§ 15-4-3011 — Sale and price of bonds

(a) The bonds may be sold in the manner, either at public or private sale, and upon terms as determined by the Arkansas Development Finance Authority to be reasonable and expedient for effectuating the purposes of this subchapter. (b) The bonds may be sold at the price the authority determines acceptable, including sale at a discount. (c) The authority may employ administrative agents, fiscal agents, underwriters, architects, accountants, engineers, and legal counsel and may pay them reasonable compensation from the proceeds of the bonds. (d) The proceeds from the sale of the bonds may be used to pay: (1) The fees of any trustee or paying agent; (2) The costs of publication of notices; (3) The costs of publication of the printing of the bonds; (4) The costs of publication of official statements and other documents relating to the sale of the bonds; (5) The fees of any rating agency; and (6) Other reasonable costs incurred by the authority for issuing and selling the bonds.

Legislative History

Acts 2003, No. 1751, § 11.