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14-217-103. Definitions.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-217-103. Definitions.
As used in this chapter:
(1) “Assessment secured bonds” means bonds described in and issued under the authority of § 14-217-109(b);
(2) “Board of commissioners” or “board” means the board of commissioners, board of directors, board of improvement, or other governing board of a district;
(3) “Bonds” means bonds issued under the authority of this chapter, whether assessment secured bonds or revenue bonds;
(4) “City clerk” means city clerk, city recorder, town recorder, or other similar office hereafter created or established;
(5) “Commissioner” means any member of a board of commissioners;
(6) “Consolidated utility district” or “district” means any municipal improvement district created before March 19, 1975, pursuant to special act or general act, or created after March 19, 1975, pursuant to this chapter, for the purpose of constructing or operating and maintaining a consolidated utility system;
(7) “Consolidated utility system”, “consolidated system”, or “system” means any system of public utilities together with any facilities related to or necessary or appropriate to the construction, operation, or maintenance consisting of:
(A) A combined water system and sewer system; or
(B) An electric system consolidated or combined with a water system or with a sewer system;
(8) “Construct” or “construction” means to acquire, construct, reconstruct, extend, improve, install, or equip any system or portion thereof;
(9) “Electric system” means any system for the production, generation, transmission, or delivery of electricity;
(10) “Governing body” means the council, board of directors, commission, or other governing body of a municipality;
(11) “Major utility facility” or “major facility” means any electric generating plant or bu
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-217-103
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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Stable record: arkansas_code:legal_authorities:14-217-103
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 48be494531952f6ec62e9bffe437675675c7f37371bd7c002fdfbf3b5634277f
Source location: content.xml paragraph 46628
Stored source content
14-217-103. Definitions.
As used in this chapter:
(1) “Assessment secured bonds” means bonds described in and issued under the authority of § 14-217-109(b);
(2) “Board of commissioners” or “board” means the board of commissioners, board of directors, board of improvement, or other governing board of a district;
(3) “Bonds” means bonds issued under the authority of this chapter, whether assessment secured bonds or revenue bonds;
(4) “City clerk” means city clerk, city recorder, town recorder, or other similar office hereafter created or established;
(5) “Commissioner” means any member of a board of commissioners;
(6) “Consolidated utility district” or “district” means any municipal improvement district created before March 19, 1975, pursuant to special act or general act, or created after March 19, 1975, pursuant to this chapter, for the purpose of constructing or operating and maintaining a consolidated utility system;
(7) “Consolidated utility system”, “consolidated system”, or “system” means any system of public utilities together with any facilities related to or necessary or appropriate to the construction, operation, or maintenance consisting of:
(A) A combined water system and sewer system; or
(B) An electric system consolidated or combined with a water system or with a sewer system;
(8) “Construct” or “construction” means to acquire, construct, reconstruct, extend, improve, install, or equip any system or portion thereof;
(9) “Electric system” means any system for the production, generation, transmission, or delivery of electricity;
(10) “Governing body” means the council, board of directors, commission, or other governing body of a municipality;
(11) “Major utility facility” or “major facility” means any electric generating plant or bulk water supply facility and related necessary appurtenant land and land rights, substation, fuel, fuel handling and storage equipment, and similar necessary equipment;
(12) “Municipality” means any city of the first class, city of the second class, or incorporated town;
(13) “Person” means any natural person, firm, corporation, association, public agency located within or outside the State of Arkansas, or other legally recognized entity;
(14) “Public utility corporation” means any public utility as defined in § 23-1-101;
(15) “Revenue bonds” means bonds described in and under the authority of § 14-217-109(c);
(16) “Sewer system” means any system for the collection, transmission, treatment, or disposal of liquid or solid industrial or domestic waste; and
(17) “Water system” means any system for the acquisition, treatment, storage, transmission, or delivery of water.
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-217-109. Payment of costs — Authority to use funds and revenues and to issue bonds.
(a) Consolidated utility districts are authorized to use any available funds and revenues to pay and provide for costs of accomplishing any of the purposes authorized by this chapter and are authorized to sell and issue bonds and to use the proceeds thereof to pay and provide for costs of accomplishing construction under this chapter, either alone or with other available funds and revenues. The amount of bonds issued shall be sufficient to pay all costs of accomplishing the construction, all costs of issuing the bonds, amounts necessary for reserves, if desirable, the amount necessary to provide for debt service on the bonds until funds for the payment thereof are available, and any other costs of whatever nature necessary or appropriate to the accomplishment of the construction.
(b)(1) Bonds issued by the district may be assessment-secured bonds. The district may pledge for the security and payment of assessment-secured bonds all or any specified portion of the uncollected assessments of benefits levied by the district. As additional security, the district may pledge for the security and payment of assessment-secured bonds all or any specified portion of the revenues including, without limitation, lease rentals, derived or to be derived by the district from any systems owned or operated by the district.
(2) In the resolution or trust indenture authorizing or securing assessment-secured bonds, the district may provide for suspension of collection of assessments or taxes and the use of other funds or revenues for payment of such bonds, upon terms and conditions set forth in the resolution or trust indenture.
(c)(1) Bonds issued by the district may be revenue bonds. The district
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-217-109
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 14-217-109. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-1-101. Definitions.
As used in this act, unless the context otherwise requires:
(1) “Affiliated interest with a public utility” includes the following:
(A) Every corporation and person owning or holding directly or indirectly twenty-five percent (25%) or more of the voting securities of the public utility;
(B) Every corporation or person in any chain of successive ownership, or holding, of twenty-five percent (25%) or more of the voting securities of that public utility;
(C) Every corporation, twenty-five percent (25%) or more of whose voting securities is owned by any person or corporation owning twenty-five percent (25%) or more of the voting securities of the public utility or is owned by any person or corporation in any chain of successive ownership of twenty-five percent (25%) or more of the voting securities; and
(D) Every person who is an officer or director of that public utility or of any corporation in any chain of successive ownership or holding of twenty-five percent (25%) or more of the voting securities of the public utility;
(2) “Commission” means the Arkansas Public Service Commission or the Arkansas Department of Transportation with respect to the particular public utilities and matters over which each agency has jurisdiction;
(3) “Commissioner” means one (1) of the commissioners of the Arkansas Public Service Commission with respect to the particular public utilities and matters over which that commission has jurisdiction;
(4) “Corporation” includes without limitation a private corporation, an association, a joint-stock association, a business trust, an electric cooperative corporation, and a limited liability company providing service for charge or compensation in any area or from any facility for which the commission has granted a
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-1-101
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 23-1-101. This identifies an authority to review, not proof of applicability.