Arkansas § 14-143-116 Issuance of revenue bonds - Refunding bonds

Arkansas Statutes

§ 14-143-116 — Issuance of revenue bonds - Refunding bonds

Arkansas § 14-143-116

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This text of Arkansas § 14-143-116 (Issuance of revenue bonds - Refunding 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. § 14-143-116 (2026).

Text

(a)(1) Revenue bonds may be issued under this chapter for the purpose of refunding any obligations issued under this chapter.

(2)The refunding bonds may be combined with bonds issued into a single issue.

(b)(1) When bonds are issued under this section for refunding purposes, the bonds may either be sold or delivered in exchange for the outstanding obligations.

(2)If sold, the proceeds may be either applied to the payment of the obligations refunded or deposited in escrow for the retirement of them.

(c)(1) All refunding bonds issued under this chapter shall, in all respects, be authorized, issued, and secured in the manner provided for other bonds issued under this chapter and shall have all the attributes of these bonds.

(2)The resolution under which these refunding bonds are issued

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(a) (1) Revenue bonds may be issued under this chapter for the purpose of refunding any obligations issued under this chapter. (2) The refunding bonds may be combined with bonds issued into a single issue. (b) (1) When bonds are issued under this section for refunding purposes, the bonds may either be sold or delivered in exchange for the outstanding obligations. (2) If sold, the proceeds may be either applied to the payment of the obligations refunded or deposited in escrow for the retirement of them. (c) (1) All refunding bonds issued under this chapter shall, in all respects, be authorized, issued, and secured in the manner provided for other bonds issued under this chapter and shall have all the attributes of these bonds. (2) The resolution under which these refunding bonds are issued may provide that any of the refunding bonds shall have the same priority of lien on the revenues pledged for their payment as was enjoyed by the obligations refunded by them.