The total principal amount of bonds to be issued during any fiscal biennium shall not exceed three hundred million dollars ($300,000,000), nor shall the principal amount of bonds outstanding at any time have debt service requirements in excess of twenty-four million dollars ($24,000,000) in any one (1) fiscal year from all sources.
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