(a) (1) Revenue bonds may be issued under this chapter to refund any obligations issued under this chapter. (2) The refunding bonds may be combined with bonds issued into a single issue. (b) (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 the bonds are sold, the proceeds may be either applied to the payment of the obligations refunded or deposited in escrow for the retirement of the bonds. (c) (1) All refunding bonds issued under this chapter shall in all respects be authorized, issued, and secured in the manner provided for other bonds issued under this chapter and shall have all the attributes of those bonds. (2) The resolution 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 by the bonds. Acts 2007, No. 1045, § 1. (a) (1) Revenue bonds may be issued under this chapter to refund any obligations issued under this chapter. (2) The refunding bonds may be combined with bonds issued into a single issue. (b) (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 the bonds are sold, the proceeds may be either applied to the payment of the obligations refunded or deposited in escrow for the retirement of the bonds. (c) (1) All refunding bonds issued under this chapter shall in all respects be authorized, issued, and secured in the manner provided for other bonds issued under this chapter and shall have all the attributes of those bonds. (2) The resolution 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 by the bonds. Acts 2007, No. 1045, § 1. (a) (1) Revenue bonds may be issued under this chapter to refund any obligations issued under this chapter. (2) The refunding bonds may be combined with bonds issued into a single issue. (b) (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 the bonds are sold, the proceeds may be either applied to the payment of the obligations refunded or deposited in escrow for the retirement of the bonds. (c) (1) All refunding bonds issued under this chapter shall in all respects be authorized, issued, and secured in the manner provided for other bonds issued under this chapter and shall have all the attributes of those bonds. (2) The resolution 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 by the bonds. Acts 2007, No. 1045, § 1. (a) (1) Revenue bonds may be issued under this chapter to refund any obligations issued under this chapter. (2) The refunding bonds may be combined with bonds issued into a single issue. (1) Revenue bonds may be issued under this chapter to refund any obligations issued under this chapter. (2) The refunding bonds may be combined with bonds issued into a single issue. (b) (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 the bonds are sold, the proceeds may be either applied to the payment of the obligations refunded or deposited in escrow for the retirement of the bonds. (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 the bonds are sold, the proceeds may be either applied to the payment of the obligations refunded or deposited in escrow for the retirement of the bonds. (c) (1) All refunding bonds issued under this chapter shall in all respects be authorized, issued, and secured in the manner provided for other bonds issued under this chapter and shall have all the attributes of those bonds. (2) The resolution 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 by the bonds. (1) All refunding bonds issued under this chapter shall in all respects be authorized, issued, and secured in the manner provided for other bonds issued under this chapter and shall have all the attributes of those bonds. (2) The resolution 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 by the bonds. Acts 2007, No. 1045, § 1.
‹ Prev All Arkansas sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.