Browse Arkansas Code titles and sections
14-78-104. Refunding obligations.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-78-104. Refunding obligations.
(a) Obligations may be issued under this chapter to refund any outstanding short-term financing obligations issued pursuant to Arkansas Constitution, Amendment 78, whether or not issued under this chapter.
(b)(1) Refunding obligations may be either sold for cash or delivered in exchange for the outstanding obligations being refunded.
(2) If sold for cash, the proceeds may be applied to the payment of the obligations refunded or deposited in irrevocable trust for the retirement thereof, either at maturity or on an authorized redemption date.
(c) Refunding obligations shall in all respects be authorized, issued, and secured in the manner provided in this section.
(d) Refunding obligations shall mature not later than five (5) years beyond the issue date for the obligations being refunded.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-78-104
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.
Issuing source page ↗
Authority boundary: historical statutory source snapshot not current law.
Open the recorded source website ↗
Record provenance
Stable record: arkansas_code:legal_authorities:14-78-104
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: b53286cecb3e3150973e3615c332bdaa1efca06f47cf50c20954a08f4f031c6b
Source location: content.xml paragraph 20557
Stored source content
14-78-104. Refunding obligations.
(a) Obligations may be issued under this chapter to refund any outstanding short-term financing obligations issued pursuant to Arkansas Constitution, Amendment 78, whether or not issued under this chapter.
(b)(1) Refunding obligations may be either sold for cash or delivered in exchange for the outstanding obligations being refunded.
(2) If sold for cash, the proceeds may be applied to the payment of the obligations refunded or deposited in irrevocable trust for the retirement thereof, either at maturity or on an authorized redemption date.
(c) Refunding obligations shall in all respects be authorized, issued, and secured in the manner provided in this section.
(d) Refunding obligations shall mature not later than five (5) years beyond the issue date for the obligations being refunded.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
No explicit source connection was found. This does not mean there are no relevant authorities.