment of professionals
§ 27-64-210. Investment of proceeds
§ 27-64-211. Sources of repayment