The Arkansas Development Finance Authority, on behalf of the State of Arkansas, is authorized, subject to the approval of the voters in a statewide election, to issue bonds to be known as “State of Arkansas Higher Education General Obligation Bonds”, in a total principal amount not to exceed two hundred fifty million dollars ($250,000,000) for the purpose of financing the development of technology projects and facility improvement projects for state institutions of higher education and for the purpose of refunding bonds issued under the Arkansas College Savings Bond Act of 1989, § 6-62-701 et seq.
Structure Arkansas Code
Subtitle 5 - Postsecondary and Higher Education Generally
Chapter 62 - Property and Finances of State Institutions
Subchapter 11 - Higher Education Technology and Facility Improvement
§ 6-62-1102. Legislative findings
§ 6-62-1105. Authorization — Purposes
§ 6-62-1106. Bonds — Debt service limitation
§ 6-62-1107. Projects to be financed
§ 6-62-1109. Procedure for issuing bonds
§ 6-62-1112. Transfer of funds for debt service
§ 6-62-1113. Sources of repayment
§ 6-62-1114. Deposit and investment of proceeds
§ 6-62-1115. Use of bond proceeds
§ 6-62-1118. Employment of professionals
§ 6-62-1120. Rights and liabilities — Enforcement