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14-164-507. Bonds — Authorization to issue — Amount.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-164-507. Bonds — Authorization to issue — Amount.
Municipalities and counties are authorized to use any available revenues for the accomplishment of the purposes set forth in § 14-164-506, and are authorized to issue revenue bonds and to use the proceeds thereof for the accomplishment of the purposes set forth in § 14-164-506, either alone or together with other available funds and revenues. The bonds may be issued in an amount sufficient to pay all costs of accomplishing the specified purposes; all costs of issuing the bonds; the amount necessary for a reserve, if desirable; the amount necessary to provide for debt service on the bonds until revenues for the payment thereof are available; and any other costs of whatever nature necessarily incidental to the accomplishment of the specified purposes. In addition, revenue bonds are authorized for the purpose of refunding bonds as provided in § 14-164-525.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-164-507
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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Record provenance
Stable record: arkansas_code:legal_authorities:14-164-507
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 59fa7f30e4daf95e175ab7dff4db7c76109b81737c7a34e4517ad011fec557f5
Source location: content.xml paragraph 38234
Stored source content
14-164-507. Bonds — Authorization to issue — Amount.
Municipalities and counties are authorized to use any available revenues for the accomplishment of the purposes set forth in § 14-164-506, and are authorized to issue revenue bonds and to use the proceeds thereof for the accomplishment of the purposes set forth in § 14-164-506, either alone or together with other available funds and revenues. The bonds may be issued in an amount sufficient to pay all costs of accomplishing the specified purposes; all costs of issuing the bonds; the amount necessary for a reserve, if desirable; the amount necessary to provide for debt service on the bonds until revenues for the payment thereof are available; and any other costs of whatever nature necessarily incidental to the accomplishment of the specified purposes. In addition, revenue bonds are authorized for the purpose of refunding bonds as provided in § 14-164-525.
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-164-506. Authority to obtain and develop industry.
Any municipality and any county is authorized to own, acquire, construct, reconstruct, extend, equip, improve, operate, maintain, sell, lease, contract concerning, or otherwise deal in or dispose of industrial facilities of any and every nature whatever that can be used in securing or developing industry within or near the municipality or county.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-164-506
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 14-164-506. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-164-525. Refunding bonds.
(a) Revenue bonds may be issued under this subchapter for the purpose of refunding any obligations issued under this subchapter or similar acts.
(b) The refunding bonds may be combined with bonds issued under the provisions of § 14-164-507 into a single issue.
(c) When bonds are issued under this section for refunding purposes, such bonds may either be sold or delivered in exchange for the outstanding obligations.
(d) If sold, the proceeds may be either applied to the payment of the obligations refunded or deposited in escrow for the retirement thereof.
(e) The ordinance or order under which the refunding bonds are issued may provide that any of the refunding bonds shall have the same priority of lien on the revenues pledged for their payment as was enjoyed by the obligations refunded thereby.
(f) The refunding bonds shall be issued and secured in the manner provided for other bonds issued under this subchapter and shall have all the attributes of such bonds.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-164-525
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 14-164-525. This identifies an authority to review, not proof of applicability.