Opinion No.

The Honorable Steven D. Bright State Representative 177 Southshore Drive Maumelle, Arkansas 72113-5810

Dear Representative Bright:

I am writing in response to your request for an opinion on the following question:

Can the State of Arkansas issue a Promissory Note or a Bank Guarantee, backed by the assets of the State, for collateral to fund any legal project for improvement of the infrastructure of the State? If yes, is the State constitutionally bound to refer the question to the people for a ballot vote?

RESPONSE

It is impossible to answer your question in any meaningful way without reference to…