GroundRules
Ark. Code Ann. § 15-22-1310: Bonds - Refunding
Where this section sits in the code
- AR Code
- Title 15
- Chapter 22
- Subchapter 13
(a) Bonds may be issued for the purpose of refunding either at maturity or in advance of maturity any bonds issued under this subchapter or any bonds issued by the Arkansas Development Finance Authority to finance the Construction Assistance Revolving Loan Fund or the Safe Drinking Water Fund.
(b) The refunding bonds may either be sold or delivered in exchange for the bonds being refunded.
(c) If sold, proceeds of the bonds may either be applied to the payment of the bonds being refunded or deposited in trust and there maintained in cash or investments for the retirement of the bonds being refunded as specified by the Arkansas Natural Resources Commission and the authorizing resolution or trust indenture securing the refunding bonds.
(d) The authorizing resolution or trust indenture securing the refunding bonds may provide that the refunding bonds shall have the same security for their payment as provided for the bonds being refunded.
(e) Refunding bonds shall be sold and secured in accordance with the provisions of this subchapter pertaining to the sale and security of bonds.
Collected 2026-09-17T21:35:43Z. Source file · JSON
Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text. Source · License
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