Title 27, Transportation

(a) The bonds shall be in such form and denomination, have such dates and maturities not exceeding forty (40) years from their date, bear interest payable at such times and rates, be payable at such places within or without the state, and contain such provisions as to registratio…

All bonds issued under the provisions of this chapter, maturing on and after ten (10) years from their date, in the discretion of the State Highway Commission, may contain a provision authorizing their redemption before maturity at the option of the commission in a manner as it m…

The State Highway Commission is authorized to adopt and use a seal in the execution and issuance of bonds authorized under the provisions of this chapter.

(a) The State Highway Commission is authorized to sell all the bonds of each issue issuable under this chapter at one (1) time, or it may from time to time sell installments of the bonds of each issue in principal amounts to be determined by the commission. The bonds of each issu…

This chapter shall not create any right of any character, and no right of any character shall arise under or pursuant to it unless and until the bonds authorized by this chapter have been issued and actually sold by the State Highway Commission.

The State Highway Commission is further authorized to invest portions of the proceeds from the sale of such bonds as in its judgment may not be required for immediate use in direct general obligations of the United States or of the State of Arkansas.

Temporary notes or bonds conforming to this chapter, exchangeable for definitive bonds, may be issued in the discretion of the State Highway Commission.

All bonds and notes issued under the provisions of this chapter shall be, and shall have, all the qualities and incidents of negotiable instruments under the negotiable instruments law of this state.

The bonds issued under this chapter shall be exempt from the state income taxes.

(1) At or before the issuance of any bonds, the State Highway Commission shall:(1) By resolution provide for a sinking fund for the payment of the principal of the bonds and the interest thereon and for the payment of the charges of banks or trust companies for making payment of …

(a) All revenues of the bridge or ferry not required under the provisions of this chapter to be paid into the sinking fund provided in the resolution authorizing the issuance of bonds shall be paid into an operation and maintenance fund and be used by the State Highway Commission…

(a) The State Highway Commission is authorized, and it shall be its duty, by resolution to establish, maintain, and collect just and equitable tolls, rates, fees, and other charges for the use of and the services rendered by the bridge or ferry. (b) The commission may change and …

(a) Bonds issued under the provisions of this chapter shall be payable solely from the revenues derived from the bridge or ferry. These bonds shall not in any event constitute an indebtedness of the State of Arkansas within the meaning of the constitutional provisions or limitati…

(a) The State Highway Commission may provide in its resolution authorizing the issuance of the bonds or in the trust indenture executed in connection therewith that additional bonds may thereafter be authorized and issued, at one (1) time or from time to time, when necessary for …

For the purpose of carrying into effect the objects and purposes of this chapter, the State Highway Commission shall have full power and authority to negotiate and enter into contracts with the United States and any of its agencies and with the state highway commission or other c…

All interstate bridges constructed or reconstructed under the terms of this chapter and all tolls, rents, fees, and other charges established for services rendered by the bridge or ferry shall be subject and conform to the terms and provisions of the act of the United States Cong…

For the purpose of acquiring any land, rights, easements, franchises, or other real or personal property deemed to be necessary or convenient for the construction and reconstruction of any bridge or ferry, or for the acquisition of the approaches thereto, the State Highway Commis…