Section 15-4-406 - Authority to issue revenue bonds - Loan fundsTo stimulate the flow of private funds for capital improvements to small business concerns, the Arkansas Economic Development Council is authorized to:
(1) Issue revenue bonds to obtain funds to be administered through the Division of Minority Business Enterprise of the Arkansas Economic Development Commission to make investment loans to small business concerns insured by the United States Small Business Administration; and(2) Provide funds whereby the division may purchase from small business investment companies small business enterprise loans for capital improvements and expansions guaranteed by the United States Small Business Administration, thereby making available to such small business investment companies additional loan funds.Acts 1985, No. 869, § 4; A.S.A. 1947, § 9-572; Acts 1997, No. 540, § 73.