Arkansas § 8-15-116 - Bonds.
Full text of Arkansas Arkansas Code of 1987 Annotated § 8-15-116 — Bonds., with citation guidance and answers to common questions.
§ 8-15-116. Bonds.
A property assessed energy improvement district may: Issue bonds to provide the PACE program loans authorized by this chapter; and Create a debt reserve fund of legally available moneys from nonstate sources as partial security for the bonds. Bonds issued under this chapter and income from the bonds, including any profit made on the sale or transfer of the bonds, are exempt from taxation in this state. Bonds issued under this chapter shall: Be authorized by a resolution of the board of directors of a district. The authorizing bond resolution may contain any terms, covenants, and conditions that the board deems to be reasonable and desirable; and Have all of the qualities of and shall be deemed to be negotiable instruments under the laws of the State of Arkansas.
Frequently Asked Questions About Arkansas § 8-15-116
What does Arkansas Code of 1987 Annotated § 8-15-116 cover?
Section 8-15-116 ("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 § 8-15-116?
A common citation format is "Arkansas Code of 1987 Annotated § 8-15-116" (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 § 8-15-116 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.