Browse Arkansas Code titles and sections
12-41-613. Bonds — Pledge of revenues — Funds.
Arkansas Code — all titles (historical 2020) · legal_authorities
12-41-613. Bonds — Pledge of revenues — Funds.
(a) The principal, premiums, if any, interest, and trustee's and paying agent's fees in connection with all bonds issued under this subchapter shall be secured by a lien on and pledge of the fee revenues and the gross revenues derived from the fees levied under the provisions of § 12-41-617 [repealed].
(b) Such pledged revenues are specifically declared to be cash funds, restricted in their use and dedicated and to be used solely as provided in this subchapter.
(c)(1) There is created a fund designated “county jail revenue bond fund” to be maintained at a depository as shall be specified by the county jail board. The county jail revenue bond fund shall be a trust fund.
(2) After the issuance of any bonds under this subchapter, the moneys in the county jail revenue bond fund shall be applied solely for the payment of the principal of, premiums, if any, interest on, trustee's and paying agent's fees in connection with the bonds at maturity and at redemption prior to maturity, except moneys that are withdrawn therefrom pursuant to the subsequent provisions of this section, all as shall be specified and subject to the terms and conditions set forth in the authorizing resolution or trust indenture.
(d) The pledged revenue shall not be deposited into the county treasury but, as and when received, shall be deposited into the county jail revenue bond fund.
(e) The principal of, premiums, if any, interest on, and trustee's and paying agent's fees in connection with the bonds shall be payable solely from the moneys in the county jail revenue bond fund and the moneys required by this subchapter to be deposited into the county jail revenue bond fund.
(f) The board is directed to insert appropriate provisions in the author
Source: Arkansas Code — historical release 78 (November 6, 2020) · 12-41-613
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
Issuing source page ↗
Authority boundary: historical statutory source snapshot not current law.
Open the recorded source website ↗
Record provenance
Stable record: arkansas_code:legal_authorities:12-41-613
Source file: gov.ar.code.title.12.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 56697c15b279728fcd7ebdf220cfbe8f1a8e3e6f81dfaacceb0bc7d3e957d5d0
Source location: content.xml paragraph 15287
Stored source content
12-41-613. Bonds — Pledge of revenues — Funds.
(a) The principal, premiums, if any, interest, and trustee's and paying agent's fees in connection with all bonds issued under this subchapter shall be secured by a lien on and pledge of the fee revenues and the gross revenues derived from the fees levied under the provisions of § 12-41-617 [repealed].
(b) Such pledged revenues are specifically declared to be cash funds, restricted in their use and dedicated and to be used solely as provided in this subchapter.
(c)(1) There is created a fund designated “county jail revenue bond fund” to be maintained at a depository as shall be specified by the county jail board. The county jail revenue bond fund shall be a trust fund.
(2) After the issuance of any bonds under this subchapter, the moneys in the county jail revenue bond fund shall be applied solely for the payment of the principal of, premiums, if any, interest on, trustee's and paying agent's fees in connection with the bonds at maturity and at redemption prior to maturity, except moneys that are withdrawn therefrom pursuant to the subsequent provisions of this section, all as shall be specified and subject to the terms and conditions set forth in the authorizing resolution or trust indenture.
(d) The pledged revenue shall not be deposited into the county treasury but, as and when received, shall be deposited into the county jail revenue bond fund.
(e) The principal of, premiums, if any, interest on, and trustee's and paying agent's fees in connection with the bonds shall be payable solely from the moneys in the county jail revenue bond fund and the moneys required by this subchapter to be deposited into the county jail revenue bond fund.
(f) The board is directed to insert appropriate provisions in the authorizing resolution or trust indenture for the investment and reinvestment of moneys in the county jail revenue bond fund in securities selected by the board, and all income derived from such investments shall be and become part of the county jail revenue bond fund.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Arkansas Code — all titles (historical 2020) · legal_authorities
12-41-617. [Repealed.]
Source: Arkansas Code — historical release 78 (November 6, 2020) · 12-41-617
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: repealed. The source passage cites 12-41-617. This identifies an authority to review, not proof of applicability.