Browse Arkansas Code titles and sections
15-20-1304. Terms and characteristics of bonds.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-20-1304. Terms and characteristics of bonds.
(a) The bonds shall be issued in series in amounts sufficient to finance or refinance all or any part of project costs with the respective series to be designated in alphabetical order or by the year in which issued, or both.
(b)(1) Each series of bonds shall have the date as the Arkansas Natural Resources Commission determines and shall mature or be subject to mandatory sinking fund redemption as determined by the commission over a period ending not later than thirty-five (35) years after the date of the bonds of each series.
(2) Pending the issuance of bonds under this subchapter, the commission may issue temporary notes maturing not more than five (5) years from the date of issuance to be exchanged for or paid from the proceeds of bonds when the bonds are issued.
(c)(1) Each series of bonds shall bear interest whether or not subject to federal income taxation at the rate or rates accepted by the commission.
(2) Interest shall be payable at such times as the commission determines.
(d) The commission shall determine:
(1) The form of the bonds;
(2) The denomination of the bonds;
(3) Whether the bonds may be exchanged for bonds of another form or denomination bearing the same rate of interest and date of maturity;
(4) Whether the bonds may be payable within or without the state;
(5) Whether the bonds may be subject to redemption prior to maturity, including:
(A) The manner of redemption; and
(B) The redemption prices; and
(6) Any other terms and conditions of the bonds.
(e) The bonds shall have all the qualities of negotiable instruments or securities under the laws of the state, subject to the provision for registration of ownership.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-20-1304
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:15-20-1304
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: d8c1915768a0d70424592aeab5261e194ea245940f65b6b7f7eac547392e7558
Source location: content.xml paragraph 13806
Stored source content
15-20-1304. Terms and characteristics of bonds.
(a) The bonds shall be issued in series in amounts sufficient to finance or refinance all or any part of project costs with the respective series to be designated in alphabetical order or by the year in which issued, or both.
(b)(1) Each series of bonds shall have the date as the Arkansas Natural Resources Commission determines and shall mature or be subject to mandatory sinking fund redemption as determined by the commission over a period ending not later than thirty-five (35) years after the date of the bonds of each series.
(2) Pending the issuance of bonds under this subchapter, the commission may issue temporary notes maturing not more than five (5) years from the date of issuance to be exchanged for or paid from the proceeds of bonds when the bonds are issued.
(c)(1) Each series of bonds shall bear interest whether or not subject to federal income taxation at the rate or rates accepted by the commission.
(2) Interest shall be payable at such times as the commission determines.
(d) The commission shall determine:
(1) The form of the bonds;
(2) The denomination of the bonds;
(3) Whether the bonds may be exchanged for bonds of another form or denomination bearing the same rate of interest and date of maturity;
(4) Whether the bonds may be payable within or without the state;
(5) Whether the bonds may be subject to redemption prior to maturity, including:
(A) The manner of redemption; and
(B) The redemption prices; and
(6) Any other terms and conditions of the bonds.
(e) The bonds shall have all the qualities of negotiable instruments or securities under the laws of the state, subject to the provision for registration of ownership.
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.