The Arkansas Development Finance Authority, the “authority”, on behalf of the State of Arkansas is hereby authorized to issue bonds and to have bonds outstanding which shall be general obligations of the State of Arkansas, to be known as Arkansas college savings general obligation bonds, the “bonds”, in the total principal amount of not exceeding three hundred million dollars ($300,000,000), for the purposes set forth herein.
Structure Arkansas Code
Subtitle 5 - Postsecondary and Higher Education Generally
Chapter 62 - Property and Finances of State Institutions
Subchapter 7 - Arkansas College Savings Bond Act
§ 6-62-702. Legislative findings and declaration of public necessity
§ 6-62-706. Financial resources or financial aid or assistance
§ 6-62-707. Bonds — Authorization — Amount outstanding
§ 6-62-708. Bonds — Principal amount
§ 6-62-710. Bonds — Financial incentives
§ 6-62-712. Bonds — Terms and conditions generally
§ 6-62-713. Bonds — Terms and conditions — Series bonds
§ 6-62-714. Bonds — Resolution or trust indenture — Selection of projects
§ 6-62-717. Bonds — Sale — Employment of administrative agents, fiscal agents, and legal counsel
§ 6-62-718. Bonds — General obligations — Pledge of revenues
§ 6-62-719. Bonds — Payment — Bond fund — Debt Service Reserve Fund
§ 6-62-720. Bond — Tax exemption — Legal investments
§ 6-62-721. Bonds — Rights and liabilities — Enforcement
§ 6-62-722. Bonds — Rights and liabilities — Commencement
§ 6-62-723. Bonds — Deposit of proceeds
§ 6-62-724. Bonds — Investment and disbursement of funds