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11-10-1007. Procedure for issuing Arkansas Unemployment Trust Fund Bonds.
Arkansas Code — all titles (historical 2020) · legal_authorities
11-10-1007. Procedure for issuing Arkansas Unemployment Trust Fund Bonds.
(a) Prior to the issuance of Arkansas Unemployment Trust Fund Bonds, the Arkansas Development Finance Authority shall adopt a resolution authorizing the issuance of the bonds.
(b) Each resolution adopted under this section shall contain the terms, covenants, and conditions as are deemed desirable and consistent with this subchapter, including without limitation those pertaining to:
(1) The establishment and maintenance of funds and accounts;
(2) The deposit and investment of the bond proceeds; and
(3) The rights and obligations of the state, its officers and officials, the Arkansas Development Finance Authority, and the registered owners of the bonds.
(c)(1) The resolutions of the Arkansas Development Finance Authority may provide for the execution and delivery by the Arkansas Development Finance Authority of a trust indenture or trust indentures, with one (1) or more banks or trust companies located within or without the state, containing any of the terms, covenants, and conditions required under subsection (b) of this section and any other terms and conditions deemed necessary by the Arkansas Development Finance Authority.
(2) The trust indenture or trust indentures shall be binding upon the Arkansas Development Finance Authority and the state, and their respective officers and officials.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 11-10-1007
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:11-10-1007
Source file: gov.ar.code.title.11.odt
Pages: Not recorded – Not recorded
Passage SHA-256: c8145cba39bce072a5eec8f1cf8146732486af1c3e930486e7adf36444e026e9
Source location: content.xml paragraph 14147
Stored source content
11-10-1007. Procedure for issuing Arkansas Unemployment Trust Fund Bonds.
(a) Prior to the issuance of Arkansas Unemployment Trust Fund Bonds, the Arkansas Development Finance Authority shall adopt a resolution authorizing the issuance of the bonds.
(b) Each resolution adopted under this section shall contain the terms, covenants, and conditions as are deemed desirable and consistent with this subchapter, including without limitation those pertaining to:
(1) The establishment and maintenance of funds and accounts;
(2) The deposit and investment of the bond proceeds; and
(3) The rights and obligations of the state, its officers and officials, the Arkansas Development Finance Authority, and the registered owners of the bonds.
(c)(1) The resolutions of the Arkansas Development Finance Authority may provide for the execution and delivery by the Arkansas Development Finance Authority of a trust indenture or trust indentures, with one (1) or more banks or trust companies located within or without the state, containing any of the terms, covenants, and conditions required under subsection (b) of this section and any other terms and conditions deemed necessary by the Arkansas Development Finance Authority.
(2) The trust indenture or trust indentures shall be binding upon the Arkansas Development Finance Authority and the state, and their respective officers and officials.
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