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6-61-1003. Issuance of bonds.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-61-1003. Issuance of bonds.
The board of trustees is authorized and empowered to issue its bonds with a specific pledge for the payment of debt service and costs of issuance thereof from all or any part of the following:
(1) The gross tolls, fees, rents, and other charges to be derived as income from the project;
(2) Any surplus not pledged of the gross tolls, fees, rents, and other charges to be derived from other projects financed in whole or in part by bonds issued by the board;
(3) All or any part of revenues derived from any auxiliary enterprise authorized by law;
(4) Tuition and fees collected from students;
(5) All or any part of the proceeds of any tax or special millage now or hereafter approved by the General Assembly for the accomplishment of the purposes of this subchapter;
(6) All or any part of the revenues described in § 6-53-207(d) and (e) and § 6-61-603(b); and
(7)(A) Any funds received from the United States, or any department or agency thereof, pursuant to any act of the United States Congress, providing for grants or payments to educational institutions in connection with, or in any way pertaining to, the financing of acquiring lands and constructing and equipping buildings and improvements thereon.
(B) In regard to the funds referred to in subdivision (7)(A) of this section, the board of trustees is authorized to take such action, comply with such terms and conditions, and execute such agreements as may be necessary to apply for, receive, pledge, or use such funds for the purposes specified in this subchapter or any other lawful purpose.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-61-1003
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:6-61-1003
Source file: gov.ar.code.title.06.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 231ccbfc3a54214fcd6aef937b49fb8cf7a258344d82f0f0336c389c3fa1d1d4
Source location: content.xml paragraph 36743
Stored source content
6-61-1003. Issuance of bonds.
The board of trustees is authorized and empowered to issue its bonds with a specific pledge for the payment of debt service and costs of issuance thereof from all or any part of the following:
(1) The gross tolls, fees, rents, and other charges to be derived as income from the project;
(2) Any surplus not pledged of the gross tolls, fees, rents, and other charges to be derived from other projects financed in whole or in part by bonds issued by the board;
(3) All or any part of revenues derived from any auxiliary enterprise authorized by law;
(4) Tuition and fees collected from students;
(5) All or any part of the proceeds of any tax or special millage now or hereafter approved by the General Assembly for the accomplishment of the purposes of this subchapter;
(6) All or any part of the revenues described in § 6-53-207(d) and (e) and § 6-61-603(b); and
(7)(A) Any funds received from the United States, or any department or agency thereof, pursuant to any act of the United States Congress, providing for grants or payments to educational institutions in connection with, or in any way pertaining to, the financing of acquiring lands and constructing and equipping buildings and improvements thereon.
(B) In regard to the funds referred to in subdivision (7)(A) of this section, the board of trustees is authorized to take such action, comply with such terms and conditions, and execute such agreements as may be necessary to apply for, receive, pledge, or use such funds for the purposes specified in this subchapter or any other lawful purpose.
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Arkansas Code — all titles (historical 2020) · legal_authorities
6-53-207. Capital outlays.
(a) Unless exempted under the provisions of § 19-4-522, any expenditure of State Treasury funds for capital outlay expenses or construction costs, as set forth in § 19-4-524, of an institution within the system shall be subject to the prior approval of the General Assembly upon the recommendation of the Arkansas Higher Education Coordinating Board.
(b) Except those funds allocated under the College Savings Bond Act of 1989, § 6-62-701 et seq., or provided during the 1991-1993 biennium, prior to the withdrawal of state funds from the State Treasury for use in approved capital outlays, the board shall obtain and transmit to the Chief Fiscal Officer of the State a certificate from the chair of the local board of the technical or community college stating that a minimum of fifty percent (50%) of each project cost has been provided by local funds.
(c) No state moneys appropriated for general operating expenses of an institution shall be used for capital outlay expenses.
(d) Capital outlay expenses shall be paid from gifts, grants, profits from auxiliary enterprises, tuition, fees, local millages, and other local funds and may be paid from state funds appropriated for such purposes.
(e) Revenues derived from any local sales and use tax levied under § 26-74-201 et seq., § 26-74-301 et seq., § 26-75-201 et seq., or § 26-75-301 et seq., may be used to finance capital outlay expenses for institutions of higher education.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-53-207
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 6-53-207. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-61-603. Capital outlays generally.
Capital outlay expenses shall be paid from gifts, grants, profits from auxiliary enterprises, tuition, fees, local millages, and other local funds and may be paid from state funds appropriated for such purposes.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-61-603
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 6-61-603. This identifies an authority to review, not proof of applicability.