Title 15, Natural Resources and Economic Development

(a) The Arkansas Natural Resources Commission is authorized to establish, maintain, and administer the “Arkansas Water Development Fund”, which shall be used for the payment of any water development project costs set out in § 15-22-506 and to discharge obligations pertaining to t…

All property controlled and operated by the Arkansas Natural Resources Commission shall be exempt from forced sale. Nothing in this subchapter shall be construed to authorize the commission to mortgage or otherwise encumber any of the property, except that the revenues thereof ma…

All of the property controlled and operated by the Arkansas Natural Resources Commission shall be exempt from taxation by the State of Arkansas or by any municipal corporation, county, or other political subdivision or taxing district of the state.

(a) In addition to being available for use in the operation of the Arkansas Natural Resources Commission for current water development project costs and for such other and additional purposes as provided for by law, appropriated funds for the maintenance of the commission may be …

All fees, earnings, and other collections of the Arkansas Natural Resources Commission shall be converted by the commission to the Arkansas Water Development Fund to be used by the commission as provided by law and shall not be paid into the State Treasury.

This subchapter may be referred to and cited as the “Arkansas Water Resources Development Act of 1981”.

(1) As used in this subchapter:(1) “Commission” means the Arkansas Natural Resources Commission;(2) “Debt service” means principal, interest, redemption premiums, if any, and trustees' and paying agents' and like servicing fees;(3) “Develop” means to construct, acquire by purchas…

(a) This subchapter shall be liberally construed to accomplish the purposes set forth. This subchapter shall constitute the sole authority necessary to accomplish the purposes of this subchapter, and to this end it shall not be necessary that the provisions of other laws pertaini…

(1) In addition to powers conferred under other laws, the Arkansas Natural Resources Commission shall have the power under this subchapter:(1) To develop water resources projects;(2) To acquire absolute title to and use for any purpose and at any place water stored in any reservo…

The Arkansas Natural Resources Commission is authorized to issue bonds of the State of Arkansas, to be known as “State Water Resources Development General Obligation Bonds”. For the purposes set forth in this subchapter, the total principal amount of the bonds shall not exceed on…

The total principal amount of bonds to be issued during any fiscal biennium shall not exceed fifteen million dollars ($15,000,000), unless the General Assembly by law shall have authorized a greater principal amount of bonds to be issued during a fiscal biennium.

(a) Before any bonds may be issued during any fiscal biennium, the Arkansas Natural Resources Commission shall submit to the Governor a written plan for the work or projects to be performed with the proceeds derived from the sale of the bonds, the need for, and the estimated bene…

Bonds issued under this subchapter shall be issued for the purpose of financing the development of water resources projects, and the proceeds of any bonds issued under this subchapter shall be applied for the payment of project costs.

Bonds may be issued in the form of coupon bonds, payable to bearer, or as bonds registered as to principal only with interest coupons, or as bonds registered as to both principal and interest without coupons; may be in such denominations; may be made exchangeable for bonds of ano…

(a) The bonds shall be issued in series as set forth in this subchapter in amounts sufficient to finance all or any part of project costs with the respective series to be designated in alphabetical order or by the year in which issued. (b) The bonds of each series shall:(1) (A) H…

(a) (1) All bonds issued under this subchapter shall be authorized by resolution of the Arkansas Natural Resources Commission.(2) Each resolution shall contain terms, covenants, and conditions as deemed desirable, including without limitation, those pertaining to:(A) The establis…

(a) Each bond shall be signed with the facsimile signatures of the Governor, the Secretary of State, and the Chair of the Arkansas Natural Resources Commission and by the manual signature of the Treasurer of State or by a deputy of the Treasurer of State and shall have affixed or…

(a) Bonds at any time sold under the provisions of this subchapter shall be on the basis of public sale on sealed bids, after notice published by the Chair of the Arkansas Natural Resources Commission for at least one (1) insertion not less than twenty (20) days before the date o…

(a) All revenues derived by the Arkansas Natural Resources Commission from any project financed under this subchapter shall be deposited by the commission, as received, into trust funds in the State Treasury to accomplish the purposes of this subchapter, specifically, in amounts …

(a) All bonds issued under this subchapter shall be direct general obligations of the State of Arkansas for the payment of the debt service on which the full faith and credit of the State of Arkansas are hereby irrevocably pledged so long as the bonds are outstanding. (b) The bon…

(a) (1) On or before the commencement of each fiscal year, the Chief Fiscal Officer of the State shall:(A) Determine the estimated amount required for payment of all or a part of debt service on the bonds issued under this subchapter during that fiscal year, after making deductio…

(a) All bonds issued under this subchapter and interest thereon shall be exempt from all taxes of the State of Arkansas, including income, inheritance, and property taxes. (b) The bonds shall be eligible to secure deposits of all public funds and shall be legal for investment of …

(a) (1) This subchapter shall constitute a contract between the State of Arkansas and the holders and registered owners of all bonds issued under this subchapter which shall never be impaired.(2) Any violation of its terms, whether under purported legislative authority or otherwi…

This subchapter shall not create any right of any character, and no right of any character shall arise pursuant to this subchapter unless and until the first series of bonds authorized by this subchapter shall have been sold and delivered.

(1) The proceeds of the sale of bonds issued under this subchapter shall be deposited by the Arkansas Natural Resources Commission:(1) Into all or any one (1) or more of the funds established pursuant to § 15-22-614, as set forth in the resolution or trust indenture authorizing o…

Any moneys held in any fund created under this subchapter shall be invested by the State Board of Finance to the fullest extent practicable pending disbursement for the purposes intended. Investment shall be in accordance with the terms of the resolution or trust indenture author…

All cases involving the validity of this subchapter or any portion thereof or in any way arising under this subchapter or involving the bonds issued under this subchapter shall be deemed of public interest and shall be advanced by all courts and heard as a preferred cause. All ap…

This subchapter may be referred to and cited as the “Arkansas Waste Disposal and Pollution Abatement Facilities Financing Act of 1987”.

(1) As used in this subchapter:(1) “Commission” means the Arkansas Natural Resources Commission and any successor agency or department;(2) “Debt service” means principal, interest, redemption premiums, if any, and trustees' and paying agents' and like servicing fees relative to t…

(a) This subchapter shall be liberally construed to accomplish the purposes of this subchapter. This subchapter shall constitute the sole authority necessary to accomplish the purposes of this subchapter, and to this end, it shall not be necessary that the provisions of other law…

(1) In addition to powers conferred under other laws, the Arkansas Natural Resources Commission shall have the power under this subchapter to:(1) Provide loans from bond proceeds to cities, counties, improvement districts, conservation districts, or other political subdivisions o…

The Arkansas Natural Resources Commission is authorized to issue bonds of the State of Arkansas, to be known as “State of Arkansas Waste Disposal and Pollution Abatement Facilities General Obligation Bonds”, in total principal amount not to exceed two hundred fifty million dollar…

The total principal amount of bonds to be issued during any fiscal biennium shall not exceed fifty million dollars ($50,000,000), unless the General Assembly, by law, shall have authorized a greater principal amount to be issued during a fiscal biennium.

(a) Before any bonds may be issued during any fiscal biennium, the Arkansas Natural Resources Commission shall submit to the Governor a written plan for the work or projects to be financed with the proceeds derived from the sale of the bonds, the need for the work or projects, an…

Bonds issued under this subchapter shall be issued for the purpose of financing and development of waste disposal facilities or pollution abatement facilities, and the proceeds of the bonds shall be applied for the payment of project costs and the costs and expenses of issuance o…

The bonds may be issued in the form of coupon bonds, payable to bearer, or as bonds registered as to principal only with interest coupons, or as bonds registered as to both principal and interest without coupons; may be in such denominations; and may be made exchangeable for bond…

(a) The bonds shall be issued in series as set forth in this section, in amounts sufficient to finance all or any part of project costs with the respective series to be designated in alphabetical order or by the year in which issued. (b) The bonds of each series shall:(1) (A) Hav…

(a) (1) The bonds shall be authorized by resolution of the Arkansas Natural Resources Commission.(2) Each resolution shall contain such terms, covenants, and conditions as are deemed desirable, including, without limitation, those pertaining to the establishment and maintenance o…

(a) (1) Each bond shall be signed with the facsimile signatures of the Governor, the Secretary of State, and the Chair of the Arkansas Natural Resources Commission and with the manual signature of the Treasurer of State or by one (1) or more deputies of the Treasurer of State.(2)…

(a) Bonds shall be sold at public sale on sealed bids, after notice published by the Chair of the Arkansas Natural Resources Commission by at least one (1) insertion not less than twenty (20) days before the date of sale in a newspaper published in the City of Little Rock and in …

(a) The bonds shall be the direct general obligations of the State of Arkansas for the payment of debt service on which the full faith and credit of the State of Arkansas are irrevocably pledged so long as any such bonds are outstanding. (b) The bonds shall be payable from the ge…

(a) (1) On or before commencement of each fiscal year, the Chief Fiscal Officer of the State shall determine the estimated amount required for payment for all or a part of debt service on the bonds issued under this subchapter during that fiscal year, after making deductions ther…

(a) All bonds issued under this subchapter and interest on the bonds shall be exempt from all taxes of the State of Arkansas, including income, inheritance, and property taxes. (b) The bonds shall be eligible to secure deposits of all public funds and shall be legal for investmen…

(a) This subchapter shall constitute a contract between the State of Arkansas and the holders or registered owners of all bonds issued under this subchapter which shall never be impaired, and any violation of its terms, whether under purported legislative authority or otherwise, …

This subchapter shall not create any right of any character and no right of any character shall arise under or pursuant to this subchapter unless and until the first series of bonds authorized by this subchapter shall have been sold and delivered.

(a) The proceeds from the sale of the bonds, together with all revenues derived by the Arkansas Natural Resources Commission from any project financed under this subchapter, shall be deposited by the commission, as received, into trust funds in the State Treasury to accomplish th…