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2017 Arkansas Code
Title 6 - Education
Subtitle 2 - Elementary and Secondary Education Generally
Chapter 20 - Finances
Subchapter 9 - Revolving Loan Program -- State Board of Education Certificates
§ 6-20-904. Obligations -- Security -- Payment
Universal Citation: AR Code § 6-20-904 (2017)
- (a) The certificates shall be obligations of the State Board of Education only, secured by a pledge of the collateral and payable from the proceeds realized from the collateral, as specified in § 6-20-905.
- (b) The certificates shall not be obligations of the State of Arkansas and shall not be secured by a pledge of any revenues belonging to the State of Arkansas.
- (c) It shall be stated on the face of each certificate that it has been issued under this subchapter.
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