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6-64-612. Bonds — Pledge of costs levied by subchapter.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-64-612. Bonds — Pledge of costs levied by subchapter.
(a) The bonds, principal and interest, shall be special obligations of the Board of Trustees of the University of Arkansas secured by and payable from a pledge of all or a portion of the collections of the costs levied by this subchapter.
(b) The pledge of bonds shall constitute a prior pledge of, and claim on, such costs over any other claim arising out of, or pertaining to, any other authorized use of collections of such costs as specified in § 6-64-606.
(c) The bonds, principal and interest, shall not be secured by a pledge of any other appropriated funds or cash funds of the board or the university.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-64-612
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:6-64-612
Source file: gov.ar.code.title.06.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 5f76110dc71df48f97ddd499f1c817dc050fbccbd2b4f13b2ab06950bbe7b3e4
Source location: content.xml paragraph 40044
Stored source content
6-64-612. Bonds — Pledge of costs levied by subchapter.
(a) The bonds, principal and interest, shall be special obligations of the Board of Trustees of the University of Arkansas secured by and payable from a pledge of all or a portion of the collections of the costs levied by this subchapter.
(b) The pledge of bonds shall constitute a prior pledge of, and claim on, such costs over any other claim arising out of, or pertaining to, any other authorized use of collections of such costs as specified in § 6-64-606.
(c) The bonds, principal and interest, shall not be secured by a pledge of any other appropriated funds or cash funds of the board or the university.
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Arkansas Code — all titles (historical 2020) · legal_authorities
6-64-606. Levy of costs — Use and priorities of funds collected.
(a) All collections of the costs levied by this subchapter shall be used by the Board of Trustees of the University of Arkansas solely for purposes of legal education, including academic, clinical, and continuing education, operated under the auspices and academic administration of the University of Arkansas School of Law, including, without limitation, financing the costs of:
(1) The construction, expansion, improvement, or equipping of buildings and facilities for legal education on the sites owned by the board and located in or near the City of Fayetteville, Arkansas, or the City of Little Rock, Arkansas; and
(2) The operation of legal education programs.
(b) In determining the needs of legal education in Arkansas and in allocating funds to meet these needs from the levying of costs as provided in this subchapter, including funds derived from revenue bonds authorized in this subchapter, the board shall give first priority to the upgrading and maintenance of the University of Arkansas at Fayetteville School of Law to the end that such school, as quickly as funds permit, shall become a first-class quality law school in the physical facilities, library content, faculty, administration, and operating program.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-64-606
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 6-64-606. This identifies an authority to review, not proof of applicability.