Title 14, Local Government

(1) The refunding bonds:(1) Shall be negotiable instruments;(2) May have coupons evidencing interest, payable annually or semiannually; and(3) Shall have all the rights of security and remedies for collection that are provided for the original bonds issued by the county. (1) Shal…

(a) In order to facilitate the refunding of its bonds, any county issuing refunding bonds may issue certificates of indebtedness bearing interest not to exceed five percent (5%) per annum, payable to bearer and negotiable, to cover matured interest due on outstanding bonds at the…

The tax for the payment of the outstanding bonds levied by the quorum court of the county issuing the refunding bonds shall continue for the payment of the refunding bonds and certificates of indebtedness. If the tax proves insufficient to meet the maturities of the refunding bon…

(a) Any county that has issued funding bonds, under Arkansas Constitution, Amendment 10, to take up its outstanding indebtedness which included any balance then due on the cost of construction of a courthouse or jail, or both, shall have the right to issue bonds under the provisi…

Any county which has built, constructed, or extended a county courthouse or jail, or both, which has not been completely paid for and for which county warrants are now outstanding, may issue bonds through its county court to raise money to pay the indebtedness when authorized by …

(a) Bonds bearing interest at a rate not exceeding five percent (5%) per annum and maturing in not more than thirty-five (35) years may be issued by the county court in the name of the county when authorized by a vote of the qualified electors, and they may be exchanged for the w…

(a) If the county court decides that it would be advantageous to issue bonds under the authority of Arkansas Constitution, Amendment 17 [repealed], this section, and §§ 14-72-301, 14-72-302, and 14-72-304 — 14-72-307, it shall order the submission of the question to the qualified…

(a) In the order calling the election, the county court shall prescribe the form of the ballot, which shall show the amount of the proposed bond issue, its purpose, and the amount of tax necessary to be levied in order to pay the bonds with interest, which amount shall not exceed…

(a) If a majority voting in the election vote in favor of the issue of the bonds and the levy of the tax, then the quorum or levying court, at any regular, special, or adjourned term thereafter held, shall levy, in addition to all other taxes authorized by law to be levied agains…

(a) Bonds that may be issued to pay for courthouses or jails, or both, which may be built or extended, shall be sold only at public auction or on sealed bids after notice given by order of the county court and published once a week for at least three (3) insertions in some newspa…

Whenever, at an election called for the purpose of authorizing the construction, reconstruction, or extension of any county courthouse or county jail, a majority voting in the election vote for such building or buildings, as the case may be, and for the necessary tax, the county …

(a) The power and authority granted by this subchapter may be exercised successively. (b) Any bonds which have once been refunded under this subchapter may thereafter, from time to time, be refunded.

Any city of the first or second class of this state shall have the power and is authorized to refund, in whole or in part, from time to time, its valid outstanding bonds issued under Arkansas Constitution, Amendment 13 [repealed]. To that end, the city may issue negotiable refund…

(a) (1) No refunding bonds shall be issued until the debt refunded is cancelled simultaneously with the delivery of the refunding bonds:(A) By the surrender and cancellation of the bonds to be refunded;(B) If the outstanding bonds are redeemable before maturity and have been duly…

(a) All such refunding bonds shall be negotiable instruments and may have coupons evidencing interest, payable annually or semi-annually, and shall have all the rights of security and remedies for collection that are provided for the bonds that are refunded. (b) They shall bear t…

This subchapter shall be referred to and may be cited as the “Local Government Revenue Bond Election Act of 1986.”

The Arkansas Supreme Court has determined in the case of City of Hot Springs v. Creviston, that the Constitution of the State of Arkansas requires that the issuance of revenue bonds by counties and municipalities, including their boards and agencies, must be approved by the elect…

(1) As used in this subchapter, unless the context otherwise requires:(1) “Bonds” means any evidence of indebtedness of a county or municipality issued pursuant to laws in effect authorizing the issuance of bonds, notes, certificates, or other instruments or evidences of indebted…

This subchapter shall be construed liberally to effectuate the legislative intent and the purposes of this subchapter as complete and independent authority for the performance of each and every action and thing authorized in this subchapter, and all powers granted in this subchap…

The provisions of this subchapter shall not apply to bonds, notes, certificates, or other evidence of indebtedness issued by a regional water distribution district organized under § 14-116-101 et seq., or to any drainage district, levee district, or other improvement or special a…

(a) (1) Whenever a county or municipality shall determine the need to issue revenue bonds, the issuance of which under the Arkansas Constitution requires approval at an election, the legislative body thereof shall, by ordinance, submit the question of the issuance of the revenue …

For the purposes of this subchapter, when it is necessary to determine whether publication or other activity has taken place within a municipality lying in more than one (1) county, or where suit shall be filed contesting an election in the municipality, then the publication, act…

Any election called for the purpose of authorizing revenue bonds and any ordinances or resolutions of a legislative body, or orders of a county court adopted in connection therewith prior to May 8, 1986, shall be deemed ratified and in full compliance with this subchapter if the …

(a) Revenue bonds issued for the purpose of refunding revenue bonds issued prior to March 3, 1986, may be issued without the necessity of an election under this subchapter if the source of repayment is substantially the same as that provided at the original issuance of the revenu…

In instances where bonds were issued by a municipality under Arkansas Constitution, Amendment 13 [repealed], and the project for which the bonds were issued has not been commenced within ten (10) years after the bonds were issued, all interest accrued and accruing on the bond pri…

(a) The taxpayer must file a claim with the city clerk stating:(1) The name and mailing address of the taxpayer;(2) The time when and the period for which the tax was paid;(3) The amount of the tax which the taxpayer claims was levied for retirement of the bond issue;(4) Any othe…

(a) Before any money is transferred into the city general fund under this subchapter, the city shall publish a notice of the refund procedure at least once per week for at least four (4) consecutive weeks in a newspaper having general circulation within the city. (b) All principa…