Security for bonds. — Arkansas Code § 15-4-518
Arkansas Code § 15-4-518 — Security for bonds.. Reproduced from the official Arkansas Code of 1987 Annotated, with a citation summary, verification link, and related provisions.
§ 15-4-518. Security for bonds.
Such bonds, notes, or other obligations as may be issued by the corporation may be secured by a mortgage or deed of trust of any of the lands of the corporation and the improvements constructed or proposed to be constructed thereon and machinery and equipment installed or to be installed therein. However, no corporation shall issue first lien obligations under the provisions of this act in excess of eighty percent (80%) of the appraised or cost value duly established of such lands, improvements, machinery, and equipment mortgaged to secure payment of the obligations. Obligations may be secured additionally by a mortgage or deed of trust on any other personal property of the corporation, by a pledge of the revenues of the corporation derived from the properties mortgaged to secure the obligations, and by a pledge of any and all other income of the corporation.
Source: official Arkansas text · Last verified 2026-08-27
At a glance
- Citation: Arkansas Code of 1987 Annotated § 15-4-518
- Jurisdiction: Arkansas
- Code: Arkansas Code of 1987 Annotated
- Subject: Security for bonds.
- Text: transcribed from the official source (verify below)
Verify the text
Statute text is transcribed from the official Arkansas Code of 1987 Annotated. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Arkansas attorney.
Common questions
What is the source of Arkansas Code of 1987 Annotated § 15-4-518?
The text above is transcribed from the Arkansas Code of 1987 Annotated, the codified statutes of Arkansas. The official publisher link appears under "Verify the text" on this page.
What subject does Arkansas Code of 1987 Annotated § 15-4-518 address?
It addresses "Security for bonds.". Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
Is Arkansas Code of 1987 Annotated § 15-4-518 still in force?
Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Arkansas source before relying on this text.
Can this page be used as legal advice?
No. This is a reference transcription for research. Applying Arkansas law to your facts requires a licensed Arkansas attorney who can review the specifics.