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2018 Arkansas Code
Title 27 - Transportation
Subtitle 5 - Highways, Roads, and Streets
Chapter 64 - General Provisions
Subchapter 2 - Arkansas Highway Financing Act of 1999
§ 27-64-204. Authorization -- Purposes
Universal Citation: AR Code § 27-64-204 (2018)
- The State Highway Commission is hereby authorized, subject to the approval of the voters in a statewide election, to issue bonds to be known as State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds in a total principal amount not to exceed five hundred seventy-five million dollars ($575,000,000) for the purpose of:
(1) Accelerating certain highway improvement projects already underway or scheduled;
(2) Funding new highway improvement projects;
(3) Financing the restoration, reconstruction, and renovation of highway improvements within the State of Arkansas; and
(4) Paying the costs of issuance of the bonds, including the costs of bond issuance or other credit enhancement.
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