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14-120-239. Issuance of bonds — Interest coupons.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-120-239. Issuance of bonds — Interest coupons.
(a) Bonds may be sold and negotiated in any market after due advertisement and may be made callable as the board of directors may direct.
(b) The bonds so issued shall be signed by the president of the board and countersigned by the secretary.
(c) The bonds shall bear interest at a rate not exceeding an average of three and one-half percent (3½%) per annum, over the period of the life of the bonds, represented by semiannual coupons.
(d) The place of payment and the amount of the several installments to be paid each year may be fixed by the board.
(e) The interest coupons shall be authenticated by the lithographed signature of the president of the board.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-120-239
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:14-120-239
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: e0483a3c967f9e79768305248d189992fe77ba2c9f228b16321737375b2e7486
Source location: content.xml paragraph 29787
Stored source content
14-120-239. Issuance of bonds — Interest coupons.
(a) Bonds may be sold and negotiated in any market after due advertisement and may be made callable as the board of directors may direct.
(b) The bonds so issued shall be signed by the president of the board and countersigned by the secretary.
(c) The bonds shall bear interest at a rate not exceeding an average of three and one-half percent (3½%) per annum, over the period of the life of the bonds, represented by semiannual coupons.
(d) The place of payment and the amount of the several installments to be paid each year may be fixed by the board.
(e) The interest coupons shall be authenticated by the lithographed signature of the president of the board.
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