Arkansas § 25-20-512 Refunding bonds

Arkansas Statutes

§ 25-20-512 — Refunding bonds

Arkansas § 25-20-512

Title25

This text of Arkansas § 25-20-512 (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. § 25-20-512 (2026).

Text

(a)Bonds may be issued for the purpose of refunding any obligations issued under this subchapter or otherwise. Such refunding bonds may be combined with bonds issued under § 25-20-510 into a single issue.

(b)When bonds are issued under this section for refunding purposes, the bonds may either be sold or delivered in exchange for the outstanding obligations. If sold, the proceeds may be applied to the payment of the obligations refunded or deposited into escrow for the retirement thereof either at maturity or upon any authorized redemption date.

(c)(1) All bonds issued under this section shall 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.

(2)The resolution or indenture under which t

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Bonds may be issued for the purpose of refunding any obligations issued under this subchapter or otherwise. Such refunding bonds may be combined with bonds issued under § 25-20-510 into a single issue. (b) When bonds are issued under this section for refunding purposes, the bonds may either be sold or delivered in exchange for the outstanding obligations. If sold, the proceeds may be applied to the payment of the obligations refunded or deposited into escrow for the retirement thereof either at maturity or upon any authorized redemption date. (c) (1) All bonds issued under this section shall 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. (2) The resolution or indenture under which the refunding bonds are issued may provide that any of the refunding bonds shall have the same priority of lien on the revenues pledged for their payment as was enjoyed by the obligations refunded thereby.