Arkansas § 15-5-1804 Issuance of bonds

Arkansas Statutes

§ 15-5-1804 — Issuance of bonds

Arkansas § 15-5-1804

Title15

This text of Arkansas § 15-5-1804 (Issuance 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. § 15-5-1804 (2026).

Text

(a)Upon the request of a state entity, the Arkansas Development Finance Authority may issue bonds for the purpose of:

(1)Providing financing or refinancing for an energy efficiency project;

(2)Refunding bonds issued under this subchapter; and (3) Paying the costs of issuing the bonds.

(b)(1) The bonds may be:

(A)Secured by a pledge of the savings derived from the energy efficiency project; and (B) Paid from general revenues, special revenues, revenues derived from taxes, or any other revenues available to the state entity.

(2)A state entity may pledge or assign any guaranteed energy savings contract to secure the bonds.

(3)A state entity may enter into a long-term loan agreement with the authority to secure the bonds.

(4)Notwithstanding any law to the contrary, a state entity may u

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(a) Upon the request of a state entity, the Arkansas Development Finance Authority may issue bonds for the purpose of: (1) Providing financing or refinancing for an energy efficiency project; (2) Refunding bonds issued under this subchapter; and (3) Paying the costs of issuing the bonds. (b) (1) The bonds may be: (A) Secured by a pledge of the savings derived from the energy efficiency project; and (B) Paid from general revenues, special revenues, revenues derived from taxes, or any other revenues available to the state entity. (2) A state entity may pledge or assign any guaranteed energy savings contract to secure the bonds. (3) A state entity may enter into a long-term loan agreement with the authority to secure the bonds. (4) Notwithstanding any law to the contrary, a state entity may use maintenance and operations appropriations to pay for an energy efficiency project. (c) (1) (A) Bonds issued under this subchapter shall: (i) Be authorized by a resolution of the state entity and the Board of Directors of the Arkansas Development Finance Authority; and (ii) Have the form and characteristics and bear the designations provided in the resolution and permitted under this chapter, including without limitation §§ 15-5-301 - 15-5-317 . (B) The resolution under subdivision (c)(1)(A)(i) of this section may include the provisions and covenants that the state entity or the board determines to be necessary. (2) The board may: (A) Require additional proceedings; and (B) Approve and have executed any other proceedings, agreements, trust agreements, or other instruments necessary or convenient to the issuance of the bonds.