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14-62-109. Public utilities.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-62-109. Public utilities.
(a) A public utility operating and organized as an improvement district and serving residents of the extinct municipal corporation shall continue in operation.
(b)(1)(A) A public utility operated by the extinct municipal corporation is transferred to the receiver.
(B) Funds held by the extinct municipal corporation in connection with the operation of the public utility are transferred to the receiver, including without limitation customer deposits and debt reserve funds.
(2) The receiver shall continue to:
(A) Operate the public utility;
(B) Collect all fees and taxes due to and all funds associated with the public utility; and
(C) Continue to pay any bonded indebtedness of the public utility.
(3) The transfer of the public utility to the receiver is subject to any liens held on the public utility that existed at the time of the transfer under this chapter, including without limitation mortgages and security interests.
(4) If a public utility is transferred under this section, the Department of Finance and Administration shall continue to collect as provided by law pledged or dedicated sales and use taxes levied for bonded indebtedness of the public utility and remit the collections to the receiver under § 14-62-105(b) until the indebtedness is satisfied.
(c) Within sixty (60) days of the appointment of the receiver under § 14-62-104, the receiver shall publish a notice in a newspaper with general circulation in the county in which the municipal corporation is located that the opportunity for the acquisition of the public utility shall:
(1)(A) Be first extended to an adjacent municipality located within five (5) miles of the extinct municipal corporation, and if a majority of the governing body of the adjacent municipal
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-62-109
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. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:14-62-109
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 9f9b897110c761d75e25fd97d27101b822ea395e686e919f6292b391d9be92c0
Source location: content.xml paragraph 19674
Stored source content
14-62-109. Public utilities.
(a) A public utility operating and organized as an improvement district and serving residents of the extinct municipal corporation shall continue in operation.
(b)(1)(A) A public utility operated by the extinct municipal corporation is transferred to the receiver.
(B) Funds held by the extinct municipal corporation in connection with the operation of the public utility are transferred to the receiver, including without limitation customer deposits and debt reserve funds.
(2) The receiver shall continue to:
(A) Operate the public utility;
(B) Collect all fees and taxes due to and all funds associated with the public utility; and
(C) Continue to pay any bonded indebtedness of the public utility.
(3) The transfer of the public utility to the receiver is subject to any liens held on the public utility that existed at the time of the transfer under this chapter, including without limitation mortgages and security interests.
(4) If a public utility is transferred under this section, the Department of Finance and Administration shall continue to collect as provided by law pledged or dedicated sales and use taxes levied for bonded indebtedness of the public utility and remit the collections to the receiver under § 14-62-105(b) until the indebtedness is satisfied.
(c) Within sixty (60) days of the appointment of the receiver under § 14-62-104, the receiver shall publish a notice in a newspaper with general circulation in the county in which the municipal corporation is located that the opportunity for the acquisition of the public utility shall:
(1)(A) Be first extended to an adjacent municipality located within five (5) miles of the extinct municipal corporation, and if a majority of the governing body of the adjacent municipality votes to acquire the public utility under this subdivision (c)(1)(A), the acquisition transaction shall be completed within one hundred eighty (180) days of the appointment of the receiver under § 14-62-104.
(B) If more than one (1) adjacent municipality located within five (5) miles of the extinct municipal corporation votes to acquire the public utility under subdivision (c)(1)(A) of this section, the adjacent municipalities shall be given priority based on population from largest to smallest;
(2)(A) Be next extended to the county in which the extinct municipal corporation is located if the public utility is not acquired by an adjacent municipality under subdivision (c)(1) of this section.
(B) If a majority of the governing body of the county in which the extinct municipal corporation is located votes to acquire the public utility under subdivision (c)(2)(A) of this section, the acquisition transaction shall be completed within two hundred seventy (270) days of the appointment of the receiver under § 14-62-104;
(3)(A)(i) Be next extended to an adjacent public utility operated and organized as an improvement district and located within five (5) miles of the extinct municipal corporation if the public utility is not acquired by the county in which the extinct municipal corporation is located under subdivision (c)(2) of this section.
(ii) If a majority of the governing body of the adjacent public utility improvement district votes to acquire the public utility under subdivision (c)(3)(A)(i) of this section, the acquisition transaction shall be completed within three hundred sixty (360) days of the appointment of the receiver under § 14-62-104.
(B) If more than one (1) adjacent public utility improvement district located within five (5) miles of the extinct municipal corporation votes to acquire the public utility under subdivision (c)(3)(A) of this section, the adjacent public utility improvement districts shall be given priority based on evidence of economic viability and the number of customers served from largest to smallest;
(4) Be next extended to an entity other than the entities listed in subdivisions (c)(1)-(3) of this section if none of the entities listed in subdivisions (c)(1)-(3) of this section acquire the public utility of the extinct municipal corporation, and the acquisition transaction shall be completed within four hundred fifty (450) days of the appointment of the receiver under § 14-62-104; and
(5)(A)(i)(a) Not be further extended and remain with the receiver if none of the entities in subdivisions (c)(1)-(4) of this section acquire the public utility of the extinct municipal corporation.
(b) The receiver shall establish a suburban improvement district to operate the public utility using the authority set out in § 14-92-201 et seq. for the purpose of the institution of bankruptcy proceedings for the public utility.
(ii)(a) A suburban improvement district created under subdivision (c)(5)(A)(i) of this section is created by operation of law without the statutory requirements under § 14-92-201 et seq. concerning petitions or hearings or other statutory requirements at the discretion of the circuit court of the Sixth Judicial District.
(b) The receiver shall serve as the board of commissioners, and the boundaries of the suburban improvement district created under subdivision (c)(5)(A)(i) of this section shall include the service area of the public utility of the extinct municipal corporation.
(iii) A suburban improvement district created under subdivision (c)(5)(A)(i) of this section is considered an instrumentality of the state for purposes of bankruptcy proceedings.
(B) At the conclusion of any bankruptcy proceeding instituted under subdivision (c)(5)(A) of this section, the public utility shall be transferred to the county.
(d) The receiver may request a reasonable extension of time from the circuit court of the Sixth Judicial District for the purpose of the completion of an acquisition of a public utility under subsection (c) of this section.
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-62-104. Receiver — Appointment — Oath — Duties — Authority.
(a) Within five (5) business days of receipt of the order revoking the charter of a municipal corporation under § 14-62-102, the Governor shall appoint a qualified officer, to be known as the receiver, for an extinct municipal corporation whose charter has been revoked under this chapter.
(b) A receiver shall:
(1) Take the oath required of other collectors of public revenue and give bond with good sureties to be approved by the circuit court of the Sixth Judicial District;
(2) Enter upon the duties of the office as soon as appointed and qualified;
(3) Take possession of:
(A) All books, papers, and documents pertaining to the assessment and collection of taxes of the extinct municipal corporation; and
(B) Any property belonging to the extinct municipal corporation; and
(4) Resolve the outstanding indebtedness of the extinct municipal corporation pursuant to this chapter.
(c)(1) The receiver may be removed at any time by the circuit court of the Sixth Judicial District for good cause, including failure to discharge one (1) or more duties imposed by this chapter.
(2) Removal may be upon:
(A) The circuit court's own motion; or
(B) The motion of:
(i) A person interested as an inhabitant of the extinct municipal corporation;
(ii) A creditor of the extinct municipal corporation;
(iii) The county judge of the county in which the extinct municipal corporation was located; or
(iv) The Attorney General on behalf of the state.
(3) A substitute receiver shall be appointed in the same manner as the initial receiver appointed under this chapter.
(4) The office of the receiver shall cease and terminate at the time a final order of dissolution is entered under § 14-62-114.
(d) The receiv
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-62-104
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 14-62-104. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-62-105. Reports and collections by receiver.
(a) Every six (6) months, a receiver for an extinct municipal corporation appointed under § 14-62-104 shall make to the circuit court of the Sixth Judicial District a clear and complete statement reflecting all moneys collected, all taxes collected and settled, and all taxes that remain to be collected and settled.
(b)(1) The Department of Finance and Administration shall continue to administer and to collect as provided by law all sales and use taxes of the extinct municipal corporation.
(2) The department shall remit collection of the taxes under subdivision (b)(1) of this section to the receiver appointed under § 14-62-104.
(c)(1)(A) At least one (1) time per month, the receiver shall pay into the State Treasury the whole sum collected or received from taxes.
(B) The receiver shall distinguish the respective sources from which the moneys paid in are derived, reflecting what is collected from taxes for general purposes and what is collected for special purposes, and designating the general or special purpose, so that the moneys may be kept separate in the State Treasury.
(2)(A) At least one (1) time per month, the receiver shall pay into a bank approved under § 19-8-105 the whole sum collected and received from any nontax revenue sources.
(B) The receiver shall distinguish the respective sources from which the moneys paid in are derived, so that the moneys may be kept separate in the bank under subdivision (c)(2)(A) of this section.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-62-105
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 14-62-105. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-92-201. Definitions.
As used in this subchapter, unless the context otherwise requires:
(1) “Last federal census” means the most recent federal census taken prior to the filing of any petition as provided in this subchapter for the formation of any suburban improvement district;
(2) “Majority in value” means a majority in assessed value as shown by the latest county assessment records for general taxes;
(3) “Land” or “real property” means all property subject to taxation for the purposes of this subchapter;
(4) “County court,” “county judge,” or “county clerk” means “circuit court,” “circuit judge,” or “circuit clerk” in the cases where the district contains lands in more than one (1) county;
(5) “Nearby municipalities” means municipalities within ten (10) miles of any boundary of the district.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-92-201
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 14-92-201. This identifies an authority to review, not proof of applicability.