reglab/housing_qa huggingface dataset:
AR Code § 19-9-101 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 9 - Public Obligations|Subchapter 1 - General Provisions|§ 19-9-101. Form of bonds that may be issued — Definitions

 (a) In the case of authorizations under any existing law for the State of Arkansas, any board, commission, or agency of the State of Arkansas, any county, any municipality, or any improvement district to issue bonds or coupon bonds, the authorization shall be deemed to, and is extended to, include the authority to issue bonds that may be either coupon bonds, payable to bearer, or may be registrable as to principal only with interest coupons, or may be registrable as to both principal and interest without coupons. These bonds may be exchanged for bonds of another denomination, which bonds of another denomination may in turn be either coupon bonds payable to bearer or coupon bonds registrable as to principal only, or bonds registrable as to both principal and interest without coupons, as the governing body shall determine.  (b) As used in this section, unless the context otherwise requires:  (1) “Improvement district” means all improvement districts, drainage districts, levee districts, and other special districts formed for the purpose of constructing or maintaining a local improvement to be financed by the assessment of benefits upon the real property in the district and the levy of a tax on those assessed benefits;  (2) “Municipality” means any city of the first class, city of the second class, or incorporated town; and  (3) “Governing body” means the board of commissioners, city council, county court, board of trustees, or other person or body given the power and duty by the state under existing law to issue bonds by the state, any board, commission, or agency of the state, any county, any municipality, or any improvement district.    (c) This section is to be liberally construed, and the authority set forth in it is cumulative and supplemental to all other provisions of law authorizing the issuance of registrable bonds.
AR Code § 19-9-102 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 9 - Public Obligations|Subchapter 1 - General Provisions|§ 19-9-102. Replacement of lost, destroyed, or stolen bonds

 (a) In cases where any valid bond, note, interest coupon, or evidence of indebtedness, hereinafter called “instrument”, issued by the State of Arkansas, or any of its departments, agencies, or political subdivisions, including, but not limited to, school districts and improvement districts of all kinds, becomes lost, mislaid, destroyed, or stolen, the body which issued the instrument, or its successor, shall issue and deliver to the one owning the right, title, and interest to and in the instrument a replacement instrument, but only on the filing with the body of:  (1) An affidavit reciting ownership of all right, title, or interest in and to the lost, mislaid, destroyed, or stolen instrument and giving its name, the name of the board, commission, or body which issued it, the date of maturity, the denomination and number and that of any lost, mislaid, destroyed, or stolen interest coupon appertaining thereto, and briefly describing the circumstance of such loss, mislaying, destruction, or theft; and  (2) A bond in double the face amount of such replacement, including any interest coupons affixed thereto, with a surety company licensed to do business in Arkansas as surety thereon, conditioned that if the principal, the heirs, legal representatives, successors, or assigns of the principal, or any of them, shall, in case the instrument so lost, mislaid, destroyed, or stolen be found or come into the hands or power of any of them, or into the hands, custody, or power of any other person, deliver, or cause it to be delivered unto the obligor for cancellation, and also shall at all times indemnify and save harmless the obligor from and against any and all loss, claims, actions, suits, damages, charges, or expenses of any nature and character by reason of the lost, mislaid, destroyed, or stolen instrument, or the issuance of a replacement in lieu thereof, or the paying or crediting as prescribed of the face amount of the lost, mislaid, destroyed, or stolen instrument without the surrender thereof, then the obligation shall be void, otherwise to remain in full force and effect.    (b) Nothing in this section shall be construed to limit or abridge any defense which the obligor may have against the lost, mislaid, destroyed, or stolen instrument; nor shall anything in this section waive any provision of any statute of limitations.
AR Code § 19-9-103 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 9 - Public Obligations|Subchapter 1 - General Provisions|§ 19-9-103. Paying agents to remit funds after three years

 (a) Paying agents, with whom the state or any political subdivision of the state has deposited or shall deposit funds for the payment of obligations of the state or of any political subdivision of the state, are required to remit to the Treasurer of State all such funds which have been in their hands for a period of three (3) years.  (b) The Treasurer of State shall invest these funds from paying agents in government or state bonds which he or she shall hold in trust for the holders of the obligations for the payment of which the funds were deposited with the paying agents.  (c) On the presentation to the Treasurer of State of any valid obligation that was payable out of any fund remitted to him or her by a paying agent, the Treasurer of State shall sell the bonds purchased with such fund and redeem the obligation.
AR Code § 19-9-104 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 9 - Public Obligations|Subchapter 1 - General Provisions|§ 19-9-104. Bonds held five years

 After holding any government or state bond purchased by him or her for a period of five (5) years, the Treasurer of State shall liquidate the bond and place the proceeds to the credit of the General Revenue Fund Account of the State Apportionment Fund, or remit them to the political subdivision of the state to which they belong, as the case may be.
AR Code § 19-9-105 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 9 - Public Obligations|Subchapter 1 - General Provisions|§ 19-9-105. Pay until barred

 Every bond issued by the state, or by any political subdivision thereof, shall be paid by the state or by the political subdivision unless it is barred by the statute of limitations.
AR Code § 19-9-201 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 9 - Public Obligations|Subchapter 2 - State Obligations|§ 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.
AR Code § 19-9-202 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 9 - Public Obligations|Subchapter 2 - State Obligations|§ 19-9-202. Authorized paying agents

 (a) The agents of the state for payment of the maturing principal of, and interest on, its direct obligation bonds, irrespective of any other legislation on the subject, shall be for all obligations a bank located in this state, to be designated by the State Board of Finance.  (b) Fees of the paying agents shall be as follows:  (1) For payment of interest, one-fourth of one percent (¼ of 1%) of the total amount paid; and  (2) For payment of principal of each maturity, the aggregate thereof to be calculated as follows, with each paying agent to receive its respective proportion based upon the amount paid by it: one-tenth of one percent (1/10 of 1%) on the first one hundred thousand dollars ($100,000) paid, one-twentieth of one percent (1/20 of 1%) on the next nine hundred thousand dollars ($900,000) paid, one-thirtieth of one percent (1/30 of 1%) on the next four million dollars ($4,000,000) paid, and one-fortieth of one percent (1/40 of 1%) on all amounts paid in excess of five million dollars ($5,000,000).    (c) In the event any agent so designated shall refuse to accept the paying agency or in the event any agent accepting this designation shall thereafter resign or fail to furnish service satisfactory to the board, the board shall name another commercial bank as successor thereto.  (d) Paying agents shall render monthly statements of account to, and in such form as shall be required by, the Treasurer of State. With those monthly statements, the paying agent shall transmit all paid and cancelled obligations.
AR Code § 19-9-203 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 9 - Public Obligations|Subchapter 2 - State Obligations|§ 19-9-203. Registration

 The Treasurer of State is designated as the official registrar of all direct obligation bonds of this state. Upon the application of the holder of any such obligations, the Treasurer of State shall register them as to principal only or as to both principal and interest. Thereafter, upon similar application, he or she shall discharge such obligations from registration.
AR Code § 19-9-204 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 9 - Public Obligations|Subchapter 2 - State Obligations|§ 19-9-204. Retirement of bonds before maturity

 (a) Whenever appropriations and funds are available, the State Board of Finance is authorized and empowered to purchase direct obligations of this state in advance of maturity for the purpose of retirement under the procedure set forth in this subchapter.  (b) All obligations purchased as prescribed, and the unmatured interest coupons attached thereto, shall be cancelled by perforation.
AR Code § 19-9-205 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 9 - Public Obligations|Subchapter 2 - State Obligations|§ 19-9-205. Cancelled obligations

 The Treasurer of State shall classify and record all paid and cancelled state obligations and, from time to time as directed by the State Board of Finance, destroy these obligations by burning them to ashes after preparing for execution certificates of incineration, which shall set forth a detailed description thereof.
AR Code § 19-9-301 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 9 - Public Obligations|Subchapter 3 - Refunding Bonds|§ 19-9-301. Delivery and deposit in trust — Definition

 (a) When refunding bonds are issued by the state, any county, municipality, school district, state-supported educational institution, improvement district of any kind, agency, or political subdivision, which may be called “issuing authorities”, the bonds may either be sold or delivered in exchange for the outstanding obligations being refunded. If sold, the proceeds may be either applied to the payment of the outstanding obligations or deposited into trust for the retirement of the obligations, either at maturity or upon any authorized redemption date as specified in the ordinance, resolution, order, or other instrument authorizing the issuance of the refunding bonds.  (b) The bonds may be issued in the principal amount necessary to pay the principal of, interest on, redemption premiums, if any, trustee's and paying agent's fees, and charges in connection with the obligations being refunded to maturity or to the redemption date specified in the instrument authorizing the issuance of the refunding bonds, these items to be called “total debt service requirements of the obligations being refunded”; to pay expenses incidental thereto; and to pay the expenses of authorizing and issuing the refunding bonds.  (c)  (1) The bonds may be delivered when moneys or investment securities or a combination thereof, sufficient to meet, as and when due, the total debt service requirements of the obligations being refunded, have been irrevocably deposited into trust with a bank or trust company organized under the laws of the United States or any state thereof. This bank or trust company shall be qualified to receive trust funds pursuant to a trust agreement requiring the bank or trust company to apply the trust funds to the payment, as and when due, of total debt service requirements of the obligations being refunded. If the bank or trust company is not the paying agent for the obligations being refunded, the trust agreement shall require it to pay over trust moneys to the paying agent as and when required for the timely meeting of total debt service requirements of the obligations being refunded.  (2) “Investment securities” shall mean direct obligations of, or obligations the principal of and interest on which are fully guaranteed by, the United States, maturing and bearing interest at such times and in such amounts as, together with uninvested trust moneys, will make available sufficient moneys to meet, as and when due, total debt service requirements of the obligations being refunded. In determining the sufficiency of the trust deposit, there shall be considered the principal amount of such investment securities and the interest to be earned on them.
AR Code § 19-9-302 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 9 - Public Obligations|Subchapter 3 - Refunding Bonds|§ 19-9-302. Sale when old bonds cannot be presented

 (a) Where refunding bonds are to be issued by any municipality, county, state-supported educational institution, or improvement district of any kind and the bonds to be refunded cannot be presented for payment and cancellation simultaneously with the payment and delivery of the refunding bonds, the refunding bonds may be delivered when the purchase money is deposited into trust. The purchase money may be deposited for the purpose of payment of the principal of and interest on the bonds to be refunded with any insured bank or trust company in the state which is otherwise fully qualified to receive trust funds if the bonds to be refunded have fixed maturity dates of not to exceed twelve (12) months from the date of the payment and delivery of the refunding bonds or if the bonds are redeemable before maturity and have been duly called for payment.  (b) If the bank or trust company is not the paying agent for the bonds to be refunded, the purchase money shall be paid over by it to the paying agent three (3) days before the maturity of the bonds or three (3) days before the date for which the bonds have been called for payment.
AR Code § 19-9-303 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 9 - Public Obligations|Subchapter 3 - Refunding Bonds|§ 19-9-303. Private sale to United States

 Any refunding bonds authorized to be sold by the State of Arkansas or any agency or instrumentality of the state at public sale, notwithstanding the provision for public sale, may, nevertheless, be sold to the United States or any agency thereof at private sale without public advertisement if the bonds are sold at not less than par and at a rate of interest not greater than the rate borne by the bonds to be refunded.
AR Code § 19-9-304 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 9 - Public Obligations|Subchapter 3 - Refunding Bonds|§ 19-9-304. Interest rate

 (a) Any county, school district, improvement district, or municipality may refund any bonds issued under any statutory or constitutional authority at any time outstanding by the issuance of bonds bearing a rate or rates of interest that the issuer shall deem to be just and fair, whether or not greater than the rate or rates of interest borne by the bonds being refunded.  (b) No bonds shall be refunded at a rate of interest greater than the maximum rate set by the statutes or constitutional provision under which they were originally authorized.
AR Code § 19-9-305 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 9 - Public Obligations|Subchapter 3 - Refunding Bonds|§ 19-9-305. Conversion privilege

 The refunding bonds may be issued with the privilege of conversion to a lower rate or rates of interest if the issuer receives no less and pays no more than it would receive or pay if the bonds were not converted. The conversion shall be subject to the approval of the issuer.
AR Code § 19-9-306 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 9 - Public Obligations|Subchapter 3 - Refunding Bonds|§ 19-9-306. Inclusion of redemption premiums in principal

 The State of Arkansas, any agency of the state, any county, any municipality, any school district, any improvement district of any kind, or any other political subdivision of the State of Arkansas, which may be called “issuing authorities”, is authorized to include in the principal of refunding bonds the amount of any redemption premiums required to be paid to accomplish the redemption of the bonds being refunded.
AR Code § 19-9-401 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 9 - Public Obligations|Subchapter 4 - Registered Public Obligations Act of Arkansas|§ 19-9-401. Title

 This subchapter may be cited as the “Registered Public Obligations Act of Arkansas”.
AR Code § 19-9-402 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 9 - Public Obligations|Subchapter 4 - Registered Public Obligations Act of Arkansas|§ 19-9-402. Purpose

 (a) The Internal Revenue Code provides that interest with respect to certain obligations may not be exempt from federal income taxation unless the obligations are in registered form. It is therefore a matter of state concern that public entities be authorized to provide for the issuance of obligations in such form. It is a purpose of this subchapter to empower all public entities to establish and maintain a system pursuant to which obligations may be issued in registered form within the meaning of the applicable provisions of the Internal Revenue Code.  (b) Obligations have traditionally been issued in bearer rather than in registered form, and a change from bearer to registered form may affect the relationships, rights, and duties of issuers of and the persons that deal with obligations and, by such effect, the costs of issuing obligations. Such effects will impact the various issuers and varieties of obligations differently depending upon their legal and financial characteristics, their markets, and their adaptability to recent and prospective technological and organizational developments. It is therefore a matter of state concern that public entities be provided flexibility in the development of such systems and control over system incidents so as to accommodate the different impacts. It is a purpose of this subchapter to empower the establishment, maintenance, and amendment, from time to time, of differing systems of registration of obligations so as to accommodate the differing impacts upon issuers and varieties of obligations. It is further a purpose of this subchapter to authorize systems that will facilitate the prompt and accurate transfer of registered public obligations and develop practices with regard to the registration and transfer of registered public obligations.
AR Code § 19-9-404 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 9 - Public Obligations|Subchapter 4 - Registered Public Obligations Act of Arkansas|§ 19-9-404. Applicability

 (a) Unless, at any time prior to or at original issuance of a registered public obligation, the official or official body of the issuer determines otherwise, this subchapter shall be applicable to such registered public obligation, notwithstanding any provision of law to the contrary. When this subchapter is applicable, no contrary provision shall apply.  (b) Nothing in this subchapter limits or prevents the issuance of obligations in any other form or manner authorized by law.  (c) Unless determined otherwise pursuant to subsection (a) of this section, the provisions of this subchapter shall be applicable with respect to obligations which have been approved by vote, referendum, or hearing which authorizes or permits the authorization of obligations in bearer and registered form or in bearer form only. These obligations need not be resubmitted for a further vote, referendum, or hearing for the purpose of authorizing or permitting the authorization of registered public obligations pursuant to this subchapter.
AR Code § 19-9-405 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 9 - Public Obligations|Subchapter 4 - Registered Public Obligations Act of Arkansas|§ 19-9-405. Construction

 (a) This subchapter shall be liberally construed to accomplish the intent and purposes hereof and shall be the sole authority required for the accomplishment of such purposes.  (b) This subchapter shall be construed in conjunction with the Uniform Commercial Code, § 4-1-101 et seq., and the principles of contract law relative to the registration and transfer of obligations.
AR Code § 19-9-407 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 9 - Public Obligations|Subchapter 4 - Registered Public Obligations Act of Arkansas|§ 19-9-407. Signatures required

 (a) A certificated registered public obligation shall be executed by the issuer by the manual or facsimile signatures of authorized officers. Any signature of an authorized officer may be attested by the manual or facsimile signature of another authorized officer.  (b) In addition to the signatures referred to in subsection (a) of this section, any certificated registered public obligation or any writing relating to an uncertificated registered public obligation may include a certificate signed by the manual or facsimile signature of an authenticating agent, registrar, transfer agent, or the like.  (c) At least one (1) signature of an authorized officer or other person required or permitted to be placed on a certificated registered public obligation shall be a manual signature.
AR Code § 19-9-408 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 9 - Public Obligations|Subchapter 4 - Registered Public Obligations Act of Arkansas|§ 19-9-408. Signature of predecessor in office

 (a) Any certificated registered public obligation signed by the authorized officers at the time of the signing thereof shall remain valid and binding, notwithstanding that before the issuance thereof any or all of the officers shall have ceased to fill their respective offices.  (b)  (1) Any authorized officer empowered to sign any certificated registered public obligation may adopt as and for the signature of such officer the signature of a predecessor in office in the event that such predecessor's signature appears on such certificated registered public obligation.  (2) An authorized officer incurs no liability by adoption of a predecessor's signature that would not be incurred by such authorized officer if the signature were that of such authorized officer.
AR Code § 19-9-409 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 9 - Public Obligations|Subchapter 4 - Registered Public Obligations Act of Arkansas|§ 19-9-409. Seal

 When a seal is required or permitted in the execution of any certificated registered public obligation, an authorized officer may cause the seal to be printed, engraved, stamped, or otherwise placed in facsimile thereon. The facsimile seal has the same legal effect as the impression of the seal.