Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
(a) Any local government desiring to own, acquire, construct, reconstruct, remodel, equip, extend, operate, maintain, or otherwise provide improvements may establish a reserve for those improvements so that the costs thereof may be accumulated out of revenues from year to year.
(b) The reserve shall be authorized by resolution of the governing body, provided that a reserve for a local government board, agency, or commission shall also be approved by resolution of the governing body creating the board, agency, or commission.
Cite this article: FindLaw.com - Arkansas Code Title 14. Local Government § 14-73-102. Reserve for improvements - last updated January 01, 2020 | https://codes.findlaw.com/ar/title-14-local-government/ar-code-sect-14-73-102/
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.