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14-204-108. Refunding bonds.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-204-108. Refunding bonds.
(a) Revenue bonds may be issued under this chapter for the purpose of refunding any obligations issued under this chapter. Such refunding bonds may be combined with bonds issued under the provisions of § 14-204-105 into a single issue.
(b) When bonds are issued under this section for refunding purposes, such bonds may either be sold or delivered in exchange for the outstanding obligations. If sold, the proceeds may be either applied to the payment of the obligations refunded or deposited in escrow for the retirement thereof.
(c) The ordinance or order under which such 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 thereby.
(d) Such refunding bonds shall be issued and secured in the manner provided for other bonds issued under this chapter and shall have all the attributes of such bonds.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-204-108
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:14-204-108
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 91291507e95b6b57df68a1332958ea2e991ee20457b3409225f071e33134f95d
Source location: content.xml paragraph 46104
Stored source content
14-204-108. Refunding bonds.
(a) Revenue bonds may be issued under this chapter for the purpose of refunding any obligations issued under this chapter. Such refunding bonds may be combined with bonds issued under the provisions of § 14-204-105 into a single issue.
(b) When bonds are issued under this section for refunding purposes, such bonds may either be sold or delivered in exchange for the outstanding obligations. If sold, the proceeds may be either applied to the payment of the obligations refunded or deposited in escrow for the retirement thereof.
(c) The ordinance or order under which such 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 thereby.
(d) Such refunding bonds shall be issued and secured in the manner provided for other bonds issued under this chapter and shall have all the attributes of such bonds.
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-204-105. Authorization to issue bonds.
(a) Municipalities and counties are authorized to use any available revenues for the accomplishment of the purposes set forth in § 14-204-104 and are authorized to issue revenue bonds and to use the proceeds thereof for the accomplishment of the purposes set forth in § 14-204-104, either alone or together with other available funds and revenues.
(b) The amount of bonds issued shall be sufficient to pay all costs of accomplishing such purposes, all costs of issuing the bonds, the amount necessary for a reserve, if desirable, the amount necessary to provide for debt service on the bonds until revenues for the payment thereof are available, and any other costs of whatever nature incidental to the accomplishment of such purposes.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-204-105
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 14-204-105. This identifies an authority to review, not proof of applicability.