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6-20-1008. Sale and award of bonds.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-20-1008. Sale and award of bonds.
(a) The bonds shall be sold at public sale on sealed bids.
(b)(1) Notice of the sale shall be published one (1) time a week for at least two (2) consecutive weeks in a newspaper published in the City of Little Rock and having a general circulation throughout the State of Arkansas, with the first publication to be at least twenty (20) days before the date of sale.
(2) The notice may be published in such other publications as the State Board of Education may determine.
(c) The bonds may be sold at such price as the state board may accept, including sale at a discount.
(d) The award, if made, shall be to the bidder whose bid results in the lowest net interest cost, which shall be determined by computing the aggregate interest cost from date to maturity at the rate or rates bid and deducting the amount of any premium or adding the amount of any discount.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-20-1008
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:6-20-1008
Source file: gov.ar.code.title.06.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 9ac5ec601c62012d808e899be1d563a943d8edabf7bc16443414e8f8deeb2f4f
Source location: content.xml paragraph 21578
Stored source content
6-20-1008. Sale and award of bonds.
(a) The bonds shall be sold at public sale on sealed bids.
(b)(1) Notice of the sale shall be published one (1) time a week for at least two (2) consecutive weeks in a newspaper published in the City of Little Rock and having a general circulation throughout the State of Arkansas, with the first publication to be at least twenty (20) days before the date of sale.
(2) The notice may be published in such other publications as the State Board of Education may determine.
(c) The bonds may be sold at such price as the state board may accept, including sale at a discount.
(d) The award, if made, shall be to the bidder whose bid results in the lowest net interest cost, which shall be determined by computing the aggregate interest cost from date to maturity at the rate or rates bid and deducting the amount of any premium or adding the amount of any discount.
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