Statutes > Arkansas Statutes > Title 15 - Natural Resources and Economic Development > Subtitle 2 - Land And Water Resources Generally > Chapter 20 - General Provisions > Subchapter 13 - Arkansas Water, Waste Disposal, and Pollution Abatement Facilities Financing Act of 2007 > § 15-20-1305 - Purpose of bonds.

§ 15-20-1305 - Purpose of bonds.

15-20-1305. Purpose of bonds.

Bonds issued under this subchapter shall be issued to finance on a temporary or permanent basis or to refinance and develop one (1) or more projects, and the proceeds of the bonds shall be applied to the payment of project costs and the costs and expenses of issuance of the bonds, or in connection with a project refinancing, the repayment of indebtedness incurred to pay project costs, or for refunding of bonds as provided in 15-20-1313.