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Ark. Code Ann. § 15-4-3003 Definitions
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(1) As used in this subchapter:(1) “Authority” means the Arkansas Development Finance Authority and any successor agency or department;(2) “Bonds” means bonds issued under this subchapter;(3) “Commission” means the Arkansas Economic Development Commission;(4) “Debt service” means…
Ark. Code Ann. § 15-4-3004 Authority to issue bonds
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(a) (1) The Arkansas Development Finance Authority, exercising an essential public function as the State of Arkansas's bond-issuing authority, is authorized by this subchapter to issue bonds to fund superprojects.(2) The authority shall be responsible for developing the bond fina…
Ark. Code Ann. § 15-4-3005 State of Arkansas Economic Development General Obligation Bonds
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(a) The Arkansas Development Finance Authority may issue bonds of the State of Arkansas, to be known as “State of Arkansas Economic Development General Obligation Bonds”, in total principal amount not to exceed four hundred million dollars ($400,000,000) for the purposes authoriz…
Ark. Code Ann. § 15-4-3006 Qualification as superproject
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(a) (1) To qualify as a superproject, the investment and job creation requirements must be attained no later than the eighth year after the project first begins operations unless the eight-year period is extended by the Arkansas Economic Development Commission.(2) The commission …