Arkansas § 15-5-906 - Security for bonds.
Full text of Arkansas Arkansas Code of 1987 Annotated § 15-5-906 — Security for bonds., with citation guidance and answers to common questions.
§ 15-5-906. Security for bonds.
The Arkansas Natural Resources Commission and, with the approval of the commission, the Arkansas Development Finance Authority may use the moneys in the Construction Assistance Revolving Loan Fund, excluding the State Grants Account, and use the assets acquired with moneys in the fund to secure the payment of the principal of and premium, if any, and interest on bonds issued by the commission or the authority if the proceeds of the bonds are deposited into the Construction Assistance Revolving Loan Fund Account and pay the principal of and premium, if any, and interest on and pay costs incurred in connection with bonds issued by the commission or the authority if proceeds of the bonds are deposited into the Construction Assistance Revolving Loan Fund Account. Subject to § 15-5-901(c), the commission and, with the approval of the commission, the authority may pledge the Construction Assistance Revolving Loan Fund Account, excluding the State Grants Account, and pledge the assets acquired with moneys in the Construction Assistance Revolving Loan Fund Account to secure the payment of the principal of and premium, if any, and interest on bonds issued by the commission or the authority if proceeds of the bonds are deposited into the Drinking Water State Revolving Loan Fund Account established by § 15-22-1102, consistent with applicable federal law and pay the principal of and premium, if any, and interest on and costs incurred in connection with bonds issued by the commission or the authority if proceeds of the bonds are deposited into the Drinking Water State Revolving Loan Fund Account established by § 15-22-1102, consistent with applicable federal law. Nothing in subsections (a) and (b) of this section shall be deemed to adversely affect pledges made by the authority to secure the payment of the principal of and premium, if any, and interest on bonds issued by the authority before July 1, 2003, so long as the bonds are outstanding. All accounts within the fund or subaccounts within the accounts established in § 15-5-901 pledged to secure the payment of the principal of and premium, if any, and interest on bonds issued by the authority before July 1, 2003, shall be maintained at the authority so long as the bonds are outstanding.
Frequently Asked Questions About Arkansas § 15-5-906
What does Arkansas Code of 1987 Annotated § 15-5-906 cover?
Section 15-5-906 ("Security for 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 § 15-5-906?
A common citation format is "Arkansas Code of 1987 Annotated § 15-5-906" (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 § 15-5-906 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.