(a) Any city or incorporated town in the State of Arkansas may purchase or construct a waterworks system, or construct betterments and improvements to its waterworks system, or to a system owned by a waterworks district and operated by the city or town, as provided in this subchapter.
(b) Any city operating a waterworks system owned, constructed, or acquired by a waterworks district is authorized to use the revenue derived from operating the waterworks system in paying revenue bonds and the interest on the bonds issued under and pursuant to the terms of this subchapter, and, for that purpose may create a sinking fund, and other items prescribed by this subchapter, operating expenses, and maintenance and improvement of the existing system owned by the district. The balance of the revenue remaining shall be paid by the city to the district to be used in retiring obligations of the district.
Section: Previous 14-234-202 14-234-203 14-234-204 14-234-205 14-234-207 14-234-208 14-234-209 14-234-210 14-234-211 14-234-212 14-234-213 14-234-214 14-234-215 14-234-216 NextLast modified: November 15, 2016