Browse Arkansas Code titles and sections
6-20-2605. Purpose of bonds.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-20-2605. Purpose of bonds.
Bonds issued under this subchapter shall be issued to finance on a temporary or permanent basis or to develop one (1) or more public school academic facility projects, and the proceeds of the bonds shall be applied to the payment of public school academic facility project costs, the costs and expenses of issuance of the bonds, the repayment of indebtedness incurred to pay public school academic facility project costs, or for refunding of bonds as provided in § 6-20-2613.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-20-2605
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:6-20-2605
Source file: gov.ar.code.title.06.odt
Pages: Not recorded – Not recorded
Passage SHA-256: e9202f2c7d13586ad65adcdcdd37cb2244aac3231113d58c0581cd2d605b362f
Source location: content.xml paragraph 24215
Stored source content
6-20-2605. Purpose of bonds.
Bonds issued under this subchapter shall be issued to finance on a temporary or permanent basis or to develop one (1) or more public school academic facility projects, and the proceeds of the bonds shall be applied to the payment of public school academic facility project costs, the costs and expenses of issuance of the bonds, the repayment of indebtedness incurred to pay public school academic facility project costs, or for refunding of bonds as provided in § 6-20-2613.
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.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-20-2613. Refunding bonds.
(a)(1) Bonds may be issued under this subchapter to refund any outstanding bonds issued under this subchapter.
(2) Bonds issued under this section:
(A) Do not require the Commission for Arkansas Public School Academic Facilities and Transportation to submit a written plan to the Governor under § 6-20-2603(c); and
(B) Are not subject to the requirements for the approval and proclamation of the Governor under § 6-20-2603(d).
(b)(1) The refunding bonds may be either sold for cash or delivered in exchange for the outstanding obligations.
(2) If sold for cash, the proceeds may be applied to the payment of the obligations refunded or may be deposited in irrevocable trust for the retirement of the outstanding obligations either at maturity or on an authorized redemption date.
(c)(1) Refunding bonds shall in all respects be authorized, issued, and secured as provided for the bonds being refunded and shall have all the attributes of the refunded bonds.
(2) To the extent that the refunding bonds are not in a greater principal amount than the outstanding principal amount of the bonds being refunded, the principal amount of the refunding bonds shall not be subject to the limit of seven hundred fifty million dollars ($750,000,000) set forth in § 6-20-2603(a) or the limit of one hundred fifty million dollars ($150,000,000) set forth in § 6-20-2603(b).
(d) The resolution or trust indenture under which the refunding bonds are issued shall provide that any refunding bonds shall have the same priority of payment as the obligations refunded.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-20-2613
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 6-20-2613. This identifies an authority to review, not proof of applicability.