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14-302-112. Revenue bonds made securities.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-302-112. Revenue bonds made securities.
(a) Revenue bonds issued under the authority of this chapter are made securities in which insurance companies, trust companies, banks, investment companies, executors, administrators, trustees, and other fiduciaries may properly and legally invest funds including capital in their control or belonging to them.
(b) The bonds are made securities which may properly and legally be deposited with, and received by, any state or municipal officer or any agency or political subdivision of this state for any purpose for which the deposit of bonds or obligations of this state is now or may hereafter be authorized by law.
(c) Any municipality or county; any board, commission, or other authority established by any such municipality or county; or the boards of trustees, respectively, of any retirement fund or retirement system created by or pursuant to authority conferred by the General Assembly may, in its discretion, invest any of its funds not immediately needed for its purposes in bonds issued under the authority of this chapter. Bonds issued under the authority of this chapter shall be eligible to secure the deposit of public funds.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-302-112
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:14-302-112
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: a6f0c3dfa02e34bcd5c0874c814a8e9ff76383e329416bff341a6e2ca5059d56
Source location: content.xml paragraph 55705
Stored source content
14-302-112. Revenue bonds made securities.
(a) Revenue bonds issued under the authority of this chapter are made securities in which insurance companies, trust companies, banks, investment companies, executors, administrators, trustees, and other fiduciaries may properly and legally invest funds including capital in their control or belonging to them.
(b) The bonds are made securities which may properly and legally be deposited with, and received by, any state or municipal officer or any agency or political subdivision of this state for any purpose for which the deposit of bonds or obligations of this state is now or may hereafter be authorized by law.
(c) Any municipality or county; any board, commission, or other authority established by any such municipality or county; or the boards of trustees, respectively, of any retirement fund or retirement system created by or pursuant to authority conferred by the General Assembly may, in its discretion, invest any of its funds not immediately needed for its purposes in bonds issued under the authority of this chapter. Bonds issued under the authority of this chapter shall be eligible to secure the deposit of public funds.
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