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14-92-304. Resolution for financial matters.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-92-304. Resolution for financial matters.
(a) After the execution of the contract for consolidation, the commissioners provided for in § 14-92-302 shall adopt a resolution setting forth their estimate of the cost of retiring outstanding bond issues, together with the cost of the contemplated improvements and betterments, and a brief description thereof, and provide for the issuance of revenue bonds including the amount, rate of interest, time and place of payment, and other details connected with them.
(b) The resolution shall also:
(1) Declare that a statutory mortgage lien shall exist upon the property of the consolidated system;
(2) Fix the minimum rates to be collected prior to the payment of the bonds; and
(3) Pledge the revenues derived from its services for the purpose of paying the bonds and interest.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-92-304
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:14-92-304
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 923f47396e3e58946cff8eae6c43eb8bd229f64c9329bbb84f0e49821d2a4618
Source location: content.xml paragraph 25905
Stored source content
14-92-304. Resolution for financial matters.
(a) After the execution of the contract for consolidation, the commissioners provided for in § 14-92-302 shall adopt a resolution setting forth their estimate of the cost of retiring outstanding bond issues, together with the cost of the contemplated improvements and betterments, and a brief description thereof, and provide for the issuance of revenue bonds including the amount, rate of interest, time and place of payment, and other details connected with them.
(b) The resolution shall also:
(1) Declare that a statutory mortgage lien shall exist upon the property of the consolidated system;
(2) Fix the minimum rates to be collected prior to the payment of the bonds; and
(3) Pledge the revenues derived from its services for the purpose of paying the bonds and interest.
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-92-302. Commission members.
(a)(1) When two (2) or more districts enter into a contract described in § 14-92-301, they shall jointly petition the county judge of the county in which the districts lie to appoint a commission of three (3) members, all of whom shall be property owners and electors within the territory affected.
(2) In the event there are more than two (2) districts joining in the petition, no two (2) of the commissioners shall be appointed from the same district.
(b) The members of the commission shall proceed to organize by:
(1) First taking the oath of office as prescribed for a commissioner of a suburban improvement district;
(2) Electing a chairman and a secretary; and
(3) Selecting a name for the consolidated system.
(c)(1) The commission members shall have the authority to carry out the powers conferred by this subchapter.
(2) In all other respects, the commission shall be governed by and have all the authority of § 14-234-301 et seq.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-92-302
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 14-92-302. This identifies an authority to review, not proof of applicability.