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15-5-410. No private right against authority under §§ 15-5-408 and 15-5-409.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-5-410. No private right against authority under §§ 15-5-408 and 15-5-409.
No provision of §§ 15-5-408 and 15-5-409 shall be interpreted to create any private right against any member of the Arkansas Development Finance Authority or any member of the staff thereof.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-5-410
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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Stable record: arkansas_code:legal_authorities:15-5-410
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 9313e7c9512bcc37bcb5da328a7bec3a59ee88eb1c806e9a2d17ef182e46b338
Source location: content.xml paragraph 8070
Stored source content
15-5-410. No private right against authority under §§ 15-5-408 and 15-5-409.
No provision of §§ 15-5-408 and 15-5-409 shall be interpreted to create any private right against any member of the Arkansas Development Finance Authority or any member of the staff thereof.
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Arkansas Code — all titles (historical 2020) · legal_authorities
15-5-408. Evidence to support guaranty — Premium payment.
(a) Each borrower requesting a guaranty under this subchapter shall submit to the Arkansas Development Finance Authority supporting documents, instruments, contractor's costs or estimated cost of improvements, land costs, and other evidence showing conformity with the Arkansas Development Finance Authority Act, §§ 15-5-101 — 15-5-106, 15-5-201 — 15-5-211, 15-5-213, and 15-5-301 — 15-5-316, or other law pursuant to which qualified bonds are to be or have been issued.
(b)(1) Each borrower receiving a guaranty under this subchapter shall pay a premium payment or payments to the Bond Guaranty Reserve Account as provided in this section.
(2) The amount and terms of the premium payment shall be determined by the authority taking into consideration the relative degree of risk involved in guaranteeing the project and other appropriate considerations.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-5-408
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. The source passage cites 15-5-408. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-5-409. Review of applications.
(a) All applications filed with the Arkansas Development Finance Authority under the provisions of this subchapter shall first be reviewed by the appropriate designated staff officials of the authority or by a committee consisting of members of the authority for preliminary review and recommendation prior to being submitted for consideration by the authority.
(b) All applications submitted to the authority and all supporting documents, instruments, proposed contracts, estimated costs, or other evidence submitted with the applications shall be confidential and shall not be open to public review, except as provided in this subchapter, and all staff meetings or meetings of the review committee of members of the authority established for the purpose of giving preliminary review of the applications shall be confidential and shall not be open to the public.
(c) Upon conclusion of the preliminary review of each request for a guaranty under this subchapter, if the request for guaranty is submitted to the authority with a recommendation that it be approved, the application and all supporting documents, including the findings and the recommendations resulting from the staff or review committee, shall be an open public record available for inspection during all regular business hours.
(d) In the event that an application from a borrower requesting a guaranty under this subchapter is not recommended for approval by the authority under this subchapter, that application and all supporting documents, including all findings and recommendations in regard thereto by the staff or review committee, shall continue to be confidential and not open to public inspection.
(e) The borrower shall be notified in writing of any staff or review committee de
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-5-409
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. The source passage cites 15-5-409. This identifies an authority to review, not proof of applicability.