§ 6-62-301. Construction of subchapter
This subchapter shall be liberally construed to effectuate the purposes thereof.
§ 6-62-302. Building construction, purchase, etc., authorized
(a) Subject to and in accordance with the terms of this subchapter, the boards of trustees of the University of Arkansas, Arkansas State University, University of Central Arkansas, Henderson State University, Arkansas Tech University, and Southern Arkansas University, respectively, are authorized and empowered as public agencies of the State of Arkansas to: (1) Construct buildings, […]
§ 6-62-303. Financing authority
The board 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 the projects.
§ 6-62-304. Temporary financing authorized
The board is authorized to utilize any funds available to temporarily finance all or part of the projects and to make reimbursement of the funds from the proceeds of the sale of any notes or bonds issued to permanently finance the projects.
§ 6-62-305. Bonds or notes — Authorization to issue — Pledge of revenues, funds, etc
(a) In evidence of any loan of funds, the board of trustees is authorized and empowered to issue its negotiable interest-bearing notes or bonds with a specific pledge, for the payment of the principal and interest thereof, and the payment of agents’ fees only, all or any part of the following: (1) The gross tolls, […]
§ 6-62-306. Bonds or notes — Issuance on advice of Arkansas Higher Education Coordinating Board
(a) The boards of trustees of the University of Arkansas, University of Central Arkansas, Henderson State University, Arkansas State University, Arkansas Tech University, and Southern Arkansas University, hereinafter referred to as the “board of the institution involved”, shall not issue any notes or bonds under the provisions of this subchapter for any of the purposes […]
§ 6-62-307. Bonds or notes — Execution
(a) The notes or bonds shall be executed by the president or chair and secretary of the board. (b) The coupon attached to the bonds may be executed by the facsimile signature of the president or chair. (c) In case any of the officers whose signatures appear on the bonds or coupons shall cease to […]
§ 6-62-308. Bonds or notes — Terms and conditions
(a) The notes or bonds shall be payable at such time or times and at such place or places, shall be in such form and denominations, may be subject to such terms of redemption, with or without a premium, shall bear such rate or rates of interest, shall be payable annually or semiannually, and shall […]
§ 6-62-309. Bonds or notes — Liability
(a) The bonds or notes shall be general obligations only of the board of trustees, 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 […]
§ 6-62-310. Bonds or notes — Related agreements authorized
(a) For the purpose of obtaining any loan or carrying out any condition imposed by the original purchaser of the notes or bonds in connection with any loan, the board of trustees may execute such documents and enter into such agreements as it may deem necessary or proper in connection therewith, including, but without limiting […]
§ 6-62-311. Rents, tolls, fees, etc. — Rules authorized
A board of trustees is further authorized and empowered to fix the rents, tolls, fees, other charges, activity fees, and gate receipts of athletic contests and to make and to enforce the rules with reference to or in connection with any building or structure authorized to be constructed, reconstructed, enlarged, repaired, or equipped and with […]
§ 6-62-312. Valid outstanding obligations — Refinancing or refunding — Cancellation
(a) A board of trustees of a state-supported institution of higher education may refinance, in whole or in part, from time to time, its valid outstanding obligations issued under Acts 1933, No. 47 [repealed], or Acts 1939, No. 14 [repealed], or issued under this subchapter or any other law for the purpose of financing and […]
§ 6-62-313. State agency for participation in federal grant programs
(a) The Arkansas Higher Education Coordinating Board is designated as the state agency of the State of Arkansas for the purpose of participating in the grant program under 20 U.S.C. § 1132a et seq., as enacted and now existing or as subsequently amended, supplemented, or implemented, which is herein referred to as the “federal act”. […]
§ 6-62-314. Construction project exemption
The following state-supported institutions of higher education shall be exempt as allowed by § 19-4-1415(b)(5) for construction projects exceeding five million dollars ($5,000,000) if they have adopted policies and procedures in compliance with state law involving the awarding and oversight of the contracts for design and construction services: (1) Henderson State University; (2) Southern Arkansas […]