Browse Arkansas Code titles and sections
6-64-616. Bonds — Construction fund.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-64-616. Bonds — Construction fund.
(a) The Board of Trustees of the University of Arkansas shall include necessary provisions in the authorizing resolution or trust indenture to require the deposit of the proceeds of each bond issue, except the accrued interest, which shall be deposited into the bond fund, into a special construction fund which shall be a trust fund in such depository as the board shall designate.
(b) The depository shall be a member of the Federal Deposit Insurance Corporation, and all moneys in excess of the amount insured by the Federal Deposit Insurance Corporation must be secured by direct obligations of the United States unless invested in securities specified by the board.
(c) The moneys in the construction fund shall be used solely for the purposes set forth in § 6-64-606.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-64-616
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:6-64-616
Source file: gov.ar.code.title.06.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 15abd5dc8b08f44ae7152a8ea9e6cdd39a369b260f0a807e3677bc7cba5b7ee4
Source location: content.xml paragraph 40074
Stored source content
6-64-616. Bonds — Construction fund.
(a) The Board of Trustees of the University of Arkansas shall include necessary provisions in the authorizing resolution or trust indenture to require the deposit of the proceeds of each bond issue, except the accrued interest, which shall be deposited into the bond fund, into a special construction fund which shall be a trust fund in such depository as the board shall designate.
(b) The depository shall be a member of the Federal Deposit Insurance Corporation, and all moneys in excess of the amount insured by the Federal Deposit Insurance Corporation must be secured by direct obligations of the United States unless invested in securities specified by the board.
(c) The moneys in the construction fund shall be used solely for the purposes set forth in § 6-64-606.
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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.