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27-64-311. Investment of proceeds.
Arkansas Code — all titles (historical 2020) · legal_authorities
27-64-311. Investment of proceeds.
(a) Any designated revenues and any proceeds of the State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds held pending disbursement on highway improvements shall be invested by the State Highway Commission to the full extent practicable pending disbursement for the purposes intended.
(b) Notwithstanding any other provision of law, the investments shall be in accordance with the terms of the resolution or trust indenture authorizing or securing the series of bonds to which the designated revenues or bond proceeds appertain to the extent that the terms of the resolution or trust indenture are applicable.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 27-64-311
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:27-64-311
Source file: gov.ar.code.title.27.odt
Pages: Not recorded – Not recorded
Passage SHA-256: c5067a13eb2720911e051aec4c0d3339addbb1bda999cb9ad02c68f4b8633fa3
Source location: content.xml paragraph 20941
Stored source content
27-64-311. Investment of proceeds.
(a) Any designated revenues and any proceeds of the State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds held pending disbursement on highway improvements shall be invested by the State Highway Commission to the full extent practicable pending disbursement for the purposes intended.
(b) Notwithstanding any other provision of law, the investments shall be in accordance with the terms of the resolution or trust indenture authorizing or securing the series of bonds to which the designated revenues or bond proceeds appertain to the extent that the terms of the resolution or trust indenture are applicable.
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