Arkansas § 20-48-508 Issuance of refunding bonds

Arkansas Statutes

§ 20-48-508 — Issuance of refunding bonds

Arkansas § 20-48-508

Title20

This text of Arkansas § 20-48-508 (Issuance of refunding 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. § 20-48-508 (2026).

Text

(a)Bonds may be issued pursuant to this subchapter for the purpose of refunding any issue of bonds theretofore issued under the provisions of this subchapter.

(b)When refunding bonds are issued, the refunding bonds may either be sold or delivered in exchange for the bonds being refunded. If sold, the proceeds may be either applied to the payment of the bonds being refunded or deposited in escrow for the retirement thereof.

(c)All refunding bonds issued under this section shall in all respects be authorized, issued, and secured in the manner provided for other bonds issued under this subchapter and shall have all the attributes of such bonds.

(d)The resolution under which the refunding bonds are issued may provide that any of the refunding bonds shall have the same priority of lien on t

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(a) Bonds may be issued pursuant to this subchapter for the purpose of refunding any issue of bonds theretofore issued under the provisions of this subchapter. (b) When refunding bonds are issued, the refunding bonds may either be sold or delivered in exchange for the bonds being refunded. If sold, the proceeds may be either applied to the payment of the bonds being refunded or deposited in escrow for the retirement thereof. (c) All refunding bonds issued under this section shall in all respects be authorized, issued, and secured in the manner provided for other bonds issued under this subchapter and shall have all the attributes of such bonds. (d) The resolution under which the refunding bonds are issued may provide that any of the refunding bonds shall have the same priority of lien on the charges pledged for their payment as was enjoyed by the bonds refunded thereby.