§ 14-362-110 - Issuance of revenue bonds -- Authorization. - Arkansas Statutes

14-362-110. Issuance of revenue bonds -- Authorization.

(a) Authorities are authorized to use any available revenues for the accomplishment of the purposes and the implementation of the powers authorized by this chapter, including the proceeds of revenue bonds issued from time to time pursuant to the provisions of this chapter, either alone or together with other available funds and revenues.

(b) The amount of each issue of bonds issued may be sufficient to pay:

(1) The costs of accomplishing the purposes for which it is being issued;

(2) The cost of issuing the bonds;

(3) The amount necessary for a reserve, if it is determined to be desirable in favorably marketing the bonds;

(4) The amount, if any, necessary to provide for debt service on the bonds until revenues for the payment thereof are available; and

(5) Any other costs and expenditures of whatever nature incidental to the accomplishment of the specified purposes.