Title 8 — Environmental Law
15 chapters · 561 sections in this title.
Ark. Code Ann. § 8-15-111 District boards of directors — Powers and duties
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(a) The board of directors of a district may:(1) Issue revenue bonds on behalf of the district;(2) Make and adopt all necessary bylaws for its organization and operation;(3) Elect officers and employ personnel necessary for its operation;(4) Operate, maintain, expand, and fund a …
Ark. Code Ann. § 8-15-112 District reporting requirement — Collection of assessments
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(a) (1) (A) By March 1 of each year or upon the creation of a district that uses or intends to use the county collector for collection of district assessments, the board of directors of a district shall file an annual report with the county clerk in any county in which a portion …
Ark. Code Ann. § 8-15-113 Financing projects in PACE program districts
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(a) The board of directors of a district may establish a PACE program to facilitate financing for the initial acquisition and installation or permanent financing of a qualifying improvement with a consenting owner or owners of existing eligible property or new construction. (b) (…
Ark. Code Ann. § 8-15-114 Authority to establish direct PACE financing program
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(a) A governing body of a governmental entity may:(1) By ordinance establish a PACE program within a designated area to make available property assessed capital expenditure financing or refinancing for qualifying improvements to the owner or owners of the eligible property from c…
Ark. Code Ann. § 8-15-115 Collection of PACE program assessments
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(a) (1) A PACE program special assessment payment shall be collected in a manner specified in the financing agreement.(2) Assessments privately collected by a third-party program administrator under § 8-15-114(c)(3) may be collected at times specified by the financing agreement.(…
Ark. Code Ann. § 8-15-116 Program guidelines
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(1) The governmental entity or the board of directors of a district, together with any third-party administrator it may select, shall determine the guidelines of the PACE program, as outlined in the program guidebook, including without limitation:(1) A statement outlining what co…
Ark. Code Ann. § 8-15-117 Payment by special assessments
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The credit and taxing power of the State of Arkansas and cities and counties of this state shall not be pledged for the debt evidenced by the PACE program liens or bonds, which are payable solely from the revenues received from the special assessments on the eligible property rec…
Ark. Code Ann. § 8-15-118 Bonds
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(a) A district may:(1) Issue bonds to provide the PACE program financing authorized by this chapter or obtain any other financing obligation authorized by this chapter, the laws of the State of Arkansas, or the Arkansas Constitution; and(2) Create a debt reserve fund of legally a…
Ark. Code Ann. § 8-15-119 Sale of bonds by districts
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The bonds may be sold in such a manner, either at public or private sale, and upon such terms as the board of directors of a district shall determine to be reasonable and expedient for effectuating the purposes of this chapter.
Ark. Code Ann. § 8-15-120 Revolving fund for districts
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(a) A district or a nonprofit corporation acting in concert with a district may maintain a revolving fund to be held in trust by a banking institution chosen by the board of directors of the district or the board of directors of a nonprofit corporation acting in concert with a di…
Ark. Code Ann. § 8-15-121 Consent from mortgage lien holders
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(1) Before the execution of a PACE program assessment contract, the owner of eligible property shall obtain and furnish to the governmental entity or program administrator a written statement executed and acknowledged by an authorized officer of each holder of a mortgage or deed …