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14-164-305. Subchapter supplemental.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-164-305. Subchapter supplemental.
(a) It is the specific intent of this subchapter that this subchapter, and in particular §§ 14-164-326 — 14-164-339, be supplemental to other constitutional or statutory provisions that may provide for the financing of capital improvements of a public nature or economic development projects.
(b) Nothing contained in this subchapter shall be deemed to be a restriction or limitation upon alternative means of financing previously available or hereafter made available to municipalities or counties for the purposes set forth in this subchapter.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-164-305
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:14-164-305
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 186fb11395c3aaa077ba9895a740cb1f82d791095476c87fe59e88057e49b03e
Source location: content.xml paragraph 37301
Stored source content
14-164-305. Subchapter supplemental.
(a) It is the specific intent of this subchapter that this subchapter, and in particular §§ 14-164-326 — 14-164-339, be supplemental to other constitutional or statutory provisions that may provide for the financing of capital improvements of a public nature or economic development projects.
(b) Nothing contained in this subchapter shall be deemed to be a restriction or limitation upon alternative means of financing previously available or hereafter made available to municipalities or counties for the purposes set forth in this subchapter.
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-164-326. Capital improvement bonds — Hotel and restaurant tax.
(a) Any municipality levying a tax upon the gross receipts of hotel and motel accommodations or upon the gross receipts of restaurants, cafes, cafeterias, and similar establishments is authorized to pledge all or a specified portion of the receipts of such tax to the retirement of bonds for capital improvements.
(b) However, no such pledge or the issuance of such bonds shall be effective unless the pledge or the issuance of the bonds has been approved by a majority of the electors of the municipality voting on the question at an election held substantially in the manner provided in § 14-164-328.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-164-326
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 14-164-326. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-164-339. Simultaneous pledge of local sales and use tax.
(a)(1) A municipality levying a local sales and use tax under § 26-73-113, § 26-75-201 et seq., or § 26-75-301 et seq. may pledge, simultaneously with the levy, all or a specified portion of the tax to retire bonds for capital improvements or economic development projects.
(2) The ballot form in a municipal election to levy a local sales and use tax pursuant to the provisions of § 26-75-208, § 26-75-308, or § 26-73-113 and to simultaneously pledge all or a specified portion of such tax to retire bonds as provided in this subchapter shall be headed with the question of approval or disapproval of such tax and shall be followed by the question or questions of the issuance of the bonds.
(3)(A) The question or questions of the issuance of bonds shall also contain a statement describing the extent to which the tax, if approved, may be pledged to retire the bonds which are approved by the voters of the municipality.
(B) The local sales and use tax or taxes authorized in § 14-164-327 may also be pledged to bonds approved pursuant to this section, and in such case, the question or questions of the issuance of the bonds shall contain a statement to that effect.
(4) The election shall be conducted as provided in § 14-164-309, and the bonds shall be authorized, issued, and secured as provided in this subchapter.
(b)(1) A county levying a local sales and use tax under § 26-73-113, § 26-74-201 et seq., § 26-74-301 et seq., or § 26-74-401 et seq. may pledge, simultaneously with the levy, all or a specified portion of the tax to retire bonds for capital improvements or economic development projects.
(2) The ballot form in a county election to levy a local sales and use tax pursuant to the provisions of § 26-74-
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-164-339
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 14-164-339. This identifies an authority to review, not proof of applicability.