{"data":{"id":"us-ar/ark.-code-ann.-11-10-1004","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 11-10-1004","heading":"Authorization - Purposes","body":"(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.\n\n(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).\n\n(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.\n\n(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 ;\n\n(2) Pay the costs of issuance of the bonds including without limitation the costs of bond insurance or other credit enhancement;\n\n(3) Pay unemployment benefits by depositing bond proceeds into the Unemployment Compensation Fund;\n\n(4) Provide a debt service reserve; and\n\n(5) Pay capitalized interest on the bonds for a period not to exceed two (2) years.","path":["AR Code","Title 11","Chapter 10","Subchapter 10"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"b3a529c406bf7ac16d31f3a2dd9c792dceb8e5e33d62bf69ff03da2e74add8c0","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-11-10-1003","next":"us-ar/ark.-code-ann.-11-10-1005"},"notice":"GroundRules: Original legal text. Not legal advice."}