Arkansas § 14-203-119 Storm recovery costs

Arkansas Statutes

§ 14-203-119 — Storm recovery costs

Arkansas § 14-203-119

Title14

This text of Arkansas § 14-203-119 (Storm recovery costs) 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. § 14-203-119 (2026).

Text

(a)A municipality shall not issue bonds for the sole purpose of paying storm recovery costs related to a storm unless:

(1)The Arkansas Public Service Commission has previously adopted a financing order that allows for the issuance of storm recovery bonds by a public utility due to the same storm; or (2) Upon request to the commission for an emergency storm declaration.

(b)A municipality that issues bonds for the purpose of payment of storm recovery costs shall take reasonable steps to mitigate the financial impact of bonds on customers of a municipal electric utility by:

(1)Pursuing recovery of costs incurred during storm recovery operations that were unnecessary or unreasonable; and (2) Utilizing any grant funding or assistance to reduce the amount of storm recovery costs that may be

Free access — add to your briefcase to read the full text and ask questions with AI

(a) A municipality shall not issue bonds for the sole purpose of paying storm recovery costs related to a storm unless: (1) The Arkansas Public Service Commission has previously adopted a financing order that allows for the issuance of storm recovery bonds by a public utility due to the same storm; or (2) Upon request to the commission for an emergency storm declaration. (b) A municipality that issues bonds for the purpose of payment of storm recovery costs shall take reasonable steps to mitigate the financial impact of bonds on customers of a municipal electric utility by: (1) Pursuing recovery of costs incurred during storm recovery operations that were unnecessary or unreasonable; and (2) Utilizing any grant funding or assistance to reduce the amount of storm recovery costs that may be available to the municipality.