Purpose of bonds

  1. Law
  2. Arkansas Code
  3. Natural Resources and Economic Development
  4. Development Of Economic And Natural Resources Generally
  5. Development Of Business And Industry Generally
  6. Arkansas General Obligation Economic Development Superprojects Bond and Project Funding Act
  7. Purpose of bonds

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  1. (a) Bonds shall be issued for the purpose of financing superprojects.

  2. (b) The proceeds of the bonds shall be applied:

    1. (1) To the payment of project costs and the costs and expenses of issuance of the bonds;

    2. (2) In connection with a superproject refinancing, to the repayment of indebtedness incurred to pay project costs; or

    3. (3) For refunding of bonds as provided in this subchapter.


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