Statutes > Arkansas Statutes > Title 15 - Natural Resources and Economic Development > Subtitle 1 - Development Of Economic And Natural Resources Generally > Chapter 4 - Development Of Business And Industry Generally > Subchapter 4 - Jobs Creation by Stimulating Small Business Growth Act of 1985 > § 15-4-408 - Prerequisites to issuance.

§ 15-4-408 - Prerequisites to issuance.

15-4-408. Prerequisites to issuance.

Before the Arkansas Economic Development Council shall issue its revenue bonds, the commission, acting through the Division of Minority Business Enterprise of the Arkansas Economic Development Commission, shall have received from small business investment companies in this state binding commitments to make business loans to small business concerns, as defined in this subchapter, to sell small business loans to the division or to engage in specific small business concern loan activities, as authorized in this subchapter.