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14-169-1009. Proceeds from sale or lease.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-169-1009. Proceeds from sale or lease.
(a) In the event any county or municipality acquires surplus federal properties and subsequently sells or leases them, the proceeds from the sale or leasing shall first be applied to the payment of the debt created by the acquisition of the property, if any, in accordance with the terms of the mortgage or bond indebtedness.
(b) After payment of this indebtedness, any surplus shall be placed in the county or municipal general revenue fund.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-169-1009
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:14-169-1009
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 83b2981dda62bd8f6b6ccc5552db73b75d757127b3d89fc8a88a47ae7bb02881
Source location: content.xml paragraph 41042
Stored source content
14-169-1009. Proceeds from sale or lease.
(a) In the event any county or municipality acquires surplus federal properties and subsequently sells or leases them, the proceeds from the sale or leasing shall first be applied to the payment of the debt created by the acquisition of the property, if any, in accordance with the terms of the mortgage or bond indebtedness.
(b) After payment of this indebtedness, any surplus shall be placed in the county or municipal general revenue fund.
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