Arkansas § 22-3-1207 Certificates of indebtedness - Issuance and purchase authorized

Arkansas Statutes

§ 22-3-1207 — Certificates of indebtedness - Issuance and purchase authorized

Arkansas § 22-3-1207

Title22

This text of Arkansas § 22-3-1207 (Certificates of indebtedness - Issuance and purchase authorized) 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. § 22-3-1207 (2026).

Text

(a)(1) For the purpose of providing funds for the construction of buildings as authorized in this subchapter, the Director of the Building Authority Division, with the approval of the Governor and the Secretary of the Department of Transformation and Shared Services, is authorized and empowered to issue, and the State Board of Finance is authorized and empowered to purchase, Building Authority Division certificates of indebtedness of a total principal amount not to exceed twenty-five million dollars ($25,000,000).

(2)However, this authority shall be continuing, solely for the purposes as authorized in § 22-3-1205(a)(1) and (2) , so long as the total outstanding principal amount of the Building Authority Division certificates of indebtedness shall not exceed, at any one time, more than tw

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(a) (1) For the purpose of providing funds for the construction of buildings as authorized in this subchapter, the Director of the Building Authority Division, with the approval of the Governor and the Secretary of the Department of Transformation and Shared Services, is authorized and empowered to issue, and the State Board of Finance is authorized and empowered to purchase, Building Authority Division certificates of indebtedness of a total principal amount not to exceed twenty-five million dollars ($25,000,000). (2) However, this authority shall be continuing, solely for the purposes as authorized in § 22-3-1205(a)(1) and (2) , so long as the total outstanding principal amount of the Building Authority Division certificates of indebtedness shall not exceed, at any one time, more than twenty-five million dollars ($25,000,000). (b) The sale and purchase price of the certificates shall be at their par value.

Legislative History

Amended by Act 2019, No. 910,§ 6198, eff. 7/1/2019. Amended by Act 2016EX3, No. 3,§ 66, eff. 5/23/2016. Amended by Act 2016EX3, No. 2,§ 66, eff. 5/23/2016. Acts 1983, No. 458, § 4; 1983 (Ex. Sess.), No. 112, § 3; A.S.A. 1947, § 13-2604; Acts 1987, No. 652, § 2.