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Arkansas Code Title 14. Local Government § 14-143-110. Issuance of revenue bonds--Authorization

Current as of March 28, 2024 | Updated by FindLaw Staff

(a) Authorities are authorized to use any available revenues for the accomplishment of the purposes and the implementation of the powers authorized by this chapter, including the proceeds of revenue bonds issued from time to time pursuant to the provisions of this chapter, either alone or together with other available funds and revenues.

(b) The amount of each issue of bonds issued may be sufficient to pay:

(1) The costs of accomplishing the purposes for which it is being issued;

(2) The cost of issuing the bonds;

(3) The amount necessary for a reserve, if it is determined to be desirable in favorably marketing the bonds;

(4) The amount, if any, necessary to provide for debt service on the bonds until revenues for the payment thereof are available; and

(5) Any other costs and expenditures of whatever nature incidental to the accomplishment of the specified purposes.

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Cite this article: FindLaw.com - Arkansas Code Title 14. Local Government § 14-143-110. Issuance of revenue bonds--Authorization - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-14-local-government/ar-code-sect-14-143-110/

Read this complete Arkansas Code Title 14. Local Government § 14-143-110. Issuance of revenue bonds--Authorization on Westlaw

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

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