Arkansas § 14-164-219 Refunding bonds

Arkansas Statutes

§ 14-164-219 — Refunding bonds

Arkansas § 14-164-219

Title14

This text of Arkansas § 14-164-219 (Refunding bonds) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 14-164-219 (2026).

Text

(a)(1) Revenue bonds may be issued under this subchapter for the purpose of refunding any obligations issued under this subchapter.

(2)Refunding bonds may be combined with bonds issued under the provisions of § 14-164-206 into a single issue.

(b)(1) When bonds are issued under this section for refunding purposes, the bonds may either be sold or delivered in exchange for the outstanding obligations.

(2)If sold, the proceeds may be either applied to the payment of the obligations refunded or deposited in escrow for the retirement of them.

(c)(1) The ordinance or order under which the refunding bonds are issued may provide that any of the bonds shall have the same priority of lien on the revenues pledged for their payment as was enjoyed by the obligations refunded by them.

(2)Refunding

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(a) (1) Revenue bonds may be issued under this subchapter for the purpose of refunding any obligations issued under this subchapter. (2) Refunding bonds may be combined with bonds issued under the provisions of § 14-164-206 into a single issue. (b) (1) When bonds are issued under this section for refunding purposes, the bonds may either be sold or delivered in exchange for the outstanding obligations. (2) If sold, the proceeds may be either applied to the payment of the obligations refunded or deposited in escrow for the retirement of them. (c) (1) The ordinance or order under which the refunding bonds are issued may provide that any of the bonds shall have the same priority of lien on the revenues pledged for their payment as was enjoyed by the obligations refunded by them. (2) Refunding bonds shall be issued and secured in the manner provided for other bonds issued under this subchapter and shall have all the attributes of these bonds.

Legislative History

Acts 1960 (Ex. Sess.), No. 9, § 7; 1965, No. 383, § 2; 1975 (Extended Sess., 1976), No. 1239, § 3; A.S.A. 1947, § 13-1607; reen. Acts 1987, No. 1020, § 1.