GroundRules
Ark. Code Ann. § 11-10-1004: Authorization - Purposes
Where this section sits in the code
- AR Code
- Title 11
- Chapter 10
- Subchapter 10
(a) The Arkansas Development Finance Authority is authorized, subject to the approval of the voters in a statewide election, to issue bonds to be known as the Arkansas Unemployment Trust Fund Bonds in an aggregate principal amount not to exceed five hundred million dollars ($500,000,000). (b) The purpose of the bond issuance shall be to: (1) Repay the principal of and interest on advances from the federal trust fund under Title XII of the Social Security Act, 42 U.S.C. § 1321 ; (2) Pay the costs of issuance of the bonds including without limitation the costs of bond insurance or other credit enhancement; (3) Pay unemployment benefits by depositing bond proceeds into the Unemployment Compensation Fund; (4) Provide a debt service reserve; and (5) Pay capitalized interest on the bonds for a period not to exceed two (2) years. Acts 2011, No. 1125, § 1.
(a) The Arkansas Development Finance Authority is authorized, subject to the approval of the voters in a statewide election, to issue bonds to be known as the Arkansas Unemployment Trust Fund Bonds in an aggregate principal amount not to exceed five hundred million dollars ($500,000,000).
(b) The purpose of the bond issuance shall be to: (1) Repay the principal of and interest on advances from the federal trust fund under Title XII of the Social Security Act, 42 U.S.C. § 1321 ; (2) Pay the costs of issuance of the bonds including without limitation the costs of bond insurance or other credit enhancement; (3) Pay unemployment benefits by depositing bond proceeds into the Unemployment Compensation Fund; (4) Provide a debt service reserve; and (5) Pay capitalized interest on the bonds for a period not to exceed two (2) years.
(1) Repay the principal of and interest on advances from the federal trust fund under Title XII of the Social Security Act, 42 U.S.C. § 1321 ;
(2) Pay the costs of issuance of the bonds including without limitation the costs of bond insurance or other credit enhancement;
(3) Pay unemployment benefits by depositing bond proceeds into the Unemployment Compensation Fund;
(4) Provide a debt service reserve; and
(5) Pay capitalized interest on the bonds for a period not to exceed two (2) years.
Collected 2026-09-17T21:35:43Z. Source file · JSON
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Arkansas electronic product files were republished by Public.Resource.Org under a public-domain mark. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows. Source