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Section 15-4-3011 - Sale and price of bonds — Arkansas Law | CourtGPT
  1. Home/
  2. Laws/
  3. Arkansas/
  4. Title 15 - Natural Resources and Economic Development (§§ 15-1-101 — 15-76-324)/
  5. Subtitle 1 - Development of Economic and Natural Resources Generally/
  6. Chapter 4 - Development of Business and Industry Generally Sub/
  7. Subchapter 30 - Arkansas General Obligation Economic Development Superprojects Bond and Project Funding Act/
  8. Section 15-4-3011 - Sale and price of bonds
Arkansas Legal Code
(a) The bonds may be sold in the manner, either at public or private sale, and upon terms as determined by the Arkansas Development Finance Authority to be reasonable and expedient for effectuating the purposes of this subchapter.(b) The bonds may be sold at the price the authority determines acceptable, including sale at a discount.(c) The authority may employ administrative agents, fiscal agents, underwriters, architects, accountants, engineers, and legal counsel and may pay them reasonable compensation from the proceeds of the bonds.(d) The proceeds from the sale of the bonds may be used to pay: (1) The fees of any trustee or paying agent;(2) The costs of publication of notices;(3) The costs of publication of the printing of the bonds;(4) The costs of publication of official statements and other documents relating to the sale of the bonds;(5) The fees of any rating agency; and(6) Other reasonable costs incurred by the authority for issuing and selling the bonds.Acts 2003, No. 1751, § 11.

Section 15-4-3011 - Sale and price of bonds

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