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14-233-113. Refunding bonds — Issuance.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-233-113. Refunding bonds — Issuance.
(a) Bonds may be issued for the purpose of refunding any bonds issued under this chapter or any other interest-bearing indebtedness of the sanitation authority. Refunding bonds may be combined with bonds issued under the provisions of § 14-233-109 into a single issue.
(b) When refunding bonds are issued, they may either be sold or delivered in exchange for the bonds being refunded. If sold, the proceeds may either be applied to the payment of the bonds or indebtedness being refunded or deposited in escrow for the retirement thereof.
(c) The resolution under which refunding bonds are issued may provide that any of the refunding bonds shall have the same priority of lien on and security interest in sanitation authority revenues and the sanitation authority's properties as was enjoyed by the bonds refunded by them.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-233-113
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:14-233-113
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 99e04e60cbb1b25cf1caf9ef2d730e69997539278abb8ac9430cdde13fe3b839
Source location: content.xml paragraph 47845
Stored source content
14-233-113. Refunding bonds — Issuance.
(a) Bonds may be issued for the purpose of refunding any bonds issued under this chapter or any other interest-bearing indebtedness of the sanitation authority. Refunding bonds may be combined with bonds issued under the provisions of § 14-233-109 into a single issue.
(b) When refunding bonds are issued, they may either be sold or delivered in exchange for the bonds being refunded. If sold, the proceeds may either be applied to the payment of the bonds or indebtedness being refunded or deposited in escrow for the retirement thereof.
(c) The resolution under which refunding bonds are issued may provide that any of the refunding bonds shall have the same priority of lien on and security interest in sanitation authority revenues and the sanitation authority's properties as was enjoyed by the bonds refunded by them.
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-233-109. Bonds — Issuance, public hearing, execution, and sale.
(a) Sanitation authorities are authorized to use any available funds and revenues for the accomplishment of projects and may issue bonds, as authorized by this chapter, for the purpose of paying, financing, and refinancing project costs and accomplishing projects, either alone or together with other available funds and revenues.
(b)(1)(A) Prior to a sanitation authority's proposed issuance of bonds, the sanitation authority shall publish one (1) time in a newspaper of general circulation in each county that is a member of the sanitation authority and in each county in which a member of the sanitation authority is located:
(i) Notice of the proposed issuance of bonds;
(ii) The maximum principal amount of bonds contemplated to be sold;
(iii) A general description of the project contemplated to be financed or refinanced with bond proceeds; and
(iv) The date, time, and location of a public hearing at which members of the public may obtain further information regarding the bonds and the development of the project.
(B)(i) The location of the public hearing described in subdivision (b)(1)(A)(iv) of this section shall be in the county in which the project is located.
(ii) If the project is located in more than one (1) county, the location of the public hearing shall be in the county that has the greatest amount of territory of the counties in which the project is located.
(C) Notice under subdivision (b)(1)(A) of this section shall be published at least ten (10) days prior to the date of the hearing described in subdivision (b)(1)(A)(iv) of this section.
(2) A sanitation authority chair or his or her designee shall be responsible for conducting the hearing and shall request all public comment
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-233-109
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 14-233-109. This identifies an authority to review, not proof of applicability.