Ark. Code Ann. § 26-51-1201: Definition
Where this section sits in the code
- AR Code
- Title 26
- Chapter 51
- Subchapter 12
As used in this section, § 26-51-1202 , and § 26-51-1203 , "invested" includes expenditures made from the proceeds of bonds, including interim notes or other evidence of indebtedness, issued by a municipality, county, or an agency or instrumentality of a municipality, county, or the State of Arkansas, if the obligation to repay the bonds, including interest on the bonds, is a legal, binding obligation, directly or indirectly, of the taxpayer.
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