§ 27-90-208 - Sale. - Arkansas Statutes

27-90-208. Sale.

(a) Bonds issued under this subchapter may be sold at public or private sale, as determined by the State Highway Commission.

(b) If sold at public sale, the bonds shall be sold on electronic or sealed bids, and notice of the sale shall be published once in a newspaper published in the City of Little Rock, and having a general circulation throughout the State of Arkansas, at least twenty (20) days prior to the date of sale.

(c) (1) In either case, the bonds may be sold at a price as the commission may accept, including sale at a premium or a discount.

(2) In no event shall any bid or price be accepted which results in an interest cost exceeding that permitted by law.