Statutes > Arkansas Statutes > Title 15 - Natural Resources and Economic Development > Subtitle 1 - Development Of Economic And Natural Resources Generally > Chapter 5 - Arkansas Development Finance Authority > Subchapter 3 - Arkansas Development Finance Authority Act -- Bonds > § 15-5-304 - Exclusive issuer of mortgage bonds.

§ 15-5-304 - Exclusive issuer of mortgage bonds.

15-5-304. Exclusive issuer of mortgage bonds.

For purposes of compliance with the Mortgage Subsidy Bond Tax Act of 1980, the General Assembly finds and declares that the Arkansas Development Finance Authority shall be the exclusive issuer of mortgage bonds as defined in the Mortgage Subsidy Bond Tax Act of 1980, and the authority shall receive the entire allocation to the state in principal amount of bonds to be issued annually.