Browse Arkansas Code titles and sections
27-64-506. Procedure for issuing State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds.
Arkansas Code — all titles (historical 2020) · legal_authorities
27-64-506. Procedure for issuing State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds.
(a) Prior to the issuance of any series of State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds, the State Highway Commission shall adopt a resolution authorizing the issuance of the series of bonds.
(b) Each resolution shall contain those terms, covenants, and conditions as are desirable and consistent with this subchapter, including without limitation those pertaining to the establishment and maintenance of funds and accounts, the deposit and investment of the federal highway assistance payments and bond proceeds, and the rights and obligations of the state, its officers and officials, the commission, and the registered owners of the bonds.
(c)(1) The resolutions of the commission may provide for the execution and delivery by the commission of a trust indenture or trust indentures with one (1) or more banks or trust companies located within or without the state, containing any of the terms, covenants, and conditions required under subsection (b) of this section and any other terms and conditions deemed necessary by the commission.
(2) The trust indenture or trust indentures are binding upon the commission and the state and their respective officers and officials.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 27-64-506
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.
Issuing source page ↗
Authority boundary: historical statutory source snapshot not current law.
Open the recorded source website ↗
Record provenance
Stable record: arkansas_code:legal_authorities:27-64-506
Source file: gov.ar.code.title.27.odt
Pages: Not recorded – Not recorded
Passage SHA-256: a57ce6f0dbb700df31853cf24f51fe428bff020b6391f208f33ea4021edb9839
Source location: content.xml paragraph 21180
Stored source content
27-64-506. Procedure for issuing State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds.
(a) Prior to the issuance of any series of State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds, the State Highway Commission shall adopt a resolution authorizing the issuance of the series of bonds.
(b) Each resolution shall contain those terms, covenants, and conditions as are desirable and consistent with this subchapter, including without limitation those pertaining to the establishment and maintenance of funds and accounts, the deposit and investment of the federal highway assistance payments and bond proceeds, and the rights and obligations of the state, its officers and officials, the commission, and the registered owners of the bonds.
(c)(1) The resolutions of the commission may provide for the execution and delivery by the commission of a trust indenture or trust indentures with one (1) or more banks or trust companies located within or without the state, containing any of the terms, covenants, and conditions required under subsection (b) of this section and any other terms and conditions deemed necessary by the commission.
(2) The trust indenture or trust indentures are binding upon the commission and the state and their respective officers and officials.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
No explicit source connection was found. This does not mean there are no relevant authorities.