Arkansas § 26-75-617 Refunding bonds

Arkansas Statutes

§ 26-75-617 — Refunding bonds

Arkansas § 26-75-617

Title26

This text of Arkansas § 26-75-617 (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. § 26-75-617 (2026).

Text

(a)Bonds may be issued under this subchapter to refund any outstanding bonds issued pursuant to this subchapter or to refund any outstanding bonds issued pursuant to any other law for the purpose of financing convention center projects.

(b)(1) The refunding bonds may be either sold for cash or delivered in exchange for the outstanding obligations.

(2)If sold for cash, the proceeds may be either applied to the payment of the obligations refunded or deposited into irrevocable trust for the retirement thereof either at maturity or on an authorized redemption date.

(c)Refunding bonds shall in all respects be authorized, issued, and secured in the manner provided in this subchapter.

(d)The ordinance under which the refunding bonds are issued may provide that any refunding bonds shall have

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(a) Bonds may be issued under this subchapter to refund any outstanding bonds issued pursuant to this subchapter or to refund any outstanding bonds issued pursuant to any other law for the purpose of financing convention center projects. (b) (1) The refunding bonds may be either sold for cash or delivered in exchange for the outstanding obligations. (2) If sold for cash, the proceeds may be either applied to the payment of the obligations refunded or deposited into irrevocable trust for the retirement thereof either at maturity or on an authorized redemption date. (c) Refunding bonds shall in all respects be authorized, issued, and secured in the manner provided in this subchapter. (d) The ordinance under which the refunding bonds are issued may provide that any refunding bonds shall have the same priority of lien on all project revenues as originally pledged for payment of the obligation refunded thereby.