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14-169-1005. Funds for acquisition.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-169-1005. Funds for acquisition.
(a) Funds for the acquisition of surplus federal properties may be provided from general revenue sources, general mortgage loans, or revenue bonds which may be issued by the county, city, or town to provide funds.
(b)(1) The revenue bonds may bear interest at such rate or rates as provided in the ordinance authorizing their issuance. Bonds so issued shall:
(A) Be negotiable;
(B) Declare that a statutory mortgage lien shall exist on the property so acquired; and
(C) Be executed by the county judge and county clerk or municipal mayor and municipal clerk or recorder.
(2) The funds derived from the bonds shall be used exclusively for purposes for which they are issued.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-169-1005
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:14-169-1005
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 37a67e5c623a7566bb3e9cc4f5bcc45dba886b88caec4081719597a49ef33d05
Source location: content.xml paragraph 41009
Stored source content
14-169-1005. Funds for acquisition.
(a) Funds for the acquisition of surplus federal properties may be provided from general revenue sources, general mortgage loans, or revenue bonds which may be issued by the county, city, or town to provide funds.
(b)(1) The revenue bonds may bear interest at such rate or rates as provided in the ordinance authorizing their issuance. Bonds so issued shall:
(A) Be negotiable;
(B) Declare that a statutory mortgage lien shall exist on the property so acquired; and
(C) Be executed by the county judge and county clerk or municipal mayor and municipal clerk or recorder.
(2) The funds derived from the bonds shall be used exclusively for purposes for which they are issued.
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