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26-74-206. Pledge of revenues.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-74-206. Pledge of revenues.
Any county levying the tax as permitted in this subchapter is authorized to pledge all or any part of the revenues which the county is entitled to receive from the tax levied pursuant to this subchapter to the payment of lease rentals or principal of and interest on bonds issued by such county under the authority of any other law in effect for the purpose of providing all or part of the funds for the construction, reconstruction, extension, equipment, acquisition, or improvement of any capital improvements of a public nature, or on bonds issued to refund such bonds, and such bonds, including the refunding bonds, shall be deemed to have been authorized by this subchapter for the purposes of §§ 26-74-210, 26-74-214, and 26-74-217.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-74-206
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:26-74-206
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: f6f00aeb81dee6a1e060ea4436a920b14c8f8f235c4f6c624bb93c5416150365
Source location: content.xml paragraph 32292
Stored source content
26-74-206. Pledge of revenues.
Any county levying the tax as permitted in this subchapter is authorized to pledge all or any part of the revenues which the county is entitled to receive from the tax levied pursuant to this subchapter to the payment of lease rentals or principal of and interest on bonds issued by such county under the authority of any other law in effect for the purpose of providing all or part of the funds for the construction, reconstruction, extension, equipment, acquisition, or improvement of any capital improvements of a public nature, or on bonds issued to refund such bonds, and such bonds, including the refunding bonds, shall be deemed to have been authorized by this subchapter for the purposes of §§ 26-74-210, 26-74-214, and 26-74-217.
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Arkansas Code — all titles (historical 2020) · legal_authorities
26-74-210. Resubmission of question of levy or repeal.
(a)(1) When the question of the levy or repeal of a county sales and use tax is submitted to the electors and the proposition is approved or defeated, the question shall not again be submitted to the electors by ordinance of the quorum court of the county or by petition of electors at a special or general election for a period of six (6) months from the date the proposition was last voted upon.
(2)(A) A petition requesting that the issue be submitted to the electors of the county shall contain the signatures of at least fifteen percent (15%) of the electors of the county as determined by the total number of votes cast for all candidates for circuit clerk of the county at the last preceding general election.
(B)(i) The petition shall be filed and verified by the county clerk.
(ii) If the petition is found to be sufficient, the issue shall be submitted to the electors at a special election on a date as may be requested by the petition.
(C) The special election shall be called in accordance with § 7-11-201 et seq. for a date not more than ninety (90) days from the date on which the county clerk certifies the sufficiency of the petition to the county board of election commissioners.
(b)(1) The ballot title for use in an election on the question of abolishing the county sales and use tax shall be the same as indicated in § 26-74-208, except that the word “ABOLISH” shall be substituted for the word “ADOPTION”.
(2) The effective date of any affirmative vote to abolish the tax shall correspond to the dates indicated in this subchapter for the initial effective date of the tax.
(c) Notwithstanding anything in this subchapter to the contrary, in any county in which a local sales and use tax has been adopted in
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-74-210
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 26-74-210. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-74-214. Disposition of funds.
(a)(1) The Secretary of the Department of Finance and Administration shall maintain a record of the total amount of tax collected pursuant to this subchapter and other subchapters authorizing county sales and use taxes in each county and shall deposit all such revenues with the Treasurer of State.
(2)(A) Upon receipt of the funds, the Treasurer of State shall deduct three percent (3%) of the funds as a charge by the state for its services as specified in this subchapter and all other subchapters authorizing county sales and use taxes and shall credit the three percent (3%) to the Constitutional Officers Fund and the State Central Services Fund.
(B) In addition, the Treasurer of State may retain in the Local Sales and Use Tax Trust Fund an amount not to exceed five percent (5%) of the total amount received from the tax levied by each county, to be used by the Treasurer of State to:
(i) Make remittances to the county for rebates made by the county for taxes in excess of amounts specified by the particular county ordinances paid by a taxpayer on a single transaction;
(ii) Make refunds for overpayment of the taxes; and
(iii) Redeem dishonored checks and drafts received and deposited into the Local Sales and Use Tax Trust Fund.
(b)(1) Except as set forth in subsections (f)-(h) of this section, all funds received by the Treasurer of State from the sales tax levied by each county after deducting the three percent (3%) for the Constitutional Officers Fund and the State Central Services Fund shall be deposited into the Local Sales and Use Tax Trust Fund and shall be credited to the account of the county in which it was collected.
(2)(A)(i) The Treasurer of State shall monthly transmit to the county treasurer and to the city treasu
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-74-214
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 26-74-214. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-74-217. Repeal upon levy of additional statewide gross receipts tax — Exception.
(a) Subject to the provisions of subsection (b) of this section, if the General Assembly shall levy an additional statewide gross receipts tax of one percent (1%) or more, the quorum court of any county which has levied a sales tax or a sales and use tax pursuant to the authority granted in this subchapter or under the provisions of § 26-74-301 et seq., may repeal that county sales tax or county sales and use tax by ordinance approved by the quorum court.
(b) In any county in which a local sales tax or sales and use tax has been adopted in the manner provided for in this subchapter and all or any portion pledged to secure the payment of lease rentals or bonds as authorized by this subchapter, that portion of the tax pledged to lease rentals or bonds shall not be repealed, abolished, or reduced so long as the lease is effective or any of the bonds are outstanding.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-74-217
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 26-74-217. This identifies an authority to review, not proof of applicability.