Ark. Code § 15-4-602

Current with legislation from 2024 Fiscal and Special Sessions.

Section 15-4-602 - Definitions

As used in this subchapter:

(1) "Act No. 9 bonds" means revenue bonds issued in accordance with the provisions of the Municipalities and Counties Industrial Development Revenue Bond Law, § 14-164-201 et seq.;

(2) "ADFA bonds" means revenue bonds and direct loans, including bond anticipation loans, issued by the Arkansas Development Finance Authority in accordance with the Arkansas Development Finance Authority Act, §§ 15-5-101 - 15-5-106, 15-5-201 - 15-5-211, 15-5-213, and 15-5-301 - 15-5-316;

(3) "Amortization payments" means periodic, which may be monthly, semiannual, annual, etc., payments of interest, and payments of principal, whether the principal is payable in installments or otherwise, including principal required to be prepaid upon the happening of certain events, as required by an Act No. 9 bond or Arkansas Development Finance Authority indenture or resolution; and

(4) "User" means the lessee or other principal user of the industrial project to be financed, in whole or in part, with the proceeds of Act No. 9 bonds or ADFA bonds.

Ark. Code § 15-4-602

Acts 1967, No. 173, § 2; A.S.A. 1947 § 9-560; Acts 1987 (1st Ex. Sess.), No. 39, § 1; 1997, No. 778, § 1; 2001, No. 1032, § 1.