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14-199-204. Apportionment ratio.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-199-204. Apportionment ratio.
At the end of each fiscal year of the operation of the municipally owned electric plant or water system, the profit from the operation of the plant or system shall be determined. If the council or city commission of the municipality shall determine that the profit or a part thereof shall be used toward the retirement of the bonded indebtedness of all the sewer or street improvement districts within the limits of such municipality, then the council, by ordinance as provided in § 14-199-203, shall allocate the amount to the various improvement districts within the limits of the municipality according to the following ratio: The total amount of bond and interest maturities of all sewer or street improvement districts within such municipality coming due during the particular fiscal year for which the profit of the plant and system was determined, shall be determined, and the ratio which the total bond and interest maturities of any sewer or street improvement district for such fiscal year bears to the total bond and interest maturities of all the sewer or street improvement districts for the fiscal year shall be the percentage used to allocate to each sewer or street improvement district, its proportion of the profit to be used for the retirement of the bonded indebtedness of any such district.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-199-204
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:14-199-204
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 82458670ddcf1d54c446184cbf280c714cb01c0427e862f4bec1ea7dd4bbd913
Source location: content.xml paragraph 44529
Stored source content
14-199-204. Apportionment ratio.
At the end of each fiscal year of the operation of the municipally owned electric plant or water system, the profit from the operation of the plant or system shall be determined. If the council or city commission of the municipality shall determine that the profit or a part thereof shall be used toward the retirement of the bonded indebtedness of all the sewer or street improvement districts within the limits of such municipality, then the council, by ordinance as provided in § 14-199-203, shall allocate the amount to the various improvement districts within the limits of the municipality according to the following ratio: The total amount of bond and interest maturities of all sewer or street improvement districts within such municipality coming due during the particular fiscal year for which the profit of the plant and system was determined, shall be determined, and the ratio which the total bond and interest maturities of any sewer or street improvement district for such fiscal year bears to the total bond and interest maturities of all the sewer or street improvement districts for the fiscal year shall be the percentage used to allocate to each sewer or street improvement district, its proportion of the profit to be used for the retirement of the bonded indebtedness of any such district.
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-199-203. Ordinance requirement.
The profits from the operation of any electric power plant or water system within any municipality shall not be used toward the retirement of the bonded indebtedness of any sewer or street improvement district within such city until the use of the profit for that purpose has first been authorized by an ordinance regularly adopted by the council of the municipality.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-199-203
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 14-199-203. This identifies an authority to review, not proof of applicability.