Arkansas Statutes
§ 15-5-1204 — Issuance of revenue bonds by the authority
Arkansas·Title 15
(a)(1) Upon the request of the Director of the Division of Environmental Quality and based upon an estimate by the Department of Finance and Administration of the pledged fees to be collected, the Arkansas Development Finance Authority may issue bonds for the purpose of:
(A)Providing money for the Petroleum Storage Tank Trust Fund; and (B) Paying the cost of issuing the bonds and establishing the Petroleum Storage Tank Trust Fund Revenue Bonds Reserve Fund, if necessary.
(2)The money in the Petroleum Storage Tank Trust Fund shall be used as provided in the Petroleum Storage Tank Trust Fund Act, § 8-7-901 et seq.
(b)(1) The bonds are special obligations payable only from:
(A)The pledged fees collected by the Secretary of the Department of Finance and Administration pursuant to § 8-7-90
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Legislative History
Amended by Act 2019, No. 910,§ 3046, eff. 7/1/2019. Acts 1995, No. 1054, § 1; 1999, No. 1164, § 131.
Nearby Sections
15
§ 15-1-101
Economic Advisor§ 15-10-201
Title§ 15-10-202
Declaration of policy§ 15-10-203
Arkansas Energy Office - Creation§ 15-10-204
Arkansas Energy Office - Director§ 15-10-301
Declaration of policy§ 15-10-302
Definitions§ 15-10-303
License or permit requirement§ 15-10-304
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