Arkansas § 15-5-605 - Special rules for allocation of volume cap for multifamily residential housing bonds.
Full text of Arkansas Arkansas Code of 1987 Annotated § 15-5-605 — Special rules for allocation of volume cap for multifamily residential housing bonds., with citation guidance and answers to common questions.
§ 15-5-605. Special rules for allocation of volume cap for multifamily residential housing bonds.
Notwithstanding § 15-5-604(c), the priority allocation of volume cap to multifamily residential housing bonds, whether the bonds are issued by the Arkansas Development Finance Authority or by any other issuer, shall not be determined based solely on the date of the reservation filing. Multifamily residential housing bonds shall be granted a priority based upon the decision of the authority in accordance with rules establishing criteria to determine priority for multifamily residential housing bonds. The rules may provide for the priority of the allocation to be based upon: The need for multifamily residential housing in the particular area of the state in which the project is to be located; The characteristics of the proposed project; and Any other factors as determined necessary by the authority. The authority shall promulgate rules to establish criteria to determine priority for multifamily residential housing bonds in accordance with the Arkansas Administrative Procedure Act, § 25-15-201 et seq.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 15-5-605
What does Arkansas Code of 1987 Annotated § 15-5-605 cover?
Section 15-5-605 ("Special rules for allocation of volume cap for multifamily residential housing 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 § 15-5-605?
A common citation format is "Arkansas Code of 1987 Annotated § 15-5-605" (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 § 15-5-605 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.