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Arkansas Constitution amended to encourage economic development

On November 8, 2016, Arkansas voters approved constitutional amendments that are intended to encourage job creation, job expansion and economic development. Specifically, the amendments allow local jurisdictions to obtain or appropriate funds to finance economic development projects or provide economic development services. Also, the amendments remove the limitation on the amount of general obligation bonds that the state may issue to finance infrastructure or attract economic development projects. Finally, the amendments allow local jurisdictions to issue bonds for economic development projects.