Bonds issued under this chapter may be sold with the privilege of conversion to an issue bearing a lower rate or rates of interest upon such terms that the authority issuing the bonds receive no less and pay no more than it would receive and pay if the bonds were not converted. The conversion shall be subject to the approval of the authority issuing the bonds.
Ark. Code Ann. § 14-185-128
Bonds — Conversion
Known as the Metropolitan Port Authority Act
The act spans §§ 14-185-101–14-185-137 (37 sections).
Acts 1961, No. 439, § 9; 1970 (Ex
Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.