§ 19-9-201 - Authority of State Board of Finance. - Arkansas Statutes

19-9-201. Authority of State Board of Finance.

The State Board of Finance is authorized to:

(1) Take such action as may be provided by law for the issuance of refunding bonds for outstanding obligations to the State of Arkansas;

(2) Issue replacement bonds, either typewritten, printed, or lithographed, for lost, mislaid, destroyed, or stolen bonds of the State of Arkansas in the manner and within the limitations provided by 19-9-102;

(3) Take such action as may appear necessary or desirable to collect any funds which may have been in the hands of paying agents for a period of three (3) years or longer and to invest any funds so collected in the manner provided by 19-9-103 -- 19-9-105; and

(4) Take such other action, not inconsistent with law, as may appear necessary or desirable to:

(A) Retire the direct bonded debt of the State of Arkansas in an orderly manner;

(B) Safeguard state funds pledged for the payment of such obligations; and

(C) Maintain and improve the credit standing of the State of Arkansas.