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14-168-319. Redevelopment bonds or notes — Special fund for repayment.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-168-319. Redevelopment bonds or notes — Special fund for repayment.
(a) Redevelopment bonds and notes are payable out of the special fund created for each redevelopment district under this subchapter.
(b)(1) The local governing body shall irrevocably pledge all or part of the special fund to the payment of the bonds or notes.
(2) The special fund, or the designated part thereof, may thereafter be used only for the payment of the bonds or notes and their interest until they have been fully paid.
(c) A holder of the bonds or notes shall have a lien against the special fund for payment of the bonds or notes and interest on them and may bring suit, either at law or in equity, to enforce the lien.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-168-319
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:14-168-319
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: b013e01e3655743d42061dc52a45be2a89d84a5b79d52c3a81396cdd5a657285
Source location: content.xml paragraph 39530
Stored source content
14-168-319. Redevelopment bonds or notes — Special fund for repayment.
(a) Redevelopment bonds and notes are payable out of the special fund created for each redevelopment district under this subchapter.
(b)(1) The local governing body shall irrevocably pledge all or part of the special fund to the payment of the bonds or notes.
(2) The special fund, or the designated part thereof, may thereafter be used only for the payment of the bonds or notes and their interest until they have been fully paid.
(c) A holder of the bonds or notes shall have a lien against the special fund for payment of the bonds or notes and interest on them and may bring suit, either at law or in equity, to enforce the lien.
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