§ 15-5-311 - Execution. - Arkansas Statutes

15-5-311. Execution.

(a) The bonds shall be executed by manual or facsimile signature of the Chair of the Board of Directors of the Arkansas Development Finance Authority and the manual or facsimile signature of the President of the Arkansas Development Finance Authority or any other director or officer authorized to do so by resolution of the Board of Directors of the Arkansas Development Finance Authority.

(b) In case any of the officers whose signatures appear on the bonds or coupons shall cease to be such officers before delivery of the bonds or coupons, their signatures, nevertheless, shall be valid and sufficient for all purposes.

(c) The authority shall adopt and use a seal in the execution and issuance of the bonds, and each bond shall be impressed or imprinted with the seal of the authority.