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Legal Opinion

Opinion No.

Arkansas Attorney General Reports

Decided December 31, 2002Published

1Opinion of the Court

Mr. Mac Dodson, President Arkansas Development Finance Authority 100 Main, Ste. 200 P.O. Box 8023 Little Rock, AR 72203-8023

Dear Mr. Dodson:

You have presented the following questions for my opinion:

What is the impact on Amendment 60 of the Arkansas Constitution of the Federal Reserve's recent final amendments to Regulation A? What is the propriety of utilizing the new primary rate as opposed to the secondary rate as a replacement for the "Federal Reserve Discount Rate" that is referenced in Amendment 60?

BACKGROUND

Before responding to your questions, I will set forth the background events and…

2Cases cited8 opinions

  1. Rainwater v. United StatesSupreme Court of the United States · 1958
  2. Gazaway v. Greene County Equalization BoardSupreme Court of Arkansas · 1993
  3. Drennen v. BennettSupreme Court of Arkansas · 1959
  4. White v. HankinsSupreme Court of Arkansas · 1982
  5. Byrd v. ShortSupreme Court of Arkansas · 1957

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