Arkansas Code Title 14. Local Government § 14-269-107. Bonds--Refunding
Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Search Arkansas Code
Search by Keyword or Citation
(a) Revenue bonds may be issued under this subchapter for the purpose of refunding any obligations issued under this subchapter.
(b) The refunding bonds may be combined with bonds issued under the provisions of § 14-269-106 into a single issue.
(c)(1) When bonds are issued under this section for refunding purposes, the bonds may either be sold or delivered in exchange for the outstanding obligations.
(2) If sold, the proceeds may be either applied to the payment of the obligations refunded or deposited in escrow for the retirement thereof.
(d) All bonds issued under this section shall, in all respects, be authorized, issued, and secured in the manner provided for other bonds issued under this subchapter and shall have all the attributes of those bonds.
(e) The ordinance under which the refunding bonds are issued may provide that any of the refunding bonds shall have the same priority of lien on the revenues pledged for their payment as was enjoyed by the obligations refunded thereby.
Cite this article: FindLaw.com - Arkansas Code Title 14. Local Government § 14-269-107. Bonds--Refunding - last updated January 01, 2020 | https://codes.findlaw.com/ar/title-14-local-government/ar-code-sect-14-269-107.html
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?