192 chapters · 4,300 sections in this title.
Ark. Code Ann. § 14-234-207 Bonds — Amount — Negotiability — Execution — Sale
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(a) Bonds shall be issued in such amounts as may be necessary to provide sufficient funds to pay all costs of construction or acquisition, including engineering, legal, and other expenses, together with interest to a date six (6) months subsequent to the estimated date of complet…
Ark. Code Ann. § 14-234-208 Lien in favor of bondholders — Enforcement — Appointment of receiver upon default
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(a) (1) There shall be created a statutory mortgage lien upon the waterworks system acquired or constructed from the proceeds of bonds authorized to be issued.(2) The lien shall exist in favor of the holder of the bonds, and each of them, and to and in favor of the holder of the …
Ark. Code Ann. § 14-234-209 Accounts — Audit — Treasurer as custodian of fund — Fund separated from city funds
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(a) Any municipality issuing revenue bonds under the provisions of this subchapter shall install and maintain a proper system of accounts showing the amount of revenue received and the application of the revenue. (b) The municipality shall at least once a year cause the accounts …
Allocation of specific portion of issue of bonds to particular project
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(a) Any specified portion of the proceeds of an issue of bonds authorized under this subchapter may be allocated by the municipal council to any particular project or to new construction as distinguished from the purchase of works already constructed. (b) (1) After allocation, th…