Bill Sets Guidelines for Bonds Used to Lure Firms to Arkansas

Albanese, Elizabeth
February 2005
Bond Buyer;2/24/2005, Vol. 351 Issue 32077, p36
Trade Publication
The article informs that an Arkansas state senator on Tuesday filed legislation that outlines the rules for issuance of debt from a $500 million authorization approved by voters in November. In November, Arkansas voters approved Amendment 82 to the state's constitution. The measure gives the Arkansas Development Finance Authority the ability to issue a total of up to $500 million of general obligation bonds to finance projects that would entice major employers to build facilities in Arkansas. The bonds could be issued in either fixed rate or variable-rate mode, with structures determined by market demand. Insurance, repayment agreements, and letters of credit could he utilized by the ADFA to boost the credit quality of the debt.


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