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.
Ark. Code Ann. § 15-5-404
Power of authority to grant or deny guaranty bonds
Acts 1985, No. 340, § 4; 1985, No. 505, § 4; A.S.A. 1947, § 13-2927; Acts 1987, No. 1042, § 2.
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.