14-164-405. Bonds — Issuance generally.

Arkansas Code — all titles (historical 2020) · legal_authorities

14-164-405. Bonds — Issuance generally.

14-164-405. Bonds — Issuance generally. (a) Municipalities and counties are authorized to issue bonds for capital improvements and performance-based efficiency projects within, near, or within and near the municipality or county. These bonds shall be issued pursuant to an ordinance adopted by the legislative body specifying the principal amount of bonds to be issued, the purpose or purposes for which the bonds are to be issued, and provisions with respect to the bonds. (b) If determined to be in the interest of the municipality or county, a portion of the bonds may be used to finance a project or a performance-based efficiency project, and expenses in connection with the issuance of the bonds and a major portion of the proceeds may be invested in consideration of a contract for the full term of the bonds or a shorter period at a rate or rates at least sufficient to provide for, alone or with other revenues that may be pledged, debt service for the bonds.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-164-405

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.