§ 23-46-202 - Offices. - Arkansas Statutes

23-46-202. Offices.

(a) The State Bank Department may own, acquire, construct, reconstruct, extend, equip, improve, maintain, operate, lease, contract concerning, or otherwise deal in and with any lands, improvements, buildings, furniture, furnishings, machinery, and personal property of any and every nature whatever, that can be used by the department for suitable offices for the business of the department, with the necessary conveniences for the transaction of business and the safekeeping of the records of the department.

(b) The department is authorized and empowered to obtain the necessary funds to accomplish the purposes stated in subsection (a) of this section from any source or sources necessary, including without limitation contracting with the Arkansas Building Authority or the Arkansas Development Finance Authority to provide for the issuance of bonds under the State Agencies Facilities Acquisition Act of 1991, 22-3-1401 et seq., or the Arkansas Development Finance Authority Act, 15-5-101 et seq., 15-5-201 et seq., and 15-5-301 et seq.

(c) (1) Bonds and interest on the bonds issued under this section shall be payable solely from and secured by a pledge of the fees and revenues deposited into an account designated as the State Bank Department Building Fund in accordance with 23-46-209(a).

(2) The pledged fees and revenues are specifically declared to be cash funds, restricted in their use, and dedicated solely for the purposes set forth in this subchapter.

(3) The Arkansas Development Finance Authority is authorized and empowered to make a pledge of the fees and revenues in the resolution authorizing the issuance of the bonds under this section.