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14-303-504. Sale — Limitations.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-303-504. Sale — Limitations.
(a) Bonds issued under the authority of this chapter shall be sold at public sale or at private sale, upon the written approval of the State Securities Commissioner based on his finding that a private sale will be in the best interest of the authority involved.
(b) Any sale of the bonds will be for a price including, without limitation, sale at a discount, and in a manner the authority involved may determine, but in no event shall the authority involved pay more than seven percent (7%) interest on the amount received, computed with relation to the absolute maturity of the bonds in accordance with the Standard Tables of Bond Values.
(c) Supplemental and dual coupons shall not be permitted, and the bonds shall not be subject to conversion.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-303-504
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:14-303-504
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 0f19856aabbec8f1377c5704d421eb5072ef3c063c4533c063480f1b3bf6d5a1
Source location: content.xml paragraph 55948
Stored source content
14-303-504. Sale — Limitations.
(a) Bonds issued under the authority of this chapter shall be sold at public sale or at private sale, upon the written approval of the State Securities Commissioner based on his finding that a private sale will be in the best interest of the authority involved.
(b) Any sale of the bonds will be for a price including, without limitation, sale at a discount, and in a manner the authority involved may determine, but in no event shall the authority involved pay more than seven percent (7%) interest on the amount received, computed with relation to the absolute maturity of the bonds in accordance with the Standard Tables of Bond Values.
(c) Supplemental and dual coupons shall not be permitted, and the bonds shall not be subject to conversion.
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