The bonds shall be sold at not less than ninety cents (90¢) on the dollar. The proceeds derived therefrom shall be used exclusively for the purposes for which the bonds are issued. They may be sold at one (1) time or in parcels as funds are needed.
Sale of bonds — Use of proceeds
Ark. Code Ann. § 14-205-108, under Natural Gas Distribution Systems.
Ark. Code Ann. § 14-205-108