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22-3-1212. Certificates of indebtedness — Funds used for purchase — Retirement.
Arkansas Code — all titles (historical 2020) · legal_authorities
22-3-1212. Certificates of indebtedness — Funds used for purchase — Retirement.
(a)(1) The state funds which may be used by the State Board of Finance in making the purchases of the certificates of indebtedness are those specifically referred to under the provisions of the State Treasury Management Law, § 19-3-501 et seq.
(2) All certificates purchased or received shall be held in trust for the use and benefit of the various state funds used in the purchase.
(b) With respect to each certificate of indebtedness, at maturity thereof, the Treasurer of State shall:
(1) Withdraw the certificate from the Securities Account, charge the Securities Account with the principal thereof, and cancel the certificate;
(2) Withdraw from the Public Facilities Debt Service Fund established by this subchapter the aggregate amount of principal and interest then due on the certificate;
(3) Deposit into the State Treasury to the credit of the Cash Account that part of the aggregate amount representing the principal indebtedness evidenced by the certificate; and
(4) Deposit into the Securities Reserve Fund, as nonrevenue receipts, that part of the aggregate amount representing interest then due on the certificate.
(c) The certificates of indebtedness which have been paid and cancelled by the Treasurer of State shall be delivered to the Building Authority Division.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 22-3-1212
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:22-3-1212
Source file: gov.ar.code.title.22.odt
Pages: Not recorded – Not recorded
Passage SHA-256: c9f82c8643d19527152179feb6b364b9e85007c009a8bd7a4760c0a16d0296f6
Source location: content.xml paragraph 2297
Stored source content
22-3-1212. Certificates of indebtedness — Funds used for purchase — Retirement.
(a)(1) The state funds which may be used by the State Board of Finance in making the purchases of the certificates of indebtedness are those specifically referred to under the provisions of the State Treasury Management Law, § 19-3-501 et seq.
(2) All certificates purchased or received shall be held in trust for the use and benefit of the various state funds used in the purchase.
(b) With respect to each certificate of indebtedness, at maturity thereof, the Treasurer of State shall:
(1) Withdraw the certificate from the Securities Account, charge the Securities Account with the principal thereof, and cancel the certificate;
(2) Withdraw from the Public Facilities Debt Service Fund established by this subchapter the aggregate amount of principal and interest then due on the certificate;
(3) Deposit into the State Treasury to the credit of the Cash Account that part of the aggregate amount representing the principal indebtedness evidenced by the certificate; and
(4) Deposit into the Securities Reserve Fund, as nonrevenue receipts, that part of the aggregate amount representing interest then due on the certificate.
(c) The certificates of indebtedness which have been paid and cancelled by the Treasurer of State shall be delivered to the Building Authority Division.
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Arkansas Code — all titles (historical 2020) · legal_authorities
19-3-501. Title.
This subchapter shall be known and may be cited as the “State Treasury Management Law”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-3-501
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 19-3-501. This identifies an authority to review, not proof of applicability.