Arkansas § 14-78-104 - Refunding obligations.
Full text of Arkansas Arkansas Code of 1987 Annotated § 14-78-104 — Refunding obligations., with citation guidance and answers to common questions.
§ 14-78-104. Refunding obligations.
Obligations may be issued under this chapter to refund any outstanding short-term financing obligations issued pursuant to Arkansas Constitution, Amendment 78, whether or not issued under this chapter. Refunding obligations may be either sold for cash or delivered in exchange for the outstanding obligations being refunded. If sold for cash, the proceeds may be applied to the payment of the obligations refunded or deposited in irrevocable trust for the retirement thereof, either at maturity or on an authorized redemption date. Refunding obligations shall in all respects be authorized, issued, and secured in the manner provided in this section. Refunding obligations shall mature not later than five (5) years beyond the issue date for the obligations being refunded.
Frequently Asked Questions About Arkansas § 14-78-104
What does Arkansas Code of 1987 Annotated § 14-78-104 cover?
Section 14-78-104 ("Refunding obligations.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 14-78-104?
A common citation format is "Arkansas Code of 1987 Annotated § 14-78-104" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 14-78-104 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.