Arkansas § 6-64-616 - Bonds — Construction fund.
Full text of Arkansas Arkansas Code of 1987 Annotated § 6-64-616 — Bonds — Construction fund., with citation guidance and answers to common questions.
§ 6-64-616. Bonds — Construction fund.
The Board of Trustees of the University of Arkansas shall include necessary provisions in the authorizing resolution or trust indenture to require the deposit of the proceeds of each bond issue, except the accrued interest, which shall be deposited into the bond fund, into a special construction fund which shall be a trust fund in such depository as the board shall designate. The depository shall be a member of the Federal Deposit Insurance Corporation, and all moneys in excess of the amount insured by the Federal Deposit Insurance Corporation must be secured by direct obligations of the United States unless invested in securities specified by the board. The moneys in the construction fund shall be used solely for the purposes set forth in § 6-64-606.
Frequently Asked Questions About Arkansas § 6-64-616
What does Arkansas Code of 1987 Annotated § 6-64-616 cover?
Section 6-64-616 ("Bonds — Construction fund.") 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 § 6-64-616?
A common citation format is "Arkansas Code of 1987 Annotated § 6-64-616" (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 § 6-64-616 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.