Arkansas § 14-169-1009 Proceeds from sale or lease

Arkansas Statutes

§ 14-169-1009 — Proceeds from sale or lease

Arkansas § 14-169-1009

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This text of Arkansas § 14-169-1009 (Proceeds from sale or lease) 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. § 14-169-1009 (2026).

Text

(a)In the event any county or municipality acquires surplus federal properties and subsequently sells or leases them, the proceeds from the sale or leasing shall first be applied to the payment of the debt created by the acquisition of the property, if any, in accordance with the terms of the mortgage or bond indebtedness.

(b)After payment of this indebtedness, any surplus shall be placed in the county or municipal general revenue fund.

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(a) In the event any county or municipality acquires surplus federal properties and subsequently sells or leases them, the proceeds from the sale or leasing shall first be applied to the payment of the debt created by the acquisition of the property, if any, in accordance with the terms of the mortgage or bond indebtedness. (b) After payment of this indebtedness, any surplus shall be placed in the county or municipal general revenue fund.