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§ 15-4-3216. Exemption from taxes — Eligible to secure deposits — Legal for investment

Home » US Law » 2020 Arkansas Code » Title 15 - Natural Resources and Economic Development » Subtitle 1 - Development Of Economic And Natural Resources Generally » Chapter 4 - Development Of Business And Industry Generally » Subchapter 32 - Arkansas Amendment 82 Implementation Act » § 15-4-3216. Exemption from taxes — Eligible to secure deposits — Legal for investment

§ 15-4-3216. Exemption from taxes — Eligible to secure deposits — Legal for investment

§ 15-4-3216. Exemption from taxes — Eligible to secure deposits — Legal for investment

  1. (a) All bonds issued under Arkansas Constitution, Amendment 82, and this subchapter and interest on the bonds are exempt from all state and local taxes.

  2. (b) The bonds shall be eligible to secure deposits of all public funds and shall be legal for investment of bank, fiduciary, insurance company, trust, and public funds.