§ 15-3-121 - Use of investment fund generally.
15-3-121. Use of investment fund generally.
The Arkansas Science and Technology Authority may use the investment fund and the income thereof as follows:
(1) To carry out the purposes of this chapter through investment in qualified securities and through the forms of financial assistance authorized by this chapter, including, but not limited to, the following:
(A) Loans;
(B) Equity investments;
(C) Leaseholds;
(D) Management or consultant service agreements;
(E) Loans with warrants attached that are beneficially owned by the authority;
(F) Loans with warrants attached that are beneficially owned by a party other than the authority; and
(G) (i) Any other contractual arrangement in which the authority is providing scientific and technological services to any federal, state, county, or municipal agency, or to any individual, corporation, firm, association, or any other entity involving science and technology.
(ii) In connection with the provision of any form of financial assistance, the authority may enter into royalty agreements with an enterprise;
(2) To pay all or a portion of the operating expenses of the authority; and
(3) To invest in such other investments as are lawful for fiduciaries in Arkansas.