# Ark. Code Ann. § 15-4-3004: Authority to issue bonds

> Arkansas · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_AR_T15_C4_S30_S15-4-3004

## Section

- **Citation:** Ark. Code Ann. § 15-4-3004
- **Heading:** Authority to issue bonds
- **Jurisdiction:** Arkansas
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** AR Code / Title 15 / Chapter 4 / Subchapter 30 / Section 15-4-3004

## Text

(a) (1) The Arkansas Development Finance Authority, exercising an essential public function as the State of Arkansas's bond-issuing authority, is authorized by this subchapter to issue bonds to fund superprojects. (2) The authority shall be responsible for developing the bond financing portion of the plan required by § 15-4-3005 . (b) (1) As the lead economic development agency for the State of Arkansas, the Arkansas Economic Development Commission is authorized to utilize the superproject funding in attracting superprojects to Arkansas. (2) The commission shall: (A) Utilize economic impact and cost-benefit analysis to evaluate proposed superprojects; (B) Be responsible for developing the portion of the plan concerning the selection and funding of the superprojects; and (C) Be responsible for monitoring and reporting to the authority, the Governor, and the Legislative Council on the ongoing economic impact of the superproject and the sponsor's progress in meeting the requirement for their economic development investment. Acts 2003, No. 1751, § 4.

(a) (1) The Arkansas Development Finance Authority, exercising an essential public function as the State of Arkansas's bond-issuing authority, is authorized by this subchapter to issue bonds to fund superprojects. (2) The authority shall be responsible for developing the bond financing portion of the plan required by § 15-4-3005 .

(1) The Arkansas Development Finance Authority, exercising an essential public function as the State of Arkansas's bond-issuing authority, is authorized by this subchapter to issue bonds to fund superprojects.

(2) The authority shall be responsible for developing the bond financing portion of the plan required by § 15-4-3005 .

(b) (1) As the lead economic development agency for the State of Arkansas, the Arkansas Economic Development Commission is authorized to utilize the superproject funding in attracting superprojects to Arkansas. (2) The commission shall: (A) Utilize economic impact and cost-benefit analysis to evaluate proposed superprojects; (B) Be responsible for developing the portion of the plan concerning the selection and funding of the superprojects; and (C) Be responsible for monitoring and reporting to the authority, the Governor, and the Legislative Council on the ongoing economic impact of the superproject and the sponsor's progress in meeting the requirement for their economic development investment.

(1) As the lead economic development agency for the State of Arkansas, the Arkansas Economic Development Commission is authorized to utilize the superproject funding in attracting superprojects to Arkansas.

(2) The commission shall: (A) Utilize economic impact and cost-benefit analysis to evaluate proposed superprojects; (B) Be responsible for developing the portion of the plan concerning the selection and funding of the superprojects; and (C) Be responsible for monitoring and reporting to the authority, the Governor, and the Legislative Council on the ongoing economic impact of the superproject and the sponsor's progress in meeting the requirement for their economic development investment.

(A) Utilize economic impact and cost-benefit analysis to evaluate proposed superprojects;

(B) Be responsible for developing the portion of the plan concerning the selection and funding of the superprojects; and

(C) Be responsible for monitoring and reporting to the authority, the Governor, and the Legislative Council on the ongoing economic impact of the superproject and the sponsor's progress in meeting the requirement for their economic development investment.

Acts 2003, No. 1751, § 4.

## Nearby sections

- [Ark. Code Ann. § 15-4-3001 Title](https://www.frixlaw.com/law-library/statutes/STATE_AR_T15_C4_S30_S15-4-3001.md)
- [Ark. Code Ann. § 15-4-3002 Legislative findings](https://www.frixlaw.com/law-library/statutes/STATE_AR_T15_C4_S30_S15-4-3002.md)
- [Ark. Code Ann. § 15-4-3003 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_AR_T15_C4_S30_S15-4-3003.md)
- [Ark. Code Ann. § 15-4-3004 Authority to issue bonds](https://www.frixlaw.com/law-library/statutes/STATE_AR_T15_C4_S30_S15-4-3004.md)
- [Ark. Code Ann. § 15-4-3005 State of Arkansas Economic Development General Obligation Bonds](https://www.frixlaw.com/law-library/statutes/STATE_AR_T15_C4_S30_S15-4-3005.md)
- [Ark. Code Ann. § 15-4-3006 Qualification as a superproject](https://www.frixlaw.com/law-library/statutes/STATE_AR_T15_C4_S30_S15-4-3006.md)
- [Ark. Code Ann. § 15-4-3007 Series of bonds](https://www.frixlaw.com/law-library/statutes/STATE_AR_T15_C4_S30_S15-4-3007.md)
- [Ark. Code Ann. § 15-4-3008 Purpose of bonds](https://www.frixlaw.com/law-library/statutes/STATE_AR_T15_C4_S30_S15-4-3008.md)
- [Ark. Code Ann. § 15-4-3009 Authorization of bonds](https://www.frixlaw.com/law-library/statutes/STATE_AR_T15_C4_S30_S15-4-3009.md)
- [Ark. Code Ann. § 15-4-3010 Form and delivery of bonds](https://www.frixlaw.com/law-library/statutes/STATE_AR_T15_C4_S30_S15-4-3010.md)
- [Ark. Code Ann. § 15-4-3011 Sale and price of bonds](https://www.frixlaw.com/law-library/statutes/STATE_AR_T15_C4_S30_S15-4-3011.md)
- [Ark. Code Ann. § 15-4-3012 Deposit of bond proceeds](https://www.frixlaw.com/law-library/statutes/STATE_AR_T15_C4_S30_S15-4-3012.md)
- [Ark. Code Ann. § 15-4-3013 Powers of the Arkansas Economic Development Commission](https://www.frixlaw.com/law-library/statutes/STATE_AR_T15_C4_S30_S15-4-3013.md)
- [Ark. Code Ann. § 15-4-3014 General obligations bonds](https://www.frixlaw.com/law-library/statutes/STATE_AR_T15_C4_S30_S15-4-3014.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_AR_T15_C4_S30_S15-4-3004. Check the current official text before relying on it. Not legal advice.