reglab/housing_qa huggingface dataset:
AR Code § 27-64-312 (2020)
2020 Arkansas Code|Title 27 - Transportation|Subtitle 5 - Highways, Roads, And Streets|Chapter 64 - General Provisions|Subchapter 3 - Arkansas Interstate Highway Financing Act of 2005|§ 27-64-312. Refunding bonds

 (a) The State Highway Commission may issue bonds for the purpose of refunding the State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds previously issued pursuant to this subchapter if the total amount of bonds outstanding after the refunding is completed does not exceed the total amount authorized by this subchapter.  (b) The refunding bonds shall be special obligations of the State of Arkansas and shall be secured and sold in accordance with the provisions of this subchapter.
AR Code § 27-64-313 (2020)
2020 Arkansas Code|Title 27 - Transportation|Subtitle 5 - Highways, Roads, And Streets|Chapter 64 - General Provisions|Subchapter 3 - Arkansas Interstate Highway Financing Act of 2005|§ 27-64-313. Tax exemption

 (a) All State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds issued under this subchapter and interest on the bonds shall be exempt from all taxes of the State of Arkansas, including income, inheritance, and property taxes.  (b) The bonds shall be eligible to secure deposits of all public funds and shall be legal for investment of municipal, county, bank, fiduciary, insurance company, and trust funds.
AR Code § 27-64-314 (2020)
2020 Arkansas Code|Title 27 - Transportation|Subtitle 5 - Highways, Roads, And Streets|Chapter 64 - General Provisions|Subchapter 3 - Arkansas Interstate Highway Financing Act of 2005|§ 27-64-314. Powers of the State Highway Commission

 (a) All powers granted to the State Highway Commission under this subchapter are in addition to the powers of the commission under Arkansas Constitution, Amendment 42 and the laws of the State of Arkansas.  (b) No member of the commission shall be liable personally for any reason arising from the issuance of the State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds pursuant to this subchapter unless the member acts with corrupt intent.
AR Code § 27-64-401 (2020)
2020 Arkansas Code|Title 27 - Transportation|Subtitle 5 - Highways, Roads, And Streets|Chapter 64 - General Provisions|Subchapter 4 - Arkansas Interstate Highway Financing Act of 2007|§ 27-64-401. Title

 This subchapter may be referred to and cited as the “Arkansas Interstate Highway Financing Act of 2007”.
AR Code § 27-64-402 (2020)
2020 Arkansas Code|Title 27 - Transportation|Subtitle 5 - Highways, Roads, And Streets|Chapter 64 - General Provisions|Subchapter 4 - Arkansas Interstate Highway Financing Act of 2007|§ 27-64-402. Findings

 (a) The General Assembly of the State of Arkansas has determined that there is an immediate need for highway improvements throughout the State of Arkansas in order to provide for the health, safety, and welfare of its citizens and to promote economic development within the state. The General Assembly has determined that through the revenues generated pursuant to the Arkansas Highway Financing Act of 1999, § 27-64-201 et seq., the State Highway Commission has been successful in completing the rehabilitation of much of the state's interstate highway system and that such rehabilitation has been carried out in an efficient, cost-effective manner. The General Assembly has determined that continued improvement of the interstate highway system is necessary and that the best way to accomplish such improvement expeditiously is through the issuance of additional federal highway grant anticipation and tax revenue bonds to finance such highway improvements.  (b) The General Assembly has further determined that the bonds should be payable from revenues currently designated by the Arkansas Highway Financing Act of 1999, § 27-64-201 et seq., including federal highway assistance funding and the proceeds from the Arkansas Distillate Special Fuel Excise Tax Act of 1999 and the Motor Fuel Excise Tax Act of 1999, §§ 26-55-1005, 26-55-1006, 26-56-201, and 27-72-305, and that the repayment of such bonds should also be guaranteed by the full faith and credit of the state.
AR Code § 27-64-403 (2020)
2020 Arkansas Code|Title 27 - Transportation|Subtitle 5 - Highways, Roads, And Streets|Chapter 64 - General Provisions|Subchapter 4 - Arkansas Interstate Highway Financing Act of 2007|§ 27-64-403. Definitions

 As used in this subchapter:   (1) “Act” shall mean this Arkansas Interstate Highway Financing Act of 2007 § 27-64-401 et seq.  (2) “Bonds” shall mean the “State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds” or “GARVEE bonds”, as authorized herein;  (3) “Commission” shall mean the State Highway Commission, created and existing pursuant to Arkansas Constitution, Amendment 42;  (4) “Debt service” shall mean all amounts required for the payment of principal, interest, and premium, if any, due with respect to the bonds in any fiscal year, along with all associated costs, including the fees and costs of paying agents and trustees, remarketing agent fees, credit enhancement costs, and other amounts necessary in connection with the bonds;  (5) “Designated revenues” shall mean:  (A) That portion designated by the commission of funds received or to be received from the federal government as federal highway assistance funding allocated to the state designated as federal highway interstate maintenance funds; and  (B) Revenues derived from the increase in taxes levied on distillate special fuels pursuant to the Arkansas Distillate Special Fuel Excise Tax Act of 1999 and the Motor Fuel Excise Tax Act of 1999, §§ 26-55-1005, 26-55-1006, 26-56-201, and 27-72-305; and    (6) “Highway improvements” or “highway improvement projects” shall mean restoration and improvements to all of the interstate highway system within the state, including roadways, bridges, or rights-of-way under the jurisdiction of the commission, and shall also include the acquisition, construction, reconstruction, and renovation of such interstate system and facilities appurtenant or pertaining thereto.
AR Code § 27-64-404 (2020)
2020 Arkansas Code|Title 27 - Transportation|Subtitle 5 - Highways, Roads, And Streets|Chapter 64 - General Provisions|Subchapter 4 - Arkansas Interstate Highway Financing Act of 2007|§ 27-64-404. Authorization — Purposes

 The State Highway Commission is hereby authorized, subject to the approval of the voters in a statewide election, to issue bonds from time to time provided that the total principal amount outstanding from the issuance of the bonds, together with the total principal amount outstanding from the issuance of bonds pursuant to Arkansas Highway Financing Act of 1999, § 27-64-201 et seq., shall not, at any time, exceed five hundred seventy-five million dollars ($575,000,000). The bonds will be issued in one (1) or more series of various principal amounts with the last series being issued no later than December 31, 2015. The bonds shall be issued for the following purposes:   (1) Accelerating interstate highway improvement projects already underway or scheduled;  (2) Funding new interstate highway improvement projects;  (3) Financing the restoration, reconstruction, and renovation of interstate highway improvements within the State of Arkansas; and  (4) Paying the costs of issuance of the bonds, including the costs of bond issuance or other credit enhancement.
AR Code § 27-64-406 (2020)
2020 Arkansas Code|Title 27 - Transportation|Subtitle 5 - Highways, Roads, And Streets|Chapter 64 - General Provisions|Subchapter 4 - Arkansas Interstate Highway Financing Act of 2007|§ 27-64-406. Procedure for issuing bonds

 Prior to the issuance of any series of bonds, the State Highway Commission shall adopt a resolution authorizing the issuance of such series of bonds. Each such resolution shall contain such terms, covenants, and conditions as are deemed desirable and consistent with this act, including without limitation, those pertaining to the establishment and maintenance of funds and accounts, the deposit and investment of the federal highway assistance payments and bond proceeds, and the rights and obligations of the state, its officers and officials, the commission, and the registered owners of the bonds. The resolutions of the commission may provide for the execution and delivery by the commission of a trust indenture or trust indentures, with one (1) or more banks or trust companies located within or without the state, containing any of the terms, covenants, and conditions referred to above and such other terms and conditions deemed necessary by the commission, which trust indenture or trust indentures shall be binding upon the commission and the state and their respective officers and officials.
AR Code § 27-64-407 (2020)
2020 Arkansas Code|Title 27 - Transportation|Subtitle 5 - Highways, Roads, And Streets|Chapter 64 - General Provisions|Subchapter 4 - Arkansas Interstate Highway Financing Act of 2007|§ 27-64-407. Terms of bonds

 The bonds shall be subject to the following terms and conditions:   (1) The bonds shall be issued in series, as set forth herein, in amounts sufficient to finance all or part of the costs of construction and maintenance of highway improvements described in § 27-64-404 with the respective series to be designated by the year in which issued and, if more than one (1) series is to be issued in a particular year, by alphabetical designation;  (2) The bonds of each series shall have such date or dates as the State Highway Commission shall determine and shall mature or be subject to mandatory sinking fund redemption over a period ending not later than twelve (12) years after the date of issue of each series;  (3) The bonds of each series shall bear interest at the rate or rates determined by the commission at the sale of the bonds. The bonds may bear interest at either a fixed or a variable rate, or may be convertible from one (1) interest rate mode to another, and such interest shall be payable at such times as the commission shall determine;  (4) The bonds shall be issued in the form of bonds registered as to both principal and interest without coupons; may be in such denominations; and may be made exchangeable for bonds of another form or denomination, bearing the same rate of interest; may be made payable at such places within or without the state; may be made subject to redemption prior to maturity in such manner and for such redemption prices; and may contain such other terms and conditions, all as the commission shall determine; and  (5) Each bond shall be executed with the facsimile signatures of the Chair of the State Highway Commission and the secretary of the commission and shall have affixed or imprinted thereon the seal of the commission. Delivery of the bonds so executed shall be valid, notwithstanding any change in the persons holding such offices occurring after the bonds have been executed.
AR Code § 27-64-408 (2020)
2020 Arkansas Code|Title 27 - Transportation|Subtitle 5 - Highways, Roads, And Streets|Chapter 64 - General Provisions|Subchapter 4 - Arkansas Interstate Highway Financing Act of 2007|§ 27-64-408. Sale of Bonds

 (a) The bonds may be sold in such manner, either at private or public sale, and upon such terms as the State Highway Commission shall determine to be reasonable and expedient for effecting the purposes of this act. The bonds may be sold at a price acceptable to the commission, which price may include a discount or a premium.  (b) If the bonds are to be sold at public sale, the commission shall give notice of the offering of such bonds in a manner reasonably designed to notify participants in the public finance industry that such offering is being made. The commission shall set the terms and conditions of bidding, including the basis on which the winning bid will be selected.  (c) The commission is authorized to structure the sale of bonds utilizing such financing techniques as are recommended by its professional advisors in order to take advantage of market conditions and obtain the most favorable interest rates consistent with the purposes of this subchapter. In furtherance of this authorization, the commission may enter into such ancillary agreements in connection with the sale of the bonds as it deems necessary and advisable, including without limitation, bond purchase agreements, remarketing agreements, and letter of credit and reimbursement agreements.
AR Code § 27-64-409 (2020)
2020 Arkansas Code|Title 27 - Transportation|Subtitle 5 - Highways, Roads, And Streets|Chapter 64 - General Provisions|Subchapter 4 - Arkansas Interstate Highway Financing Act of 2007|§ 27-64-409. Employment of professionals

 The State Highway Commission is authorized to retain such professionals as it deems necessary to accomplish the issuance and sale of the bonds, including without limitation, legal counsel, financial advisors, underwriters, trustees, paying agents, and remarketing agents.
AR Code § 27-64-410 (2020)
2020 Arkansas Code|Title 27 - Transportation|Subtitle 5 - Highways, Roads, And Streets|Chapter 64 - General Provisions|Subchapter 4 - Arkansas Interstate Highway Financing Act of 2007|§ 27-64-410. Sources of repayment

 The State of Arkansas Federal Grant Anticipation and Tax Revenue Bonds or GARVEE bonds shall be general obligations of the State of Arkansas secured and payable from the designated revenues, as defined herein, and the general revenues of the state. The bonds will be payable first from certain designated revenues, specifically: (1) that portion designated by the State Highway Commission of funds received or to be received from the federal government as federal highway assistance funding allocated to the state designated as federal highway interstate maintenance funds, and (2) revenues derived from the increase in taxes levied on distillate special fuels pursuant to section 2 of the Arkansas Distillate Special Fuel Excise Tax Act of 1999 and the Motor Fuel Excise Tax Act of 1999, §§ 26-55-1005, 26-55-1006, 26-56-201, and 27-72-305 and transferred to the State Highway and Transportation Department Fund pursuant to § 27-70-207(d) in accordance with § 26-55-1006(d). To the extent that designated revenues are insufficient to make timely payment of debt service on the bonds, such payment shall be made from the general revenues of the State of Arkansas. In order to secure the payment of debt service, any trust instrument, resolution, or other document setting forth the security for the bondholders may provide for the direct payment of the federal highway assistance funds that are designated revenues directly into a trust fund, or to a paying agent, for the payment of debt service on the bonds, and it shall not be necessary for such funds to be deposited into the State Treasury.
AR Code § 27-64-411 (2020)
2020 Arkansas Code|Title 27 - Transportation|Subtitle 5 - Highways, Roads, And Streets|Chapter 64 - General Provisions|Subchapter 4 - Arkansas Interstate Highway Financing Act of 2007|§ 27-64-411. Investment of proceeds

 Any designated revenues and any proceeds of bonds held pending disbursement on highway improvements, shall be invested by the State Highway Commission to the full extent practicable pending disbursement for the purposes intended. Notwithstanding any other provision of law, such investments shall be in accordance with the terms of the resolution or trust indenture authorizing or securing the series of bonds to which said designated revenues or bond proceeds appertain to the extent the terms of such resolution or trust indenture are applicable.
AR Code § 27-64-412 (2020)
2020 Arkansas Code|Title 27 - Transportation|Subtitle 5 - Highways, Roads, And Streets|Chapter 64 - General Provisions|Subchapter 4 - Arkansas Interstate Highway Financing Act of 2007|§ 27-64-412. Refunding bonds

 (a) The State Highway Commission may issue bonds for the purpose of refunding bonds previously issued pursuant to this subchapter; provided, however, that such bonds are not issued after December 31, 2015, and that the total amount of bonds outstanding after the refunding is completed does not exceed the total amount authorized by this subchapter.  (b) Such refunding bonds shall be special obligations of the State of Arkansas, secured as set forth herein, and shall be secured and sold in accordance with the provisions of this subchapter.
AR Code § 27-64-413 (2020)
2020 Arkansas Code|Title 27 - Transportation|Subtitle 5 - Highways, Roads, And Streets|Chapter 64 - General Provisions|Subchapter 4 - Arkansas Interstate Highway Financing Act of 2007|§ 27-64-413. Tax Exemption

 All bonds issued under this subchapter and interest thereon shall be exempt from all taxes of the State of Arkansas, including income, inheritance, and property taxes. The bonds shall be eligible to secure deposits of all public funds, and shall be legal for investment of municipal, county, bank, fiduciary, insurance company, and trust funds.
AR Code § 27-64-414 (2020)
2020 Arkansas Code|Title 27 - Transportation|Subtitle 5 - Highways, Roads, And Streets|Chapter 64 - General Provisions|Subchapter 4 - Arkansas Interstate Highway Financing Act of 2007|§ 27-64-414. Powers of State Highway Commission

 All powers granted to the State Highway Commission pursuant to this subchapter shall be deemed in addition to such powers as already exist pursuant to Arkansas Constitution, Amendment 42 and the laws of the State of Arkansas. No member of the commission shall be liable personally for any reason arising from the issuance of bonds pursuant to this act unless such person shall have acted with corrupt intent.
AR Code § 27-64-501 (2020)
2020 Arkansas Code|Title 27 - Transportation|Subtitle 5 - Highways, Roads, And Streets|Chapter 64 - General Provisions|Subchapter 5 - Arkansas Highway Financing Act of 2011|§ 27-64-501. Title

 This subchapter may be referred to and cited as the “Arkansas Highway Financing Act of 2011”.
AR Code § 27-64-502 (2020)
2020 Arkansas Code|Title 27 - Transportation|Subtitle 5 - Highways, Roads, And Streets|Chapter 64 - General Provisions|Subchapter 5 - Arkansas Highway Financing Act of 2011|§ 27-64-502. Findings

 The General Assembly of the State of Arkansas finds that:   (1) There is an immediate need for highway improvements throughout the State of Arkansas in order to provide for the health, safety, and welfare of its citizens and to promote economic development within the state;  (2) Through revenues generated pursuant to the Arkansas Highway Financing Act of 1999, § 27-64-201 et seq., the State Highway Commission has been successful in completing the rehabilitation of much of the state's Interstate Highway System and that the rehabilitation has been carried out in an efficient, cost-effective manner;  (3) Continued improvement of the Interstate Highway System and other routes on the National Highway System is necessary, and the best way to accomplish the improvements expeditiously is through the issuance of additional federal highway grant anticipation and tax revenue bonds to finance highway improvements;  (4) Bonds should be payable from revenues currently designated by the Arkansas Highway Financing Act of 1999, § 27-64-201 et seq., including federal highway assistance funding and the proceeds from the Arkansas Distillate Special Fuel Excise Tax Act of 1999 and the Motor Fuel Excise Tax Act of 1999, §§ 26-55-1005, 26-55-1006, 26-56-201, and 27-72-305, and § 26-56-801 et seq.; and  (5) The repayment of the bonds should be guaranteed by the full faith and credit of the state.
AR Code § 27-64-503 (2020)
2020 Arkansas Code|Title 27 - Transportation|Subtitle 5 - Highways, Roads, And Streets|Chapter 64 - General Provisions|Subchapter 5 - Arkansas Highway Financing Act of 2011|§ 27-64-503. Definitions

 As used in this subchapter:   (1) “Bonds” means the State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds, also known as “GARVEE bonds”, as authorized in this subchapter;  (2) “Commission” means the State Highway Commission;  (3) “Debt service” means all amounts required for the payment of principal, interest, and premium, if any, due with respect to the bonds in any fiscal year along with all associated costs, including the fees and costs of paying agents and trustees, remarketing agent fees, credit enhancement costs, and other amounts necessary in connection with the bonds;  (4) “Designated revenues” means:  (A) The portion designated by the commission of funds received or to be received from the federal government as federal highway assistance funding allocated to the state; and  (B) Revenues derived from the distillate special fuel tax levied under:  (i) Section 26-56-201(e) that are available for expenditure after any distributions required by the Arkansas Highway Financing Act of 1999, § 27-64-201 et seq., the Arkansas Interstate Highway Financing Act of 2005, § 27-64-301 et seq., and the Arkansas Interstate Highway Financing Act of 2007, § 27-64-401 et seq.; and  (ii) Section 26-56-802; and      (5) “Highway improvements” or “highway improvement projects” means restoration and improvements to the Interstate Highway System and other routes within the National Highway System within the state, including roadways, bridges, or rights-of-way under the jurisdiction of the commission and includes the acquisition, construction, reconstruction, renovation of the Interstate Highway System and other routes within the National Highway System within the state and facilities appurtenant or pertaining to the Interstate Highway System and other routes within the National Highway System.
AR Code § 27-64-504 (2020)
2020 Arkansas Code|Title 27 - Transportation|Subtitle 5 - Highways, Roads, And Streets|Chapter 64 - General Provisions|Subchapter 5 - Arkansas Highway Financing Act of 2011|§ 27-64-504. Authorization — Purposes

 (a)  (1) Subject to the one-time approval of the voters in a statewide election, the State Highway Commission may issue State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds from time to time if the total principal amount outstanding from the issuance of the bonds, together with the total principal amount outstanding from the issuance of bonds pursuant to the Arkansas Highway Financing Act of 1999, § 27-64-201 et seq., the Arkansas Interstate Highway Financing Act of 2005, § 27-64-301 et seq., and the Arkansas Interstate Highway Financing Act of 2007, § 27-64-401 et seq., does not at any time exceed one billion one hundred million dollars ($1,100,000,000).  (2) The bonds will be issued in one (1) or more series of various principal amounts with the last series being issued no later than December 31, 2017.    (b) The purpose of the bond issuance shall be to:  (1) Accelerate highway improvement projects already underway or scheduled;  (2) Fund new highway improvement projects;  (3) Finance the restoration, reconstruction, and renovation of highway improvements within the State of Arkansas; and  (4) Pay the costs of issuance of the bonds or other credit enhancement.