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22-4-313. Bonds for construction of lodge and cabins.
Arkansas Code — all titles (historical 2020) · legal_authorities
22-4-313. Bonds for construction of lodge and cabins.
(a) The State Parks, Recreation, and Travel Commission, in accordance with the provisions of this subchapter, may contract with the Arkansas Development Finance Authority to provide for the issuance of bonds by the authority for the purpose of providing funds for the design, construction, and equipping of a lodge and cabins and related facilities and improvements to be located in Mount Magazine State Park and to provide funds for reasonable financing costs, including costs of issuance, capitalized interest, and a debt service reserve fund.
(b) In order to secure the bonds, the commission is authorized to pledge to pay debt service on the bonds, the fees, rates, tolls, and charges for the services, facilities, and commodities rendered by the properties and equipment of the state parks system pursuant to § 22-4-305.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 22-4-313
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:22-4-313
Source file: gov.ar.code.title.22.odt
Pages: Not recorded – Not recorded
Passage SHA-256: ac1422f0363ec8fbc26fab23ebcb38b18a6debd2803b63cfbfe56af7f7c6f7b5
Source location: content.xml paragraph 3693
Stored source content
22-4-313. Bonds for construction of lodge and cabins.
(a) The State Parks, Recreation, and Travel Commission, in accordance with the provisions of this subchapter, may contract with the Arkansas Development Finance Authority to provide for the issuance of bonds by the authority for the purpose of providing funds for the design, construction, and equipping of a lodge and cabins and related facilities and improvements to be located in Mount Magazine State Park and to provide funds for reasonable financing costs, including costs of issuance, capitalized interest, and a debt service reserve fund.
(b) In order to secure the bonds, the commission is authorized to pledge to pay debt service on the bonds, the fees, rates, tolls, and charges for the services, facilities, and commodities rendered by the properties and equipment of the state parks system pursuant to § 22-4-305.
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Arkansas Code — all titles (historical 2020) · legal_authorities
22-4-305. Authority of State Parks, Recreation, and Travel Commission to impose fees for services — Pledge of revenues from fees — Restrictions.
(a) The State Parks, Recreation, and Travel Commission is authorized and directed to prescribe and collect reasonable fees, rates, tolls, and charges for the services, facilities, and commodities rendered by the properties and equipment of the state parks system.
(b) The authority and power of the commission includes the right to erect and operate cabins, lodges, restaurants, and other facilities and improvements for the convenience of the public and the right to erect and lease to third parties for operation such facilities and improvements upon such terms as the commission may determine.
(c)(1) The commission shall revise the rates, fees, tolls, charges, and rentals whenever necessary to ensure that the revenues therefrom, together with other available funds, shall be fully sufficient to discharge all obligations of the commission pertaining to the principal of and interest on any bonds as the principal and interest become due.
(2) The gross revenue derived by the commission from all or any part of the properties and equipment of the state parks system may be pledged to the payment of revenue bonds authorized to be issued by this subchapter even though the proceeds from a particular bond issue may be used for the development or improvement of one (1) or more, but less than all, state parks.
(d) The bonds shall not constitute an indebtedness of the commission or of the State of Arkansas within the meaning of any constitutional or statutory limitation, and this shall be so stated on the face of each bond.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 22-4-305
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 22-4-305. This identifies an authority to review, not proof of applicability.