Definition

As used in this section, § 26-51-1202 , and § 26-51-1203 , "invested" includes expenditures made from the proceeds of bonds, including interim notes or other evidence of indebtedness, issued by a municipality, county, or an agency or instrumentality of a municipality, county, or the State of Arkansas, if the obligation to repay the bonds, including interest on the bonds, is a legal, binding obligation, directly or indirectly, of the taxpayer. Acts 1987, No. 48, § 1. As used in this section, § 26-51-1202 , and § 26-51-1203 , "invested" includes expenditures made from the proceeds of bonds, including interim notes or other evidence of indebtedness, issued by a municipality, county, or an agency or instrumentality of a municipality, county, or the State of Arkansas, if the obligation to repay the bonds, including interest on the bonds, is a legal, binding obligation, directly or indirectly, of the taxpayer. Acts 1987, No. 48, § 1.