Browse Arkansas Code titles and sections
27-64-304. Authorization — Purposes.
Arkansas Code — all titles (historical 2020) · legal_authorities
27-64-304. Authorization — Purposes.
(a) Subject to the one-time approval of the voters in a statewide election, the State Highway Commission may issue State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds from time to time if the total principal amount outstanding from the issuance of the bonds, together with the total principal amount outstanding from the issuance of bonds pursuant to the Arkansas Highway Financing Act of 1999, § 27-64-201 et seq., does not at any time exceed five hundred seventy-five million dollars ($575,000,000).
(b) The purpose of the bond issuance shall be:
(1) Accelerating interstate highway improvement projects already underway or scheduled;
(2) Funding new interstate highway improvement projects;
(3) Financing the restoration, reconstruction, and renovation of interstate highway improvements within the State of Arkansas; and
(4) Paying the costs of issuance of the bonds or other credit enhancement.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 27-64-304
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:27-64-304
Source file: gov.ar.code.title.27.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 5366c1dedafb787d7dea18510e1276fa2e7bb7fd86dcab116b432499cc982210
Source location: content.xml paragraph 20856
Stored source content
27-64-304. Authorization — Purposes.
(a) Subject to the one-time approval of the voters in a statewide election, the State Highway Commission may issue State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds from time to time if the total principal amount outstanding from the issuance of the bonds, together with the total principal amount outstanding from the issuance of bonds pursuant to the Arkansas Highway Financing Act of 1999, § 27-64-201 et seq., does not at any time exceed five hundred seventy-five million dollars ($575,000,000).
(b) The purpose of the bond issuance shall be:
(1) Accelerating interstate highway improvement projects already underway or scheduled;
(2) Funding new interstate highway improvement projects;
(3) Financing the restoration, reconstruction, and renovation of interstate highway improvements within the State of Arkansas; and
(4) Paying the costs of issuance of the bonds or other credit enhancement.
Cross-references
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Arkansas Code — all titles (historical 2020) · legal_authorities
27-64-201. Title.
This subchapter may be referred to and cited as the “Arkansas Highway Financing Act of 1999”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 27-64-201
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 27-64-201. This identifies an authority to review, not proof of applicability.