Issuance of revenue bonds — Authorization

  1. Law
  2. Arkansas Code
  3. Local Government
  4. Public Facilities Generally
  5. Research Park Authority Act
  6. Finance
  7. Issuance of revenue bonds — Authorization

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  1. (a) A research park authority may use any available revenues for the accomplishment of the purposes and the implementation of the powers authorized by this chapter, including the proceeds of revenue bonds issued from time to time under this chapter, either alone or together with other available funds and revenues.

  2. (b) The amount of each issue of bonds may be sufficient to pay:

    1. (1) The costs of accomplishing the purposes for which the bonds are being issued;

    2. (2) The cost of issuing the bonds;

    3. (3) The amount necessary for a reserve, if it is determined to be desirable in favorably marketing the bonds;

    4. (4) The amount, if any, necessary to provide for debt service on the bonds until revenues for the payment of the bonds are available; and

    5. (5) Any other costs and expenditures of whatever nature incidental to the accomplishment of the specified purposes.


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