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14-186-410. Notice and hearing on issuance.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-186-410. Notice and hearing on issuance.
(a) After the passage of any ordinance pursuant to § 14-186-409, it shall be published one (1) time in a newspaper published in the municipality. If there is no newspaper so published, then the ordinance shall be published in a newspaper which has a bona fide general circulation within the municipality, with a notice to all persons concerned stating that:
(1) The ordinance has been passed;
(2) The municipality contemplated the issuance of the bonds described in the ordinance; and
(3) Any person interested may appear before the legislative body, upon a certain date, which shall be not less than ten (10) days subsequent to the publication of the ordinance and notice, and present protests.
(b) After the granting of any order, it shall be published one (1) time in a newspaper published in the county, with a notice to all persons concerned stating that:
(1) The order has been granted;
(2) The county contemplated the issuance of the bonds described in the order; and
(3) Any person interested may appear before the county court, upon a certain date, which shall be not less than ten (10) days subsequent to the publication of the order and notice, and present protests.
(c) At the hearing, all objections and suggestions shall be heard and the legislative body or county court shall take such action as it shall deem proper in the premises.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-186-410
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:14-186-410
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 7c8b9f998b13551426e37f388d9becc87b044d2751337acd374ad8ee7033f522
Source location: content.xml paragraph 43897
Stored source content
14-186-410. Notice and hearing on issuance.
(a) After the passage of any ordinance pursuant to § 14-186-409, it shall be published one (1) time in a newspaper published in the municipality. If there is no newspaper so published, then the ordinance shall be published in a newspaper which has a bona fide general circulation within the municipality, with a notice to all persons concerned stating that:
(1) The ordinance has been passed;
(2) The municipality contemplated the issuance of the bonds described in the ordinance; and
(3) Any person interested may appear before the legislative body, upon a certain date, which shall be not less than ten (10) days subsequent to the publication of the ordinance and notice, and present protests.
(b) After the granting of any order, it shall be published one (1) time in a newspaper published in the county, with a notice to all persons concerned stating that:
(1) The order has been granted;
(2) The county contemplated the issuance of the bonds described in the order; and
(3) Any person interested may appear before the county court, upon a certain date, which shall be not less than ten (10) days subsequent to the publication of the order and notice, and present protests.
(c) At the hearing, all objections and suggestions shall be heard and the legislative body or county court shall take such action as it shall deem proper in the premises.
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-186-409. Issuance of revenue bonds generally.
(a)(1) Whenever it shall be determined by the legislative body of any municipality or by the county court of any county to join with another municipality or other municipalities or another county or other counties, to construct, purchase, establish, equip, and operate a port under the provisions of this subchapter, it shall cause an estimate to be made of the costs of it and shall provide, by ordinance of the legislative body or by order of the county court, as the situation may require, for the issuance of revenue bonds, as provided in this subchapter.
(2)(A) The ordinance or order shall set forth a brief description of the contemplated improvement or improvements, the estimated costs of them, the amount, rate of interest, time and place of payment, and other details in connection with the issuance of the bonds.
(B) The bonds shall bear interest at such rate or rates, payable semiannually, and shall be payable at such times not exceeding forty (40) years from their date and at such places as shall be prescribed in the respective ordinance or order.
(b) The bonds shall be executed by each municipality joining in the undertaking by its mayor and clerk or recorder, and by each county joining in the undertaking by its county judge and county clerk.
(c)(1) Each ordinance and order shall also declare that a statutory mortgage lien shall exist upon the property so to be acquired or constructed, fix the minimum rate or rates on all freight or cargo that passes over or through the port, to be collected prior to the payment of all of the bonds, and shall pledge the revenue derived from the port for the purpose of paying the bonds, and the interest on them.
(2)(A) The pledge shall definitely fix and determine the amount
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-186-409
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 14-186-409. This identifies an authority to review, not proof of applicability.