14-234-204. Authority of cities and towns — Use of revenues.

Arkansas Code — all titles (historical 2020) · legal_authorities

14-234-204. Authority of cities and towns — Use of revenues.

14-234-204. Authority of cities and towns — Use of revenues. (a) Any city or incorporated town in the State of Arkansas may purchase or construct a waterworks system, or construct betterments and improvements to its waterworks system, or to a system owned by a waterworks district and operated by the city or town, as provided in this subchapter. (b) Any city operating a waterworks system owned, constructed, or acquired by a waterworks district is authorized to use the revenue derived from operating the waterworks system in paying revenue bonds and the interest on the bonds issued under and pursuant to the terms of this subchapter, and, for that purpose may create a sinking fund, and other items prescribed by this subchapter, operating expenses, and maintenance and improvement of the existing system owned by the district. The balance of the revenue remaining shall be paid by the city to the district to be used in retiring obligations of the district.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-234-204

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.