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Arkansas Code Title 14. Local Government § 14-232-104. Revenue bonds--Issuance--Amount

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

(a) Counties and municipalities are authorized to use any available revenues for the accomplishment of the purposes set forth in § 14-232-103(a), including the proceeds of revenue bonds issued under the authority of this chapter, either alone or together with other available funds and revenues.

(b) The amount of revenue bonds issued shall be sufficient to pay:

(1) The cost of accomplishing the specified purposes;

(2) The cost of issuing bonds;

(3) The amount necessary for a reserve, if desirable;

(4) The amount necessary to provide for debt service on 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 § 14-232-104. Revenue bonds--Issuance--Amount - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-14-local-government/ar-code-sect-14-232-104/

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