Issuance of second-lien commercial bonds — Definitions

  1. Law
  2. Arkansas Code
  3. Education
  4. Elementary and Secondary Education Generally
  5. Finances
  6. District Bonds
  7. Issuance of second-lien commercial bonds — Definitions

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  1. (a) As used in this section:

    1. (1) “Issue”, “issuance”, or some variety thereof means the date upon which a second-lien bond is actually sold; and

    2. (2) “Second-lien bond” means a commercial bond issued under the authority set forth in § 26-80-106.

  2. (b) All second-lien bonds issued by school districts shall have semiannual interest payments.


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