Title 14, Local Government

This chapter is intended to supplement all existing constitutional provisions and legislation designed to secure and develop industry and shall be liberally construed to accomplish its purposes.

(a) Two (2) or more counties, or two (2) or more municipalities, whether or not in the same county, or one (1) or more counties and one (1) or more municipalities are authorized and empowered to join together in a compact for the purpose of engaging in joint efforts to secure and…

(a) (1) Any compact entered into under the terms of this subchapter shall provide for the establishment of an inter-municipal, inter-county, or municipal-county commission which shall hold title as trustee for the use and benefit of the parties to the compact as their interests m…

(a) Any compact entered into under the provisions of this subchapter may provide that each party to the compact will issue bonds under Arkansas Constitution, Amendment 49 [repealed], and that all funds obtained by the issuance of the bonds will be used for a joint industrial deve…

(a) (1) The purpose of this subchapter is to encourage multi-county planning and development organizations which have been formed, or which may be formed in the future, as voluntary nonprofit associations to promote economic development, to assist local governments and private or…

(a) The General Assembly recognizes as planning and development districts the boundaries of the following eight (8) economic development districts:(1) Northwest Arkansas Economic Development District, Inc., consisting of Benton, Washington, Madison, Carroll, Boone, Newton, Marion…

(a) The governing boards of directors of the eight (8) economic development districts are recognized as the representative organizations of the initial planning and development districts as recognized in § 14-166-202. (b) In order to qualify for the benefits of the provisions of …

(a) (1) The Department of Finance and Administration is authorized to make payments from time to time to officially recognized organizations of planning and development districts from state funds appropriated for that purpose.(2) Payments shall be scheduled as nearly as possible …

(a) (1) Whenever the General Assembly shall have appropriated funds to be used for making payments as authorized in this subchapter, the Department of Finance and Administration shall notify the respective boards of directors of the planning and development districts of the amoun…

(a) The General Assembly finds that:(1) Rural Arkansas is losing population, and it is becoming increasingly difficult for these rural areas to compete economically in light of this population loss;(2) Many existing federal and state programs cannot adequately address economic is…

(1) As used in this subchapter:(1) “Federal agencies” means:(A) Departments, offices, councils, or agencies of the United States Government; or(B) Public benefit corporations or authorities authorized by federal law;(2) (A) “Local governmental unit” means a county, city of the fi…

(a) (1) The Rural Economic Development Initiative is established to provide funds to planning and development districts for distribution to projects in rural areas to further rural economic development and revitalization.(2) (A) If funding permits, a planning and development dist…

(a) The Arkansas Economic Development Commission shall submit biannual reports to the Legislative Council that include:(1) (A) A description of the projects for which funds allocated for the Rural Economic Development Initiative were used in the period since the previous biannual…

This subchapter shall be referred to, and may be cited as, the “Energy Conservation and Renewable Energy Resource Finance Act.”

(a) The General Assembly finds that:(1) The State of Arkansas is confronted with a severe energy crisis;(2) The demand for fuels has outstripped the available supplies;(3) The cost to the consumer for energy usage continues to increase at an accelerated rate;(4) A great and growi…

(1) As used in this subchapter, unless the context otherwise requires:(1) “Facilities” or “energy facilities” means any real property, personal property, or mixed property of any and every kind which, in residential, commercial, industrial, or agricultural applications:(A) Reduce…

This subchapter is to be liberally construed to accomplish the purposes of it and shall be the sole authority necessary to be complied with. To this end, it shall not be necessary to comply with general provisions of other laws dealing with energy facilities, their acquisition, c…

(a) Any municipality and any county in this state is authorized to own, acquire, construct, reconstruct, extend, equip, improve, operate, maintain, sell, lease, contract concerning, or otherwise deal in, or dispose of, or make loans to finance the acquisition, construction, recon…

(a) Municipalities and counties are authorized to use any available revenues for the accomplishment of energy projects, either alone or together with other available funds and revenues, and may issue bonds, as authorized in this subchapter, for the accomplishment of energy projec…

The issuance of bonds shall be by ordinance of the municipality or county.

(a) As the ordinance authorizing their issuance may provide, the bonds may:(1) Be in such form and denominations;(2) Be exchangeable for bonds of another denomination;(3) Be made payable at such places within or without the state;(4) Be issued in one (1) or more series;(5) Bear s…

(a) The ordinance authorizing the bonds may provide for the execution by the municipality or county of an indenture which defines the rights of the holders and registered owners of the bonds and provides for the appointment of a trustee, who may be a trustee within or without the…

The bonds may be sold for such price, including, without limitation, sale at a discount, and in such manner as the municipality or county may determine by ordinance.

(a) (1) The bonds shall be executed by the mayor and the city clerk or recorder of the municipality or the county judge and county clerk of the county, with either the facsimile or manual signature of the mayor or county judge, but with the manual signature of the clerk or record…

There may be successive bond issues for the purpose of financing the same energy project, and there may be successive bond issues for financing the cost of reconstructing, replacing, constructing additions to, extending, improving, and equipping energy projects already in existen…

Priority between and among issues and successive issues as to security of the pledge of revenues and lien on the energy project involved may be controlled by the ordinance authorizing the issuance of bonds under this subchapter.

(a) (1) The bonds issued under this subchapter shall not be general obligations of the municipality or county but shall be special obligations, and in no event shall the bonds constitute an indebtedness of the municipality or county within the meaning of any constitutional or sta…

(a) (1) Bonds may be issued for the purpose of refunding any obligations issued under this subchapter.(2) Refunding bonds may be combined with bonds issued under the provisions of §§ 14-167-207 — 14-167-213 into a single issue. (1) Bonds may be issued for the purpose of refunding…

(a) The ordinance or indenture referred to in § 14-167-207 or § 14-167-209 may, but need not, impose a foreclosable mortgage lien upon the land, buildings, or other properties acquired, constructed, reconstructed, extended, equipped, or improved, in whole or in part, with the pro…

(a) (1) The ordinance or indenture referred to in § 14-167-207 or § 14-167-209 may, but need not, provide that in the event of a default in the payment of the principal of, or interest on, any bonds issued under this subchapter, any court having jurisdiction may appoint a receive…

Bonds issued under this subchapter and interest on them shall be exempt from all state, county, municipal, and school district taxes.

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

Municipalities and counties are authorized to enter into and carry out appropriate agreements with any agency or political subdivision of the federal government or of the State of Arkansas pertaining to the accomplishment of the purposes authorized by this subchapter, including, …

(1) As used in this subchapter:(1) “Applicable ad valorem rate” means the total ad valorem rate less the debt service ad valorem rate;(2) “Base value” means the assessed value of all real property within a redevelopment district subject to ad valorem taxation, as of the most rece…

The General Assembly declares that this subchapter is necessary for the welfare of this state and its inhabitants, and it is the intent of the General Assembly that it is to be broadly construed to effect its purpose.

The powers conferred by this subchapter are in addition and supplemental to the powers conferred upon local governments and improvement districts by the General Assembly relating to the issuance of bonds.

(1) In addition to any other powers conferred by law, a local government may exercise any powers necessary and convenient to carry out the purpose of this subchapter, including the power to:(1) Create redevelopment districts and to define the boundaries of redevelopment districts…

(a) The local governing body, upon its own initiative or upon request of affected property owners or upon request of the city or county planning commission, may designate the boundaries of a proposed redevelopment district. (b) (1) The local governing body shall hold a public hea…

(a) (1) Upon the creation of the redevelopment district, the local governing body shall cause the preparation of a project plan for each redevelopment district, and the project plan shall be adopted by ordinance of the local governing body.(2) This process shall conform to the pr…

(a) The local governing body may adopt by ordinance an amendment to a project plan. (b) (1) Adoption of an amendment to a project plan shall be preceded by a public hearing held by the local governing body as provided in § 14-168-306(e)(1), at which interested parties shall be af…

(a) A redevelopment district shall not be in existence for a period longer than twenty-five (25) years, unless under the original redevelopment plan or by amendment of the original redevelopment plan bonds have been issued and the bonds would not be fully paid until after the dat…

(a) The local government may pay, but shall have no obligation to pay, the costs of preparing the project plan or forming the redevelopment district. (b) If the local government elects not to incur those costs, they shall be made project costs of the district and reimbursed from …

The boundaries of any redevelopment districts shall not overlap with any other redevelopment district.

(a) (1) Upon and after the effective date of the creation of a redevelopment project district, the county assessor of the county in which the district is located shall transmit to the county clerk, upon the request of the local governing body, the base value, total ad valorem rat…

(a) For so long as the redevelopment district exists, the tax assessor shall divide the ad valorem tax revenue collected, with respect to taxable property in the district, as follows:(1) The assessor shall determine for each tax year:(A) The amount of total ad valorem tax revenue…

(a) The local governing body may elect to deposit into the special fund of the redevelopment district all or any portion of payments in lieu of taxes on property within the redevelopment district, including that portion of the payments in lieu of taxes that would have been distri…