§ 15-4-3021 - Vote on issuance of bonds by qualified electors. - Arkansas Statutes

15-4-3021. Vote on issuance of bonds by qualified electors.

(a) If a majority of the qualified electors voting on the question vote for the issuance of the bonds, the Arkansas Development Finance Authority shall proceed with the sale and the issuance of the bonds as provided in this subchapter.

(b) If a majority of the qualified electors voting on the question vote against the issuance of the bonds, none of the bonds authorized by this subchapter shall ever be sold or issued.