Ark. Code Ann. § 14-169-608

Bonds or other obligations issued by a housing authority in connection with a redevelopment project pursuant to this subchapter shall be security for public deposits and legal investments to the same extent and for the same persons, institutions, associations, corporations, and other bodies and officers as bonds or other obligations issued pursuant to the Housing Authorities Act, §§ 14-169-201 — 14-169-205, 14-169-207 — 14-169-225, 14-169-227, 14-169-229 — 14-169-240, and 14-169-804, in connection with the development of slum clearance or housing projects.