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14-362-202. Contracts authorized.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-362-202. Contracts authorized.
(a) In connection with revenue bonds issued by an authority, the authority may enter into a contract for effective interest rates.
(b) A contract for effective interest rates may be entered into at the time the bonds are issued or at any time while the bonds are outstanding.
(c) A contract for effective interest rates may also be entered into by authorities in connection with an agreement that secures bonds or provides liquidity for the bonds.
(d)(1) A contract for effective interest rates shall be made upon the terms and conditions established by the governing body of the authority.
(2) The contract may include terms permitting the authority to pay to or receive from a person or entity any loss of benefits under the contract upon an early termination or a default under the contract.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-362-202
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:14-362-202
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: dc99c48406ff84a06016466de7986196660c56cb489c24c67eecf278b8e535fd
Source location: content.xml paragraph 59059
Stored source content
14-362-202. Contracts authorized.
(a) In connection with revenue bonds issued by an authority, the authority may enter into a contract for effective interest rates.
(b) A contract for effective interest rates may be entered into at the time the bonds are issued or at any time while the bonds are outstanding.
(c) A contract for effective interest rates may also be entered into by authorities in connection with an agreement that secures bonds or provides liquidity for the bonds.
(d)(1) A contract for effective interest rates shall be made upon the terms and conditions established by the governing body of the authority.
(2) The contract may include terms permitting the authority to pay to or receive from a person or entity any loss of benefits under the contract upon an early termination or a default under the contract.
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