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14-164-328. Capital improvement bonds — Local sales and use tax — Election to authorize.
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. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:14-164-328
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 5435098420e328342e8bf67c889bbef6e746e914deb99d89f74b3b5b21a1db17
Source location: content.xml paragraph 37524
Stored source content
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.
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-164-309. Bonds generally — Election to authorize issuance.
(a) The question of the issuance of such bonds shall be submitted to the electors of the county or municipality at the general election or at a special election called for that purpose in accordance with § 7-11-201 et seq., as provided in the ordinance and held in the manner provided in this subchapter.
(b) Except as otherwise provided in this subchapter, the election shall be held and conducted in the same manner as a special or general election under the election laws of the state.
(c) The ordinance shall set forth the form of the ballot question or questions, which shall include a statement of the purpose or purposes for which the bonds are to be issued and the maximum rate of any ad valorem tax to be levied for payment of bonded indebtedness.
(d) Notice of the election shall be given by the clerk of the issuer by one (1) publication in a newspaper having general circulation within the municipality or county not less than ten (10) days prior to the election. No other publication or posting of a notice by any other public official shall be required.
(e) The chief executive officer of the municipality or county shall proclaim the results of the election by issuing a proclamation and publishing it one (1) time in a newspaper having general circulation within the municipality or county.
(f)(1) The results of the election as stated in the proclamation shall be conclusive unless suit is filed in the circuit court in the county in which the issuer is located within thirty (30) days after the date of the publication.
(2) No other action shall be maintained to challenge the validity of the bonds and of the proceedings authorizing the issuance of the bonds unless suit is filed in such circuit court wit
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-164-309
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 14-164-309. This identifies an authority to review, not proof of applicability.