Title 14, Local Government

The issuance of bonds shall be by an ordinance of the governing body of the municipality.

(a) As the ordinance may provide, the bonds may:(1) Be coupon bonds payable to bearer, subject to registration as to principal or as to principal and interest, or fully registered bonds without coupons;(2) Contain exchange privileges, and be issued in one (1) or more series;(3) B…

(a) The ordinance may provide for the execution of a trust indenture by the municipality with a bank or trust company within or without the state. (b) The trust indenture may control the priority between successive issues and may contain any other terms, covenants, and conditions…

The bonds may be sold at public or private sale, for whatever price, including, without limitation, sale at a discount, and in whatever manner that the municipality may determine by ordinance.

(a) (1) (A) Bonds issued under this chapter shall be executed by the manual or facsimile signatures of the mayor and clerk of the municipality.(B) The coupons attached to the bonds may be executed by the facsimile signature of the mayor of the municipality.(2) In case any of the …

Priority between successive issues may be controlled by the ordinance.

(a) The bonds and coupons issued under this chapter shall not be general obligations of the municipality, but shall be special obligations payable from and secured by a pledge of revenues derived from the municipality's electric system and otherwise secured as provided in this ch…

(a) (1) Bonds may be issued for the purpose of refunding any bonds issued under this chapter. Any bonds issued under other applicable legislation payable from and secured by, in whole or in part, a pledge of revenues derived from the municipality's electric system.(2) The refundi…

(a) The ordinance or trust indenture authorizing or securing any bonds issued under this chapter may impose a foreclosable mortgage lien upon all or any part of the electric system of the municipality. (b) The nature and extent of the mortgage lien may be controlled by the ordina…

(a) In the event of a default in the payment of the principal of, premium, if any, or interest on any bonds issued under this chapter, any court having jurisdiction may appoint a receiver to take charge of all or any part of the electric system of the municipality. (b) The receiv…

(a) For so long as any bonds are outstanding and unpaid, the rates, fees, and charges for electric power and energy charged and collected by a municipality shall be so fixed as to provide revenues sufficient to pay all costs of and charges and expenses in connection with the prop…

Any holder or registered owner of bonds or coupons appertaining thereto, except to the extent the rights given in this chapter may be restricted by the ordinance or trust indenture authorizing or securing such bonds and coupons, may, either at law or in equity, by suit, action, m…

Bonds issued under the provisions of this chapter, and the interest thereon, shall be exempt from all state, county, and municipal taxes, including property, income, inheritance, and estate taxes.

Any municipality, or any board, commission, or other authority duly established by ordinance of any municipality, or 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 tru…

(a) A municipality shall not issue bonds for the sole purpose of paying storm recovery costs related to a storm unless:(1) The Arkansas Public Service Commission has previously adopted a financing order that allows for the issuance of storm recovery bonds by a public utility due …