Browse Arkansas Code titles and sections
14-170-208. Refunding bonds.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-170-208. Refunding bonds.
(a)(1) Bonds may be issued under this subchapter for the purpose of refunding any obligations issued under this subchapter.
(2) Refunding bonds may be combined with bonds issued under the provisions of § 14-170-207 into a single issue.
(b)(1) When bonds are issued under this section for refunding purposes, the bonds may either be sold or delivered in exchange for the outstanding obligations.
(2) If sold, the proceeds may be either applied to the payment of the obligations refunded or deposited in escrow for the retirement of them.
(c)(1) All bonds issued under this section shall in all respects be authorized, issued, and secured in the manner provided for other bonds issued under this subchapter and shall have all the attributes of those bonds.
(2) The ordinance or order under which 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 by them.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-170-208
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.
Issuing source page ↗
Authority boundary: historical statutory source snapshot not current law.
Open the recorded source website ↗
Record provenance
Stable record: arkansas_code:legal_authorities:14-170-208
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 3f14c17f60dcc6a2cdb902261709f2aa23b03e92bec51fc9b8aa3e4cab6de6c4
Source location: content.xml paragraph 41274
Stored source content
14-170-208. Refunding bonds.
(a)(1) Bonds may be issued under this subchapter for the purpose of refunding any obligations issued under this subchapter.
(2) Refunding bonds may be combined with bonds issued under the provisions of § 14-170-207 into a single issue.
(b)(1) When bonds are issued under this section for refunding purposes, the bonds may either be sold or delivered in exchange for the outstanding obligations.
(2) If sold, the proceeds may be either applied to the payment of the obligations refunded or deposited in escrow for the retirement of them.
(c)(1) All bonds issued under this section shall in all respects be authorized, issued, and secured in the manner provided for other bonds issued under this subchapter and shall have all the attributes of those bonds.
(2) The ordinance or order under which 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 by them.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-170-207. Bonds generally.
(a)(1) The issuance of bonds shall be by ordinance of the municipality or order of the county court.
(2) As the ordinance or order authorizing their issuance may provide, the bonds may:
(A) Be coupon bonds payable to bearer, but subject to registration as to principal or as to principal and interest;
(B) Be exchangeable for bonds of another denomination;
(C) Be in such form and denominations;
(D) Be made payable at such place or places within or without the state;
(E) Be issued in one (1) or more series;
(F) Bear such date or dates;
(G) Mature at such time or times, not exceeding forty (40) years from their respective dates;
(H) Bear interest at such rate or rates;
(I) Be payable in such medium of payment;
(J) Be subject to such terms of redemption; and
(K) Contain such terms, covenants, and conditions including, without limitation, those pertaining to:
(i) The custody and application of the proceeds of the bonds;
(ii) The collection and disposition of revenues;
(iii) The maintenance and investment of various funds and reserves;
(iv) The nature and extent of the security and pledging of revenues;
(v) The rights, duties, and obligations of the municipality or county and the trustee for the holders and registered owners of the bonds; and
(vi) The rights of the holders and registered owners of the bonds.
(3) There may be successive bond issues for the purpose of financing the same tourism project. There may also be successive bond issues for financing the cost of reconstructing, replacing, constructing additions to, extending, improving, and equipping tourism projects already in existence, whether or not originally financed by bonds issued under this subchapter, with each successive issue to be authorized
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-170-207
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 14-170-207. This identifies an authority to review, not proof of applicability.