2010 Arkansas Code
Title 6 - Education
Subtitle 2 - Elementary And Secondary Education Generally
Chapter 20 - Finances
Subchapter 26 - Arkansas Public School Academic Facilities Financing Act of 2007
§ 6-20-2602 - Definitions.

6-20-2602. Definitions.

As used in this subchapter:

(1) "Bonds" means any bonds, notes, interim certificates, or other evidences of indebtedness;

(2) "Commission" means the Commission for Arkansas Public School Academic Facilities and Transportation or its successor;

(3) "Debt service" means principal, interest, redemption premiums, if any, and trustee's fees, paying agent's fees, dissemination agent's fees, and like servicing fees relative to a bond;

(4) "Develop" means to plan, design, construct, acquire by purchase, own, rehabilitate, lease as lessor or lessee, enter into lease-purchase agreements with respect to, or install or equip any lands, buildings, improvements, machinery, equipment, or other properties of whatever nature, real, personal, or mixed;

(5) "Federal Deposit Insurance Corporation" means the Federal Deposit Insurance Corporation or its successor that insures commercial banks;

(6) "General revenues of the state" means the revenues described and enumerated in 19-6-201 of the Revenue Classification Law, 19-6-101 et seq., or in any successor law;

(7) "Nationally recognized rating agency" means Moody's Investors Service, Inc., Standard & Poor's, Fitch Ratings, or any other nationally recognized rating agency approved by the State Investing Office; and

(8) "State Investing Office" means the Treasurer of State for the investment of any funds established on the books of the State Treasury, and the commission for the investment of any funds held outside the State Treasury.