Bonds and the interest on the bonds issued under this subchapter are exempt from state, county, and municipal taxes, including income taxes, inheritance taxes, and property taxes. The bonds shall be eligible to secure deposits of all public funds and shall be legal for investment of bank funds, fiduciary funds, insurance company funds, trust funds, and public funds.
Structure Arkansas Code
Subtitle 2 - Elementary and Secondary Education Generally
Subchapter 26 - Arkansas Public School Academic Facilities Financing Act of 2007
§ 6-20-2603. Authority to issue bonds
§ 6-20-2604. Terms and characteristics of bonds
§ 6-20-2606. Resolutions and trust indentures
§ 6-20-2607. Form of bond — Signatures
§ 6-20-2609. Proceeds of bonds
§ 6-20-2610. Full faith and credit of state pledged to repay bonds
§ 6-20-2611. Payment of debt service on the bonds
§ 6-20-2612. Bonds exempt from state, county, and municipal taxes
§ 6-20-2614. Additional powers of the commission
§ 6-20-2615. No impairment of bond obligations
§ 6-20-2616. No obligations until bonds issued
§ 6-20-2618. Effect of election
§ 6-20-2619. No waiver of previous authority to issue bonds
§ 6-20-2621. Cases involving bonds