Arkansas § 15-5-314 - Refunding bonds.
Full text of Arkansas Arkansas Code of 1987 Annotated § 15-5-314 — Refunding bonds., with citation guidance and answers to common questions.
§ 15-5-314. Refunding bonds.
Bonds may be issued for the purpose of refunding, either at maturity or in advance of maturity, any: Bonds issued under this subchapter; or Bonds or other obligations issued or incurred by a state agency or a political subdivision to finance a purpose for which the Arkansas Development Finance Authority is authorized to issue bonds under this subchapter. The refunding bonds may either be sold or delivered in exchange for the bonds being refunded. If sold, the proceeds may either be applied to the payment of the bonds being refunded or deposited in trust and there maintained in cash or investments for the retirement of the bonds being refunded, as shall be specified by the authority and the authorizing resolution or trust indenture securing the refunding bonds. The authorizing resolution or trust indenture securing the refunding bonds may provide that the refunding bonds shall have the same security for their payment as provided for the bonds being refunded. Refunding bonds shall be sold and secured in accordance with the provisions of this subchapter pertaining to the sale and security of the bonds.
Frequently Asked Questions About Arkansas § 15-5-314
What does Arkansas Code of 1987 Annotated § 15-5-314 cover?
Section 15-5-314 ("Refunding bonds.") 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 § 15-5-314?
A common citation format is "Arkansas Code of 1987 Annotated § 15-5-314" (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 § 15-5-314 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.