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27-64-308. Sale of bonds.
Arkansas Code — all titles (historical 2020) · legal_authorities
27-64-308. Sale of bonds.
(a)(1) The State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds may be sold in any manner, either at private or public sale, and upon terms as the State Highway Commission shall determine to be reasonable and expedient for effecting the purposes of this subchapter.
(2) The bonds may be sold at a price acceptable to the commission. The price may include a discount or premium.
(b)(1) If the bonds are to be sold at public sale, the commission shall give notice of the offering of the bonds in a manner reasonably designed to notify participants in the public finance industry that the offering is being made.
(2) The commission shall set the terms and conditions of bidding, including the basis on which the winning bid will be selected.
(c) The commission may structure the sale of bonds utilizing financing techniques that are recommended by the commission's professional advisors in order to take advantage of market conditions and to obtain the most favorable interest rates consistent with the purposes of this subchapter.
(d) The commission may enter into any ancillary agreements in connection with the sale of the bonds as it deems necessary and advisable, including, without limitation, bond purchase agreements, remarketing agreements, and letter of credit reimbursement agreements.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 27-64-308
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:27-64-308
Source file: gov.ar.code.title.27.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 616ceda6dee5a64ae38d0a21c05b96e1f23fc5c31d239f583015f2a309d8bdb4
Source location: content.xml paragraph 20913
Stored source content
27-64-308. Sale of bonds.
(a)(1) The State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds may be sold in any manner, either at private or public sale, and upon terms as the State Highway Commission shall determine to be reasonable and expedient for effecting the purposes of this subchapter.
(2) The bonds may be sold at a price acceptable to the commission. The price may include a discount or premium.
(b)(1) If the bonds are to be sold at public sale, the commission shall give notice of the offering of the bonds in a manner reasonably designed to notify participants in the public finance industry that the offering is being made.
(2) The commission shall set the terms and conditions of bidding, including the basis on which the winning bid will be selected.
(c) The commission may structure the sale of bonds utilizing financing techniques that are recommended by the commission's professional advisors in order to take advantage of market conditions and to obtain the most favorable interest rates consistent with the purposes of this subchapter.
(d) The commission may enter into any ancillary agreements in connection with the sale of the bonds as it deems necessary and advisable, including, without limitation, bond purchase agreements, remarketing agreements, and letter of credit reimbursement agreements.
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