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26-74-306. Pledge of revenues.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-74-306. 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 purposes of §§ 26-74-310 and 26-74-313.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-74-306
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:26-74-306
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 4a6fce1e9384f75b5aa6cc5ba16f6af78543638488d82ed0ba5d8b2f417e9d6f
Source location: content.xml paragraph 32800
Stored source content
26-74-306. 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 purposes of §§ 26-74-310 and 26-74-313.
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Arkansas Code — all titles (historical 2020) · legal_authorities
26-74-310. Abolition of tax.
(a) In any county in which a local sales tax has been levied pursuant to this subchapter, and all or any portion pledged to secure lease rentals or the payment of bonds as authorized by this subchapter, that portion of the tax pledged to lease rentals or bonds shall not be abolished so long as any of the lease is effective or such bonds are outstanding.
(b)(1) The county may abolish all or that portion of the sales tax that is not pledged to lease rentals or outstanding bonds after, and only after, an election called in the same manner as provided in § 26-74-307 or by a petition of the qualified voters of the county.
(2) As to such a petition of the qualified voters, the provisions of Arkansas Constitution, Amendment 7 shall govern.
(3) The ballot title for use in any such election shall be the same as indicated in § 26-74-308, except that the word “ABOLITION” shall be substituted for the word “ADOPTION” as it appears in the ballot title set forth in that section.
(4) The effective date of any affirmative vote to abolish such tax shall correspond to the dates indicated in § 26-74-309 for the initial effective date of such tax.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-74-310
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 26-74-310. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-74-313. Disposition of funds.
(a) 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. The secretary shall determine the population of the unincorporated area of each of the counties and shall furnish the information to the Treasurer of State.
(b) Except as set forth in subsections (c), (e), and (f) of this section, any tax collected by the secretary under this subchapter on behalf of any county shall be deposited with the Treasurer of State in trust and shall be kept in a separate suspense account.
(c) Any moneys collected by the secretary, as indicated by a certified copy of an ordinance of the quorum court of the county, previously filed with the secretary and the Treasurer of State, which are pledged to secure the payment of lease rentals or bonds authorized by this subchapter shall not be deposited into the State Treasury but shall be deposited by the Treasurer of State into banks designated by the county, as cash funds, and transmitted to the county subject to the charges payable to the State of Arkansas set forth in subsection (d) of this section. Charges deducted shall be transmitted to the Treasurer of State.
(d)(1) The Treasurer of State shall transmit to the treasurer or financial officer of each city and county its per capita share, after deducting the amount required for claims, overpayments, and bad checks, as certified by the secretary.
(2)(A) Except as is otherwise provided in subdivision (d)(8) of this section, the last official federal decennial census or later special census that included the county as a whole shall be used in computing the per capita share that each
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-74-313
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. The source passage cites 26-74-313. This identifies an authority to review, not proof of applicability.