Arkansas § 26-78-110 Authority to issue revenue bonds by counties and municipalities

Arkansas Statutes

§ 26-78-110 — Authority to issue revenue bonds by counties and municipalities

(a)Counties and municipalities are authorized to issue revenue bonds and to use the proceeds thereof either alone or together with other available funds and revenues for, in the case of the counties, the construction and reconstruction of roads, bridges, and other public ways in the county highway system including, without limitation, the acquisition of rights-of-way, and in the case of municipalities, the construction and reconstruction of streets and other public ways in the municipality including, without limitation, the acquisition of rights-of-way, and, in either case, to pay necessary incidental expenses, to pay the expenses of the bonds, and to provide for interest on bonds until revenues are available for the payment thereof.

(b)The issuance of revenue bonds shall be by ordinance

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(a) Counties and municipalities are authorized to issue revenue bonds and to use the proceeds thereof either alone or together with other available funds and revenues for, in the case of the counties, the construction and reconstruction of roads, bridges, and other public ways in the county highway system including, without limitation, the acquisition of rights-of-way, and in the case of municipalities, the construction and reconstruction of streets and other public ways in the municipality including, without limitation, the acquisition of rights-of-way, and, in either case, to pay necessary incidental expenses, to pay the expenses of the bonds, and to provide for interest on bonds until revenues are available for the payment thereof. (b) The issuance of revenue bonds shall be by ordinance in the case of a municipality and by order of the county court in the case of a county.

Arkansas § 26-78-110 (Authority to issue revenue bonds by counties and municipalities) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.