§ 11-10-1010. Employment of professionals
Under § 15-5-212, the Arkansas Development Finance Authority may employ and retain any professionals that the Arkansas Development Finance Authority deems necessary to accomplish the issuance and sale of the Arkansas Unemployment Trust Fund Bonds, including without limitation legal counsel, financial advisors, underwriters, trustees, paying agents, and remarketing agents.
§ 11-10-1011. Sources of repayment
(a) The Arkansas Unemployment Trust Fund Bonds shall be payable from the designated revenues. (b) (1) The unemployment obligation assessment shall be collected until the end of the quarter immediately following the repayment of all bonds authorized under this subchapter. (2) The unemployment obligation assessment shall not be collected until the qualified voters of the […]
§ 11-10-1012. Investment of proceeds
(a) Proceeds from the sale of the bonds shall be deposited into trust funds or accounts established under the resolution or trust indenture authorizing or securing the bonds to accomplish the purposes of this subchapter in amounts or portions as set forth in the resolution or trust indenture securing the bonds. (b) (1) The holder […]
§ 11-10-803. Withdrawals
(a) (1) Money requisitioned from this state’s account in the federal Unemployment Trust Fund shall be used exclusively for the payment of benefits and for refunds from the Unemployment Trust Fund authorized by this chapter, except that money credited to this state’s account pursuant to section 903 of the Social Security Act shall be used […]
§ 11-10-1013. Refunding bonds
(a) The Arkansas Development Finance Authority may issue the Arkansas Unemployment Trust Fund Bonds for the purpose of refunding bonds previously issued under this subchapter if the total amount of bonds outstanding after the refunding is completed does not exceed the total amount authorized by this subchapter. (b) (1) To the extent that refunding bonds […]
§ 11-10-804. Federal Unemployment Trust Fund — Termination
(a) The provisions of this subchapter, to the extent that they relate to the federal Unemployment Trust Fund, shall be operative only so long as the federal Unemployment Trust Fund continues to exist and so long as the United States Secretary of the Treasury continues to maintain for this state a separate book account of […]
§ 11-10-1014. Liability
Officers, officials, employees, and members of the Board of Directors of the Arkansas Development Finance Authority are not liable personally for any reason arising from the issuance of bonds under this subchapter unless he or she acts with corrupt intent.
§ 11-10-901. Creation — Administrator — Authority
(a) (1) The Director of the Division of Workforce Services is assigned responsibility for the administration of the State New Hire Registry. (2) The director shall hire an administrator of the State New Hire Registry who shall serve at the pleasure of the director. (b) (1) The administrator shall compile a state registry of newly […]
§ 11-10-1015. Tax exemption
(a) All Arkansas Unemployment Trust Fund Bonds issued under this subchapter and interest on the bonds shall be exempt from all taxes of the State of Arkansas, including income, inheritance, and property taxes. (b) The bonds shall be eligible to secure deposits of all public funds and shall be legal for investment of municipal, county, […]
§ 11-10-902. Reporting requirements — Enforcement of child support obligations — Confidentiality — Definitions
(a) As used in this section: (1) “Administrator” means the administrator of the State New Hire Registry; (2) “Employee” means an individual who is an employee as defined in Chapter 24 of the Internal Revenue Code of 1986 but does not include an employee of a federal or state agency performing intelligence or counterintelligence operations […]