Section 15-5-404 - Power of authority to grant or deny guaranty bonds

The Arkansas Development Finance Authority, in addition to all the duties and functions defined in the Arkansas Development Finance Authority Act, §§ 15-5-101 - 15-5-106, 15-5-201 - 15-5-211, 15-5-213, and 15-5-301 - 15-5-316, is empowered to approve or deny by majority vote of the Board of Directors of the Arkansas Development Finance Authority the guaranty as provided in this subchapter of amortization payments on qualified bonds, subject to the provisions, restrictions, and conditions set forth in this subchapter.Acts 1985, No. 340, § 4; 1985, No. 505, § 4; A.S.A. 1947, § 13-2927; Acts 1987, No. 1042, § 2.