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Current as of March 28, 2024 | Updated by Findlaw Staff
(a) The State Highway Commission may provide in its resolution authorizing the issuance of the bonds or in the trust indenture executed in connection therewith that additional bonds may thereafter be authorized and issued, at one (1) time or from time to time, when necessary for the completion of the construction or reconstruction of any bridge and the acquisition, construction, and reconstruction of approaches thereto, or for the completion of the construction of any ferry and the acquisition and construction of approaches thereto.
(b) Additional bonds will be secured and be payable from the revenues of the bridge or ferry equally with all other bonds issued pursuant to the resolution, without preference or distinction between any one bond and any other bond by reason of priority of issuance or otherwise.
Cite this article: FindLaw.com - Arkansas Code Title 27. Transportation § 27-88-118. Issuance of additional bonds - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-27-transportation/ar-code-sect-27-88-118/
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 before relying on it for your legal needs.
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