Arkansas Code Title 14. Local Government § 14-72-104. Revenue bonds when receiver appointed for water, sewer, or combined water and sewer system--Definition

(1) Operating costs incurred before or during the receivership;

(2) Necessary capital improvements to the system;

(3) Necessary repairs and replacements to the system;

(4) Refunding indebtedness incurred before or during the receivership;

(5) The costs of water purchases;

(6) The costs of treating wastewater; and

(7) Any other costs related to the system that are approved by the court having jurisdiction over the receivership.

(c)(1) Revenue bonds may be issued on behalf of a municipality, public facilities board, or public water authority owning a system by a receiver under subsection (b) of this section only with the approval of the court having jurisdiction over the receivership.

(2) The municipality, public facilities board, or public water authority that owns the system for which revenue bonds are issued under this section shall pay the indebtedness and interest on the indebtedness from the revenues of the system during the term of the revenue bonds.

(1) For a municipality, one (1) or more of the following:

(2) For a public facilities board, the Public Facilities Boards Act, § 14-137-101 et seq.; and

(3) For a public water authority, the Water Authority Act, § 4-35-101 et seq.