Title 14, Local Government

(a) (1) Upon the adoption of the ordinance, the absolute ownership of the property abandoned by the city or town shall vest in the owners of the real estate abutting thereon.(2) Each such abutting owner shall take title to the center line of the street or alley so abandoned, and …

When, in the opinion of a majority of the members of any city or town council in any of the cities of the first or second class or any incorporated towns of this state, it shall be necessary and desirable to use the land which is or may be dedicated for the use of the general pub…

When any person files with the city clerk or recorder of any city of the first or second class or any incorporated town in this state a petition signed by ten (10) or more persons claiming to be owners of real property in the city or town and including a majority of the owners of…

On the day named in the notice provided for in § 14-301-402 of this subchapter, the city or town council shall hear the petition and the protests and objections of all persons, firms, or corporations desiring to object to or protest against the closing and vacating of the alley, …

(a) Any person, firm, or corporation aggrieved by the finding of any council of any city or town upon any petition named in this subchapter shall have the right to appeal to the circuit court of the county in which the city or town is located, upon the filing of a good and suffic…

(a) Upon the filing of any bond and affidavit for appeal with the city clerk or recorder, as provided in this subchapter, the city clerk or recorder shall immediately prepare a certified transcript of the record in the case. The transcript shall include copies of the original pet…

This chapter may be referred to and cited as the “Municipal Street and Parking Revenue Bond Act.”

(a) This chapter shall be construed liberally. (b) All acts and activities of the municipality performed pursuant to the authority of this chapter are legislatively determined and declared to be essential governmental functions. (c) In this regard it is determined and declared th…

The provisions of this chapter shall be cumulative, insofar as the authority conferred and the subject matter dealt with is concerned, to all other laws dealing with the accomplishing of similar work to that embodied in street and parking projects dealt with in this chapter and t…

(1) As used in this chapter, unless the context otherwise requires:(1) “Bonds” means bonds issued under the authority of this chapter;(2) “Municipalities” means first-class cities, second-class cities, and incorporated towns;(3) “Street and parking revenues” means special revenue…

(1) Municipalities are authorized and empowered to acquire, by purchase or exercise of eminent domain:(1) Sites and rights-of-way to construct, reconstruct, widen, extend, and maintain streets, alleys, and roadways of every nature including, without limitation, bridges, tunnels, …

(a) Municipalities are authorized and empowered to issue revenue bonds from time to time in principal amounts sufficient to pay the costs of street and parking projects as they are defined in subsection (c) of this section. (b) More than one (1) street or parking project, or comb…

(a) Bonds shall be authorized by ordinance of the governing body of the municipality. (b) They may be coupon bonds, payable to bearer, or may be registrable as to principal only, with interest coupons, or may be registrable as to both principal and interest without coupons, and m…

(a) Bonds shall be executed by the manual or facsimile signature of the mayor of the municipality and by the manual signature of the clerk or recorder of the municipality. (b) Coupons attached to the bonds shall be executed by the facsimile signature of the mayor. (c) In case any…

(a) The bonds shall not be general obligations of the municipality involved but shall be special obligations payable solely from the revenues specified in § 14-302-110. (b) The principal of and interest on all bonds issued under the authority of this chapter shall be secured sole…

(1) The municipality involved may pledge and use all or any part of the following street and parking revenues for the payment of bonds issued by it as follows:(1) In the case of a parking project or of a street and parking project, the municipality is authorized to fix charges fo…

(a) Revenue bonds may be issued for the purpose of refunding any bonds issued under the authority of this chapter. (b) The refunding bonds may be combined into a single issue with revenue bonds issued for a street and parking project. (c) Refunding bonds may either be sold or del…

(a) Revenue bonds issued under the authority of this chapter are made securities in which insurance companies, trust companies, banks, investment companies, executors, administrators, trustees, and other fiduciaries may properly and legally invest funds including capital in their…

The principal of, and interest on, bonds issued under the authority of this chapter shall be exempt from all state, county, and municipal taxes. This exemption shall include income, inheritance, and estate taxes.

This chapter may be referred to and cited as the “Arkansas Municipal Tollway Authority Act.”

(a) This chapter shall be construed liberally. (b) All acts and activities of an authority performed pursuant to the powers of this chapter are determined and declared by the General Assembly to be essential governmental functions. In this regard, it is determined and declared th…

(1) As used in this chapter, unless the context otherwise requires:(1) “Authority” means any municipal tollway authority created pursuant to the provisions of this chapter;(2) “Project” or “tollway project” means any expressway constructed under the provisions of this chapter by …

All tollway projects, and all the properties thereof, are legislatively determined and declared to be public properties used exclusively for public purposes and the legislative intent is that tollway projects, and all properties thereof, shall be exempt from ad valorem taxes unde…

(a) Any city of the first class may by ordinance create a municipal tollway authority, herein sometimes referred to as “the authority,” composed of five (5) citizens who are qualified electors of the city involved. (b) The ordinance creating the authority shall appoint the member…

(a) The authority shall elect from among its members a chairman and a secretary who shall serve for such terms as the authority shall determine. (b) The secretary shall be the authority's disbursing agent and executive officer. The secretary shall furnish bond, with a corporate s…

(a) Meetings of the authority shall be held on call by the chairman or by any three (3) or more members, upon reasonable advance notice to each member, at such places as may suit the authority's convenience. (b) A quorum for the transaction of business at any meeting shall consis…

(1) An authority is authorized and empowered to:(1) Acquire, by purchase or exercise of eminent domain, sites, and rights-of-way for and to construct, reconstruct, extend, maintain, repair, and operate tollway projects as defined in this chapter at such locations within the city …

(1) No tollway project shall be undertaken unless and until the tollway project involved shall have been thoroughly studied with respect to traffic, engineering, costs, and financing, and unless the authority involved makes, by resolution entered in the records of that authority,…

(a) An authority, and its authorized agents and employees, may enter upon any lands, waters, and premises for the purposes of making such surveys, soundings, drillings, and examinations as they may deem necessary or desirable for the purposes of carrying out the authority conferr…

(a) The power of eminent domain is expressly conferred upon authorities, created pursuant to the provisions of this chapter. (b) In the event that any lands, or interest therein, determined by an authority to be necessary for any tollway project cannot be acquired by negotiation,…

In connection with the construction of any tollway project, an authority is authorized to construct grade separations at intersections of any tollway project with public highways and to change and adjust the lines and grades of public highways so as to accommodate the lines and g…

An authority shall not change the location of any portion of a public highway which is a part of the state highway system without the prior approval of the State Highway Commission, nor a public highway subject to the exclusive jurisdiction of a county court without the prior app…

Any public highway affected by the construction of a tollway project may be vacated or relocated by an authority in the manner provided by law for the vacation or relocation of public roads. Any damages awarded on account thereof shall be paid by the authority involved as part of…

Whenever an authority shall determine that it is necessary for transmission facilities, including tracks, pipes, mains, conduits, cables, wires, towers, poles, and other equipment and appliances of whatever nature existing or used in connection with public and private utilities, …

(a) An authority is authorized to fix, revise, charge, and collect tolls for the use of each tollway project and the different parts or sections thereof; to contract with any person, partnership, association, corporation, or organization desiring the use of any part thereof, incl…

The tolls and all other revenues derived from the tollway project involved, sometimes collectively referred to as “tollway project revenues,” shall be deposited, as and when received, into special accounts of the authority in those depository banks or trust companies as may be de…

(a) The tollway project revenues are to be used solely as authorized in this chapter. (b) The tollway project revenues shall be used:(1) To pay the reasonable expenses of maintenance, repair, and operation of the tollway project involved, including, without limitation, reimbursin…

(a) The pledge of tollway project revenues to the payment of the principal of and interest on the revenue bonds shall be valid and binding from the time the pledge is made. (b) The tollway project revenues so pledged shall immediately be subject to the lien of the pledge without …

(a) Reference is made to Acts 1967, No. 43 [repealed], and particularly to § 12 of Acts 1967, No. 43 [repealed]. (b) It is intended and is provided that any tollway project hereunder shall participate in “turnpike gasoline tax revenues” to the same extent as though the tollway pr…

(a) An authority is authorized and empowered to issue from time to time tollway revenue bonds in principal amounts sufficient to pay the costs of a tollway project. (b) No more than one (1) tollway project may be involved as to any issue of tollway revenue bonds hereunder, but fo…

(a) Tollway revenue bonds shall be authorized by resolution of the authority involved. (b) They may be coupon bonds payable to bearer; may be registrable as to principal only with interest coupons; or may be registrable as to both principal and interest without coupons; and may b…

(a) The resolution of an authority authorizing the issuance of bonds may provide for the execution, by the authority involved with a bank or trust company within or without the State of Arkansas, of a trust indenture. (b) The trust indenture may control the priority between succe…

(a) Bonds issued under the authority of this chapter shall be sold at public sale or at private sale, upon the written approval of the State Securities Commissioner based on his finding that a private sale will be in the best interest of the authority involved. (b) Any sale of th…

(a) Bonds shall be executed by the manual or facsimile signature of the chairman and by the manual signature of the secretary of the authority involved. (b) Coupons attached to the bonds shall be executed by the facsimile signature of the chairman. In case any of the officers who…

(a) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this chapter, and the bonds issued hereunder shall be obligations only of the authority involved. In no event shall they constitute an indebtedness of the State of Arkansas or …

(a) The principal of, and interest on, all revenue bonds issued under the authority of this chapter shall be secured solely by a pledge of, and shall be payable solely from, tollway project revenues. (b) They shall not be secured by a statutory or forecloseable mortgage lien on t…