§ 15-5-418 - Execution of bonds and coupons -- Temporary notes or bonds.
15-5-418. Execution of bonds and coupons -- Temporary notes or bonds.
(a) The bonds shall be executed by the facsimile or manual signature of the Chair of the Arkansas Development Finance Authority and by the facsimile or manual signature of the Secretary of the Arkansas Development Finance Authority.
(b) Interest coupons attached to the bonds shall be executed with the facsimile signature of the chair.
(c) Delivery of the bonds and coupons so executed shall be valid, notwithstanding any change in persons holding such offices occurring after the bonds have been executed.
(d) Temporary notes or bonds conforming generally to the provisions of this subchapter, exchangeable for definitive bonds, may be issued in the discretion of the Arkansas Development Finance Authority.