§ 6-61-1012. Authority of board of trustees — Financing a project
The board of trustees is authorized and empowered to enter into the necessary contracts for the borrowing of all or any part of the funds that the board may determine will be required in connection with the financing of a project.
§ 6-61-1013. Authority of board of trustees — Refunding bonds
(a) The board of trustees has the power to and is authorized to refinance, in whole or in part, from time to time, its valid outstanding obligations issued under this subchapter and any amendments hereto. (b) (1) To that end, the board of trustees may issue refunding bonds. (2) This power may be exercised successively, […]
§ 6-61-1014. Authority of board of trustees — Use of available funds
The board of trustees is authorized to utilize any funds available to finance temporarily all or any part of the project and to make reimbursement of the funds from the proceeds of the sale of any bonds issued to finance a project permanently.
§ 6-61-1006. Signature on bonds
Bonds shall be executed by the manual or facsimile signature of the chair and secretary of the board of trustees of a technical college or a community college. In case an officer whose signature appears on the bonds shall cease to be an officer before the delivery date of the bonds, his or her signature […]
§ 6-61-1007. Interest on bonds
The bonds shall be registrable as to principal and interest, and the bonds may be in such form and denominations, may have such date or dates, may mature at such time or times not exceeding thirty (30) years from their date of issuance, may bear interest payable on such dates and at such rate or […]
§ 6-61-1008. Sale of bonds
(a) Bonds issued pursuant to this subchapter may be sold by negotiation or at public sale, as shall be determined by the board of trustees. (b) If the bonds are sold by negotiation, the board of trustees is authorized to enter a bond purchase agreement upon such terms regarding discount and underwriting fees and at […]
§ 6-61-1009. Liability
(a) The bonds shall be revenue bonds secured solely by the revenues pledged thereto, and in no event shall they be considered a debt for which the faith and credit of the State of Arkansas or any of its revenues are pledged. (b) No member of any board shall be personally liable for the notes […]
§ 6-61-1010. Authority of Arkansas Higher Education Coordinating Board
(a) The board of trustees shall not issue any bonds under the provisions of this subchapter unless, prior to the issuance of such notes or bonds, the board shall have obtained the advice of the Arkansas Higher Education Coordinating Board as to the economic feasibility of the particular project to be financed, in whole or […]
§ 6-61-1011. Authority of board of trustees — Issuance of bonds
(a) For the purpose of and in connection with the issuance of bonds, the board of trustees may execute such documents and enter into such agreements as it may deem necessary or proper in connection therewith. (b) (1) Any agreement entered into by the board of trustees shall be binding in all respects upon the […]
§ 6-61-1001. Title
This subchapter shall be known as and may be cited as the “Technical College and Community College Capital Improvement Act of 1993”.