Ark. Code Ann. § 11-10-1005: Governor's proclamation

(a) The Arkansas Development Finance Authority shall prepare and distribute to the Governor a report that shall contain a plan for repaying the federal Unemployment Trust Fund debt and the estimated time and cost to repay the debt.

(b) Upon receipt of the report described in subsection (a) of this section, the Governor shall, if the Governor deems it to be in the public interest, by proclamation call an election on the question of issuing the bonds.