Title 14, Local Government

(a) This subchapter shall be construed liberally. (b) The enumeration of any object, purpose, power, manner, method, and thing shall not be deemed to exclude like or similar objects, purposes, powers, manners, methods, and things.

(1) Except as otherwise provided in this subchapter, the provisions of Acts 1881, No. 84; Acts 1899, No. 183; and all other laws of the State of Arkansas pertaining to municipal improvement districts, in general, as they may be amended from time to time, shall be applicable to a …

The governing body of any first-class or second-class municipality of the state is authorized to create, by ordinance, one (1) or more central business improvement districts in the manner and for the purposes provided in this subchapter.

(a) (1) (A) When persons claiming to be owners of two thirds (⅔) in assessed value, as shown by the last county assessment, of real property in the area proposed to comprise a central business improvement district, file with the city clerk a petition for the organization of a dis…

(a) After the filing of a petition for the creation of a central business improvement district, no petitioner shall be permitted to withdraw his name from it. (b) No petition with the requisite signatures shall be declared void on account of formal or insubstantial defects. (c) T…

A central business improvement district organized under this subchapter is authorized to pay reasonable compensation to those persons who have done necessary or desirable preliminary work in the organization of it, including the fees of abstractors and title companies, engineers,…

(a) (1) (A) In the ordinance creating a central business improvement district, the governing body shall appoint a minimum of five (5) persons who shall be owners of real property in the district or officers or stockholders of a corporation owning real property within the district…

(a) (1) As soon as is practicable after the qualification of its members, the board of commissioners for a central business improvement district shall form plans for the improvement as described in the petition and shall obtain estimates of the cost of it.(2) Prior to the filing …

(a) (1) In the preparation of the plan of improvement, a central business improvement district is authorized to employ architects and engineers to prepare plans, specifications, and estimates of cost for the construction of the improvements and to supervise and inspect the constr…

(a) (1) If for any cause the improvement shall not be made, the cost shall be a charge upon the real property in the central business improvement district and shall be raised and paid by an assessment upon the real property in the district as assessed for state and county purpose…

(1) A central business improvement district has all powers necessary or desirable to undertake and carry out all parts of the planned improvement, including without limitation:(1) Existence as a body corporate, having the power to sue and to be sued and to contract in its name;(2…

(a) The right and power of eminent domain is conferred upon a central business improvement district to enter upon, take, and condemn private property for the construction of improvements described in the plan of improvement. (b) The right and power of eminent domain conferred by …

(1) The governing body of any municipality shall have all powers necessary or desirable to undertake and carry out, or to assist a central business improvement district to undertake and carry out, all improvements described in the ordinance setting up the district including, but …

(a) (1) In order to effectuate the plan of improvement and to maintain the improvements constructed under it, it may be desirable to provide additional funds for operation, maintenance, repairs, and replacements, and to levy a supplemental annual assessment upon the property owne…

(a) (1) Nothing in this subchapter shall be deemed to limit or prohibit the operation of any facility which is a part of the plan of improvement as a revenue-producing facility.(2) Without limiting the generality of this provision, a central business improvement district may cons…

(a) For the purpose of providing funds to pay preliminary expenses, to construct improvements according to the plan, or to pay for an improvement already completed, a central business improvement district may borrow money in an amount not exceeding the estimated costs of it, incl…

(a) The bonds of the district, whether payable from assessments, from revenues, or from both shall be authorized by a resolution of the board of commissioners. (b) The authorizing resolution may contain any of the terms, covenants, and conditions that are deemed desirable by the …

(a) As the board of commissioners shall determine, the bonds may:(1) Be coupon bonds, payable to bearer, or may be registrable as to principal only or as to principal and interest, and may be made exchangeable for bonds of another denomination;(2) Be in such form and denomination…

(a) The authorizing resolution may provide for the execution by the district with a bank or trust company, within or without the State of Arkansas, of a trust indenture. (b) The trust indenture may contain any terms, covenants, and conditions that are deemed desirable by the boar…

(a) The bonds may be sold for such price, including without limitation sale at a discount, and at such rate of interest and in such manner as the board may determine by resolution. (b) Any bank, savings and loan association, or other financial institution regulated by an agency o…

(a) (1) (A) The bonds shall be executed by the manual or facsimile signature of the chairman of the board and by the manual signature of the secretary of the board.(B) The coupons attached to the bonds shall be executed by the facsimile signature of the chairman.(2) In case any o…

(a) (1) Bonds may be issued for the purpose of refunding any bonds issued under this subchapter.(2) (A) Refunding bonds may be either sold or delivered in exchange for the bonds being refunded.(B) If sold, the proceeds may be either applied to the payment of the bonds being refun…

(a) (1) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this subchapter, that the bonds shall be obligations only of the central business improvement district, and that in no event shall they constitute any indebtedness for whic…

(a) Bonds issued under the provisions of this subchapter and the interest on them shall be exempt from all state, county, and municipal taxes. (b) This exemption shall include income, inheritance, and estate taxes.

(a) Any municipality; any board, commission, or other authority duly established by ordinance of any municipality; the boards of trustees, respectively, of the firemen's relief and pension fund and the policemen's pension and relief fund of any municipality; or the board of trust…

(a) A central business improvement district created under this subchapter shall continue in existence in perpetuity unless dissolved by ordinance of the governing body to be enacted solely in the manner provided in this section:(1) A majority of the board of commissioners and a m…

(1) It is determined and declared by the General Assembly that:(1) The deterioration of the central business districts of urban centers of the state is a threat to the property tax and other revenue sources of such municipalities;(2) Funds for the improvement and modernization of…

As used in this subchapter, unless the context otherwise requires, “property” means real property and tangible and intangible personal property.

(a) This subchapter shall be construed liberally. (b) The enumeration of any object, purpose, power, manner, method, and thing shall not be deemed to exclude like or similar objects, purposes, powers, manners, methods, and things.

This subchapter shall be construed as cumulative of existing laws relating to the creation, operation, and existence of municipal improvement districts and shall not repeal any existing law unless the law is in direct conflict with this subchapter. It is the intent of this subcha…

Central business improvement districts created under the authority of § 14-184-101 et seq. are authorized to issue revenue bonds for the purpose of providing funds for the acquisition, construction, reconstruction, repair, replacement, renovation, or any other restoration or impr…

(a) Direct loans may be made by a central business improvement district to property owners, including lessees of the property owners, within the district on such terms and conditions, and with such security for repayment, as the commissioners shall deem necessary and desirable. (…

(a) For the purpose of providing funds to make loans including any reserve for contingencies deemed desirable, a central business improvement district may issue negotiable bonds or certificates of indebtedness bearing a rate of interest not to exceed the maximum rate allowed by l…

(a) The bonds of a central business improvement district shall be authorized by a resolution of the board of commissioners. (b) The authorizing resolution may contain any of the terms, covenants, and conditions that are deemed desirable by the board, including, without limitation…

(a) As the board shall determine, the bonds may:(1) Be coupon bonds, payable to bearer, or may be registrable as to principal only or as to principal and interest and may be exchangeable for bonds of another denomination;(2) Be in such form and denomination;(3) Have such date or …

(a) The authorizing resolution may provide for the execution by the district with a bank or trust company, within or without the State of Arkansas, of a trust indenture. (b) The trust indenture may contain any terms, covenants, and conditions that are deemed desirable by the boar…

(a) The bonds may be sold for such price including, without limitation sale at a discount, and at such rate of interest and in such manner as the board may determine by resolution. (b) The bonds or certificates of indebtedness may be sold to any bank, savings and loan association…

(a) (1) (A) The bonds shall be executed by the manual or facsimile signature of the chairman of the board and by the manual signature of the secretary of the board.(B) The coupons attached to the bonds shall be executed by the facsimile signature of the chairman.(2) In case any o…

(a) The bonds may be sold with the privilege of conversion into an issue bearing other rate or rates of interest, upon the terms that the board receive no less and pay no more than it would receive and pay if the bonds were not converted. (b) The conversion shall be subject to th…

(a) (1) Bonds may be issued for the purpose of refunding any bonds issued under this subchapter.(2) (A) Refunding bonds may be either sold or delivered in exchange for the bonds being refunded.(B) If sold, the proceeds may be either applied to the payment of the bonds being refun…

(a) (1) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this subchapter, that the bonds shall be obligations only of the central business improvement district, and that in no event shall they constitute any indebtedness for whic…

(a) Bonds issued under the provisions of this subchapter and the interest on them shall be exempt from all state, county, and municipal taxes. (b) This exemption shall include income, inheritance, and estate taxes.

(a) Any municipality; any board, commission, or other authority duly established by ordinance of any municipality; the boards of trustees, respectively, of the firemen's relief and pension fund and the policemen's pension and relief fund of any municipality; the board of trustees…