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192 chapters · 4,300 sections in this title.
Ark. Code Ann. § 14-186-413 Statutory mortgage lien
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(a) (1) There shall be a statutory mortgage lien upon the port constructed or acquired from the proceeds of bonds authorized to be issued under the provisions of this subchapter. This lien shall exist in favor of the holders of the bonds and each of them and to and in favor of th…
Ark. Code Ann. § 14-186-414 Service rates and surplus
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(a) Rates fixed precedent to the issuance of bonds shall not be reduced until all of the bonds shall have been fully paid and, whenever necessary, may be increased in amounts sufficient to provide for the payment of the bonds, both principal and interest, and to provide proper fu…
Ark. Code Ann. § 14-186-415 Depository for funds
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(a) (1) The municipalities or counties joined together to issue revenue bonds under the provisions of this subchapter shall designate a bank, which shall be a member of the Federal Deposit Insurance Corporation, to serve as a common depository to receive and hold on deposit and f…
Ark. Code Ann. § 14-186-416 Allocation of bond proceeds
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(a) (1) Any specified portion of the proceeds of an issue of bonds authorized under the provisions of this subchapter may be allocated to any particular project authorized under this subchapter, or to any construction, as distinguished from the purchase of a port constructed, or …