Opinion No.

The Honorable Randy Laverty State Senator Post Office Box 165 Jasper, AR 72641

Dear Senator Laverty:

You have requested my opinion concerning the county annual financial report in situations in which a county acts as a "conduit bond issuer."

You explain that many counties and municipalities serve as "conduit bond issuers" for economic development and other purposes. In these situations, bonds are issued in the name of the county or municipality. In most instances, the project is leased to the non-profit or company running the project for the length of the bonds, with the entity being obligated…