§ 14-362-201 - Definitions. - Arkansas Statutes

14-362-201. Definitions.

As used in this subchapter:

(1) "Authority" means any authority created under the provisions of 14-362-103;

(2) "Bond" means a revenue bond;

(3) "Contract for effective interest rates" means any contract to achieve a desirable effective interest rate, including, but not limited to:

(A) An investment contract;

(B) A funding agreement;

(C) An interest rate swap agreement;

(D) A currency swap agreement;

(E) A forward payment conversion agreement;

(F) A futures contract;

(G) A contract providing for payments based on levels of or changes in interest rates;

(H) A contract to exchange cash flows or a series of payments; or

(I) A contract, including options, puts or calls, issued to hedge payment rate, spread, or similar interest rate exposure; and

(4) "Revenue bond" means a revenue bond issued by, or on behalf of, an authority under the Arkansas Constitution and under an act of the General Assembly, including all bonds, notes, certificates, or other instruments or evidences of indebtedness which constitute a revenue bond as defined in Arkansas Constitution, Amendment 65.