§ 6-62-707 - Bonds -- Authorization -- Amount outstanding.
6-62-707. Bonds -- Authorization -- Amount outstanding.
The Arkansas Development Finance Authority, the "authority", on behalf of the State of Arkansas is hereby authorized to issue bonds and to have bonds outstanding which shall be general obligations of the State of Arkansas, to be known as Arkansas college savings general obligation bonds, the "bonds", in the total principal amount of not exceeding three hundred million dollars ($300,000,000), for the purposes set forth herein.