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14-164-207. Applicability of §§ 14-164-208 — 14-164-216, and 14-164-218.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-164-207. Applicability of §§ 14-164-208 — 14-164-216, and 14-164-218.
The provisions of this section and §§ 14-164-208 — 14-164-216 and 14-164-218 shall not restrict the issuance of any bonds with regard to which a resolution, ordinance, order, or like action authorizing or committing to the issuance of bonds shall have been adopted or taken by a municipality or county prior to March 16, 1981.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-164-207
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.
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Stable record: arkansas_code:legal_authorities:14-164-207
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: b6aa803a17dbf1fa53109a7f704555aec70f5a604aa9094b002843b1959cdbc3
Source location: content.xml paragraph 36873
Stored source content
14-164-207. Applicability of §§ 14-164-208 — 14-164-216, and 14-164-218.
The provisions of this section and §§ 14-164-208 — 14-164-216 and 14-164-218 shall not restrict the issuance of any bonds with regard to which a resolution, ordinance, order, or like action authorizing or committing to the issuance of bonds shall have been adopted or taken by a municipality or county prior to March 16, 1981.
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-164-208. Adoption of bond ordinance or order.
(a)(1) Revenue bonds authorized by this subchapter may be issued by a municipality upon the adoption of an ordinance for that purpose by the governing body of the municipality.
(2) Revenue bonds authorized by this subchapter may be issued by a county upon the entry of an order of the county court of the county.
(b) The ordinance or order shall state the purpose for which the revenue bonds are to be issued and the total principal amount of the issue.
(c)(1) No ordinance or order shall be adopted or entered until after a public hearing is held before the governing body of the municipality or the county court of the county. However, no public hearing shall be required for the issuance of bonds for the purpose of refunding any obligations issued under this subchapter.
(2) At least ten (10) days prior to the date of the hearing, notice of it shall be published one (1) time in a newspaper of general circulation in the municipality or county.
(d) After the hearing, which may be adjourned from time to time, the ordinance or order as introduced or as modified or amended may be adopted or entered.
(e)(1) The notice provided for in this section shall be published by the mayor, clerk, or recorder of the municipality or by the county judge or county clerk of the county.
(2) It shall not be necessary that the action be taken by the governing body or county court to direct publication of the notice.
(f)(1)(A) A municipal ordinance authorizing bonds shall be published one (1) time in a newspaper of general circulation in the municipality.
(B) It shall not be necessary to publish a county court order authorizing bonds.
(C) It shall not be necessary to comply with general provisions of other laws dealing with the publ
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-164-208
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. The source passage cites 14-164-208. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-164-216. Bonds — Priority among issues.
Priority between and among issues and successive issues as to security of the pledge of revenues and mortgage liens on the land, buildings, and facilities involved may be controlled by the ordinance or order authorizing the issuance of bonds under this subchapter.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-164-216
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. The source passage cites 14-164-216. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-164-218. Bonds — Interim financing.
(a) If the issuance of bonds is authorized in accordance with the provisions of this subchapter, a municipality or county is authorized to obtain interim financing pending the delivery of all or any part of the bonds from such sources and upon such terms as the municipality or the county shall determine.
(b) As evidence of any indebtedness so incurred, the municipality or the county may execute and deliver its promissory note or notes and pledge to the payment thereof any revenues authorized by this subchapter to be pledged to revenue bonds and may secure the notes in the same manner as revenue bonds issued under this subchapter may be secured.
(c) As the ordinance or order may provide, the notes may:
(1) Bear such date or dates;
(2) Mature at such time or times, not exceeding thirty-six (36) months from their respective dates;
(3) Bear interest at such rate or rates;
(4) Be in such form;
(5) Be executed in such manner;
(6) Be payable at such place or places;
(7) Contain such provisions for prepayment prior to maturity; and
(8) Contain such other terms, or covenants and conditions, consistent with the provisions of this subchapter, pertaining to revenue bonds and pertaining to the security, rights, duties, and obligations of the municipality or county and the trustee for the holders or registered owners of the bonds and the rights of the holders or registered owners of the bonds.
(d) These notes shall not be general obligations of the municipality or county but shall be special obligations, and in no event shall these notes constitute an indebtedness of the municipality or county within the meaning of any constitutional or statutory limitation.
(e) The municipality or county may use, as distinguished from
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-164-218
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. The source passage cites 14-164-218. This identifies an authority to review, not proof of applicability.