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22-3-1207. Certificates of indebtedness — Issuance and purchase authorized.
Arkansas Code — all titles (historical 2020) · legal_authorities
22-3-1207. Certificates of indebtedness — Issuance and purchase authorized.
(a)(1) For the purpose of providing funds for the construction of buildings as authorized in this subchapter, the Director of the Building Authority Division, with the approval of the Governor and the Secretary of the Department of Transformation and Shared Services, is authorized and empowered to issue, and the State Board of Finance is authorized and empowered to purchase, division certificates of indebtedness of a total principal amount not to exceed twenty-five million dollars ($25,000,000).
(2) However, this authority shall be continuing, solely for the purposes as authorized in § 22-3-1205(a)(1) and (2), so long as the total outstanding principal amount of the Building Authority Division certificates of indebtedness shall not exceed, at any one time, more than twenty-five million dollars ($25,000,000).
(b) The sale and purchase price of the certificates shall be at their par value.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 22-3-1207
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:22-3-1207
Source file: gov.ar.code.title.22.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 5b82f72884d88f5372077ba5a31e0d2721fe2228d4d841c2de4fbf07c9f1482b
Source location: content.xml paragraph 2232
Stored source content
22-3-1207. Certificates of indebtedness — Issuance and purchase authorized.
(a)(1) For the purpose of providing funds for the construction of buildings as authorized in this subchapter, the Director of the Building Authority Division, with the approval of the Governor and the Secretary of the Department of Transformation and Shared Services, is authorized and empowered to issue, and the State Board of Finance is authorized and empowered to purchase, division certificates of indebtedness of a total principal amount not to exceed twenty-five million dollars ($25,000,000).
(2) However, this authority shall be continuing, solely for the purposes as authorized in § 22-3-1205(a)(1) and (2), so long as the total outstanding principal amount of the Building Authority Division certificates of indebtedness shall not exceed, at any one time, more than twenty-five million dollars ($25,000,000).
(b) The sale and purchase price of the certificates shall be at their par value.
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Arkansas Code — all titles (historical 2020) · legal_authorities
22-3-1205. Powers of Building Authority Division generally.
(a) In addition to the powers, purposes, and authorities set forth elsewhere in this subchapter or in other laws, the Building Authority Division is authorized and empowered to:
(1) Acquire, construct, repair, renovate, alter, maintain, and equip existing or new buildings and capital improvements and the sites upon which they are situated for use by the Division of Correction for the housing, treatment, care, and rehabilitation of inmates committed to or in the custody of the Division of Correction;
(2) Acquire, construct, repair, renovate, alter, maintain, and equip existing or new buildings and capital improvements and the sites upon which they are situated for use by the Division of Correction for the prison agriculture and industry programs;
(3) Acquire, construct, repair, renovate, alter, maintain, and equip existing or new buildings and capital improvements and the sites upon which they are situated for use by state-supported institutions of higher education;
(4) Redeem or pay and discharge, or provide therefor, the outstanding 1977 Bonds and 1979 Bonds;
(5) Obtain the necessary funds for accomplishing its powers, purposes, and authorities from any source, including, without limitation, the proceeds of certificates of indebtedness issued under this subchapter; funds appropriated and made available under Chapter 2 of this title; and funds, if any, appropriated for the buildings defined in this subchapter;
(6) Purchase, lease or rent, and receive the bequests or donations of, or otherwise acquire, sell, trade, or barter any property either real, personal, or mixed, and convert such property into money or other property;
(7) Contract and be contracted with;
(8) Apply for, receive, accept, a
Source: Arkansas Code — historical release 78 (November 6, 2020) · 22-3-1205
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 22-3-1205. This identifies an authority to review, not proof of applicability.