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6-62-1113. Sources of repayment.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-62-1113. Sources of repayment.
(a) The State of Arkansas Higher Education General Obligation Bonds shall be direct general obligations of the State of Arkansas for the payment of the debt service on which the full faith and credit of the state are irrevocably pledged so long as any of the bonds are outstanding.
(b)(1) The bonds shall be payable from the general revenues of the state, and the amount of general revenues necessary is pledged to the payment of debt service on the bonds and shall remain pledged for those purposes.
(2) Each authorizing resolution or trust indenture may provide for a reserve, credit enhancement, bond insurance, surety bond, or liquidity facility for the bonds.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-62-1113
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:6-62-1113
Source file: gov.ar.code.title.06.odt
Pages: Not recorded – Not recorded
Passage SHA-256: f1995b3007e3a9a959779e757b58c6a735eecf0108888f7027b69f2cbc2ee749
Source location: content.xml paragraph 38359
Stored source content
6-62-1113. Sources of repayment.
(a) The State of Arkansas Higher Education General Obligation Bonds shall be direct general obligations of the State of Arkansas for the payment of the debt service on which the full faith and credit of the state are irrevocably pledged so long as any of the bonds are outstanding.
(b)(1) The bonds shall be payable from the general revenues of the state, and the amount of general revenues necessary is pledged to the payment of debt service on the bonds and shall remain pledged for those purposes.
(2) Each authorizing resolution or trust indenture may provide for a reserve, credit enhancement, bond insurance, surety bond, or liquidity facility for the bonds.
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