Browse Arkansas Code titles and sections
14-164-326. Capital improvement bonds — Hotel and restaurant tax.
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. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:14-164-326
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 0bc60b1cdbe49f203c23f843fad45e0c062c5bb2f192b40bb7acad4b160d438b
Source location: content.xml paragraph 37501
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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.
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-164-328. Capital improvement bonds — Local sales and use tax — Election to authorize.
(a)(1)(A) On the date of adoption of an ordinance levying a local sales and use tax or taxes to retire the bonds for capital improvements or economic development projects, or within thirty (30) days following the adoption of the ordinance, the municipality or county shall provide by ordinance for the calling and holding of an election on the issuance of the bonds to which the tax or taxes will be pledged as provided in § 14-164-309.
(B) The ordinance levying the tax may also call the election.
(2)(A) In addition to the requirements of § 14-164-309 and in lieu of a reference to an ad valorem tax, if none is to be levied, there shall be set forth on the ballot a statement that a local sales and use tax or taxes shall be levied and pledged to the retirement of the bonds approved by the voters.
(B) The percentage rate for each tax shall also be specified on the ballot.
(b)(1) Following the election, the chief executive of the municipality or county shall issue his or her proclamation of the results of the election with reference to the bonds.
(2) The proclamation shall be published one (1) time in a newspaper having general circulation in the municipality or county.
(c)(1) Any person desiring to challenge the results of the election as published in the proclamation shall file a challenge in the circuit court in which the municipality or county is located within thirty (30) days of the date of publication of the proclamation.
(2) Hearings of such matters of litigation shall be advanced on the docket of the courts and disposed of at the earliest feasible time.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-164-328
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 14-164-328. This identifies an authority to review, not proof of applicability.