§ 19-9-201 — Authority of State Board of Finance

The State Board of Finance is authorized to: (1) Take such action as may be provided by law for the issuance of refunding bonds for outstanding obligations to the State of Arkansas; (2) Issue replacement bonds, either typewritten, printed, or lithographed, for lost, mislaid, destroyed, or stolen bonds of the State of Arkansas in the manner and within the limitations provided by § 19-9-102 ; (3) Take such action as may appear necessary or desirable to collect any funds which may have been in the hands of paying agents for a period of three (3) years or longer and to invest any funds so collected in the manner provided by §§ 19-9-103 - 19-9-105 ; and (4) Take such other action, not inconsistent with law, as may appear necessary or desirable to: (A) Retire the direct bonded debt of the State of Arkansas in an orderly manner; (B) Safeguard state funds pledged for the payment of such obligations; and (C) Maintain and improve the credit standing of the State of Arkansas.

Legislative History

Acts 1955, No. 338, § 11; 1965 (1st Ex. Sess.), No. 12, § 13; A.S.A. 1947, § 13-411.