Bonds may be issued for the purpose of refunding any bonds issued under this chapter. Refunding bonds may be either sold or delivered in exchange for the bonds being refunded. If sold, the proceeds may be either applied to payment of the bonds being refunded or deposited in trust and applied as provided by § 19-9-301.
Ark. Code Ann. § 14-217-113
Refunding bonds
Known as the General Consolidated Public Utility System Improvement District Law
The act spans §§ 14–14 (15 sections).
Acts 1975, No. 490, § 11; A.S.A. 1947, § 20-1911.
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.