(a) This subchapter shall be construed liberally. (b) The enumeration of any object, purpose, power, manner, method, and thing shall not be deemed to exclude like or similar objects, purposes, powers, manners, methods, and things. (c) This subchapter shall be the sole authority required for the accomplishment of the purposes of this subchapter.
There is established a full-time law school, to be operated in Little Rock, Pulaski County, Arkansas, under the control and direction of the University of Arkansas at Little Rock, to be known as the University of Arkansas at Little Rock William H. Bowen School of Law, and to offer classes of legal instruction both in […]
(a) As used in this subchapter: (1) “State Legal Education Fund” means the University of Arkansas at Fayetteville Legal Education Fund and the University of Arkansas at Little Rock Legal Education Fund, respectively, and the moneys credited to each of the funds shall be used in connection with the legal education program of the University […]
(a) All collections of the costs levied by this subchapter are specifically declared to be cash funds, restricted in their use and dedicated and to be used solely as provided in this subchapter. (b) The moneys shall not be deposited into the State Treasury but shall be deposited by the Board of Trustees of the […]
(a) All collections of the costs levied by this subchapter shall be used by the Board of Trustees of the University of Arkansas solely for purposes of legal education, including academic, clinical, and continuing education, operated under the auspices and academic administration of the University of Arkansas School of Law, including, without limitation, financing the […]
The Board of Trustees of the University of Arkansas is authorized and empowered to issue revenue bonds from time to time in sufficient principal amounts and to use the proceeds of the bonds, together with any other available funds, for defraying the costs of accomplishing the purposes set forth in § 6-64-606(a)(1), paying all incidental […]
(a) The bonds shall be authorized by authorizing resolution of the Board of Trustees of the University of Arkansas. (b) The authorizing resolution may contain or may provide for the execution with a bank or trust company within or without the State of Arkansas of a trust indenture which may contain any other terms, covenants, […]
(a) The bonds may be coupon bonds, payable to bearer, or may be registrable as to principal only or as to principal and interest, and may be made exchangeable for bonds of another denomination, may be in such form and denomination, may have such date or dates, may be stated to mature at such times, […]
(a) (1) The bonds shall be executed by the manual or facsimile signature of the chair of the Board of Trustees of the University of Arkansas and by the manual signature of the secretary of the board. (2) The coupons attached to the bonds shall be executed by the facsimile signature of the chair of […]
(a) It shall be plainly stated on the face of each bond that: (1) It has been issued under the provisions of this subchapter; (2) The bonds shall be obligations only of the Board of Trustees of the University of Arkansas; (3) In no event shall they constitute an indebtedness for which the faith and […]
(a) The bonds, principal and interest, shall be special obligations of the Board of Trustees of the University of Arkansas secured by and payable from a pledge of all or a portion of the collections of the costs levied by this subchapter. (b) The pledge of bonds shall constitute a prior pledge of, and claim […]
(a) Any authorizing resolution and trust indenture, together with this subchapter, shall constitute a contract between the Board of Trustees of the University of Arkansas and the holders and registered owners of the bonds. (b) The contract and all covenants, agreements, and obligations therein shall be promptly performed in strict compliance with the terms and […]
The principal and interest of bonds issued under this subchapter shall be exempt from all state, county, and municipal taxes, and the exemption shall include income, inheritance, and estate taxes.
The board of trustees of any retirement or pension system created by the General Assembly of the State of Arkansas, in its discretion, may invest its funds in bonds issued under this subchapter.
(a) The Board of Trustees of the University of Arkansas shall include necessary provisions in the authorizing resolution or trust indenture to require the deposit of the proceeds of each bond issue, except the accrued interest, which shall be deposited into the bond fund, into a special construction fund which shall be a trust fund […]
Subject to the provisions of any authorizing resolution or trust indenture securing payment of any bonds outstanding under this subchapter, collections of the costs levied by this subchapter in excess of the amounts necessary to provide for the payment of bonds, including principal and interest, may be used as determined by the Board of Trustees […]
So long as there are outstanding any bonds to which collections of the costs levied by this subchapter are pledged, the General Assembly may eliminate, modify, or otherwise change the costs levied by this subchapter. These changes may be made only on the condition that there is always maintained in effect and made available for […]
(a) Bonds may be issued for the purpose of refunding any bonds issued under this subchapter. (b) (1) Refunding bonds may either be sold or delivered in exchange for the bonds being refunded. (2) If sold, the proceeds may be either applied to the payment of the bonds being refunded or deposited in trust and […]
(a) The Board of Trustees of the University of Arkansas is authorized to employ architects to prepare plans, specifications, and estimates of cost for the construction of legal education facilities and to supervise and inspect the construction. (b) After the board has approved the plans and specifications prepared by the architect, it shall proceed to […]
The Board of Trustees of the University of Arkansas is directed and authorized to establish and operate at Little Rock, Arkansas, an evening division of its school of law as an expansion of its program of legal instruction, research, and extension.
