Arkansas Code Title 15. Natural Resources and Economic Development § 15-4-708. Public sale of bonds

(a) The bonds shall be sold at public sale on sealed bids.

(b) Notice of the sale shall be published one (1) time a week for three (3) consecutive weeks in a newspaper published in the City of Little Rock and having a general circulation throughout the State of Arkansas, with the first publication to be at least twenty (20) days prior to the date of sale.

(c) The award, if made, shall be to the bidder whose bid results in the lowest net interest cost, determined by computing the aggregate interest cost at the rate bid and deducting any premium or adding the amount of any discount.