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27-76-406. Reimbursement for feasibility studies.
Arkansas Code — all titles (historical 2020) · legal_authorities
27-76-406. Reimbursement for feasibility studies.
(a) The following are allowable reimbursable expenses for studying the cost and feasibility of a transportation project as provided under this section:
(1) The preparation and issuance of bonds for the acquisition or construction of a proposed transportation project by a regional mobility authority; or
(2) The improvement, extension, or expansion of an existing transportation project of the regional mobility authority.
(b) Any of the following may pay all or part of the expenses under this section related to a transportation project and be reimbursed as provided under this section:
(1) One (1) or more municipalities, counties, or other governmental entities;
(2) A combination of municipalities, counties, or other governmental entities;
(3) A governmental entity or private entity with its place of business in this state; or
(4) An individual who resides in this state.
(c)(1) Funds expended under this section for a proposed transportation project are reimbursable without interest and with the consent of the regional mobility authority to the person paying the expenses as provided under this section.
(2) The reimbursements shall be paid out of the proceeds from revenue bonds issued for or other moneys that may be used for the acquisition, construction, improvement, extension, expansion, maintenance, repair, or operation of the transportation project.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 27-76-406
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:27-76-406
Source file: gov.ar.code.title.27.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 3f876651dbef91d16baf6fc7c5d06fb7f6464c70d082269fe45c9fbf393931e8
Source location: content.xml paragraph 26033
Stored source content
27-76-406. Reimbursement for feasibility studies.
(a) The following are allowable reimbursable expenses for studying the cost and feasibility of a transportation project as provided under this section:
(1) The preparation and issuance of bonds for the acquisition or construction of a proposed transportation project by a regional mobility authority; or
(2) The improvement, extension, or expansion of an existing transportation project of the regional mobility authority.
(b) Any of the following may pay all or part of the expenses under this section related to a transportation project and be reimbursed as provided under this section:
(1) One (1) or more municipalities, counties, or other governmental entities;
(2) A combination of municipalities, counties, or other governmental entities;
(3) A governmental entity or private entity with its place of business in this state; or
(4) An individual who resides in this state.
(c)(1) Funds expended under this section for a proposed transportation project are reimbursable without interest and with the consent of the regional mobility authority to the person paying the expenses as provided under this section.
(2) The reimbursements shall be paid out of the proceeds from revenue bonds issued for or other moneys that may be used for the acquisition, construction, improvement, extension, expansion, maintenance, repair, or operation of the transportation project.
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