Arkansas § 13-5-311 Sale of bonds

Arkansas Statutes

§ 13-5-311 — Sale of bonds

Arkansas § 13-5-311

Title13

This text of Arkansas § 13-5-311 (Sale of bonds) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 13-5-311 (2026).

Text

(a)The bonds shall be sold at public sale on sealed bids after such advertisement as the Secretary of the Department of Parks, Heritage, and Tourism shall determine to be necessary for the obtaining of favorable competitive bidding.

(b)In no event shall any bid be accepted which results in a net interest cost, which is determined by computing the aggregate interest cost from date to maturity at the rates bid and deducting any premium or adding the amount of any discount, in excess of the interest cost computed at par for bonds bearing interest at the rate of eight percent (8%) per annum.

(c)The bonds shall not be subject to conversion.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) The bonds shall be sold at public sale on sealed bids after such advertisement as the Secretary of the Department of Parks, Heritage, and Tourism shall determine to be necessary for the obtaining of favorable competitive bidding. (b) In no event shall any bid be accepted which results in a net interest cost, which is determined by computing the aggregate interest cost from date to maturity at the rates bid and deducting any premium or adding the amount of any discount, in excess of the interest cost computed at par for bonds bearing interest at the rate of eight percent (8%) per annum. (c) The bonds shall not be subject to conversion.