Arkansas § 19-5-976 College Savings Debt Service Reserve Fund

Arkansas Statutes

§ 19-5-976 — College Savings Debt Service Reserve Fund

Arkansas § 19-5-976

Title19

This text of Arkansas § 19-5-976 (College Savings Debt Service Reserve Fund) 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. § 19-5-976 (2026).

Text

(a)There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "College Savings Debt Service Reserve Fund".

(b)The fund shall consist of proceeds from the sale of bonds as issued by the Arkansas Development Finance Authority and revenues derived from any project financed under the Arkansas College Savings Bond Act of 1989, § 6-62-701 et seq., in amounts or portions as set forth in the resolution or trust indenture authorizing or securing such bonds; general revenues; and any other funds made available by the General Assembly; there to be used only to ensure prompt payment of debt service on bonds issued under the Arkansas College Savings Bond Act of 1989, § 6-62-701 et seq., either at maturity or u

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(a) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "College Savings Debt Service Reserve Fund". (b) The fund shall consist of proceeds from the sale of bonds as issued by the Arkansas Development Finance Authority and revenues derived from any project financed under the Arkansas College Savings Bond Act of 1989, § 6-62-701 et seq., in amounts or portions as set forth in the resolution or trust indenture authorizing or securing such bonds; general revenues; and any other funds made available by the General Assembly; there to be used only to ensure prompt payment of debt service on bonds issued under the Arkansas College Savings Bond Act of 1989, § 6-62-701 et seq., either at maturity or upon redemption prior to maturity, as administered by the Treasurer of State.