Arkansas Code
Subchapter 7 - Arkansas College Savings Bond Act
§ 6-62-726. Rules

(a) The Division of Higher Education or other agency to which the appropriation for college savings bonds is provided shall adopt rules for the allocation of the funds reappropriated for the development of projects at state institutions of higher education and the payment of project costs and expenses of the issuance of the bonds under this subchapter in order to ensure that funds are allocated and expended in a manner consistent with the applicable provisions of the Internal Revenue Code, 26 U.S.C. § 1 et seq.
(b) The funds reappropriated for the development of projects at state institutions of higher education and the payment of project costs and expenses of the issuance of the bonds under this subchapter shall be allocated and expended pursuant to the provisions of this subchapter and other laws of this state.
(c) The expenditure and allocation of funds shall be exempt from any other provisions of state law that conflict with any provision of the rules which are required to ensure the compliance of the program with the applicable provisions of the Internal Revenue Code.

Structure Arkansas Code

Arkansas Code

Title 6 - Education

Subtitle 5 - Postsecondary and Higher Education Generally

Chapter 62 - Property and Finances of State Institutions

Subchapter 7 - Arkansas College Savings Bond Act

§ 6-62-701. Title

§ 6-62-702. Legislative findings and declaration of public necessity

§ 6-62-703. Definitions

§ 6-62-704. Construction

§ 6-62-705. Power and duties of Arkansas Development Finance Authority and Arkansas Higher Education Coordinating Board

§ 6-62-706. Financial resources or financial aid or assistance

§ 6-62-707. Bonds — Authorization — Amount outstanding

§ 6-62-708. Bonds — Principal amount

§ 6-62-709. Bonds — Issuance — Duties of Arkansas Higher Education Coordinating Board and Arkansas Development Finance Authority

§ 6-62-710. Bonds — Financial incentives

§ 6-62-711. Bonds — Purposes

§ 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

§ 6-62-715. Refunding bonds

§ 6-62-716. Bonds — Execution

§ 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

§ 6-62-725. Judicial review — Priority

§ 6-62-726. Rules