§ 27-76-605 - Sale. - Arkansas Statutes

27-76-605. Sale.

(a) The bonds may be sold in such manner, either at public or private sale, and upon such terms as the members of the regional mobility authority shall determine to be reasonable and expedient for effectuating the purposes of the regional mobility authority.

(b) The bonds may be sold at a price that the board of directors of the regional mobility authority determine to be in the best interest of the regional mobility authority, including sale at discount.

(c) (1) The bonds shall be executed by manual or facsimile signature of the chair of the regional mobility authority and the manual or facsimile signature of the secretary of the regional mobility authority or any other officer of the regional mobility authority authorized to do so by resolution of the board of directors.

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

(d) Each bond shall be impressed or imprinted with the seal of the regional mobility authority.