Arkansas Code Title 14, Subtitle 10, Chapter 164, Subchapter 8 - Local Government Energy Efficiency Project Bond Act

• § 14-164-801 - Title.
  This subchapter shall be known and may be cited as the "Local Government Energy Efficiency Project Bond Act".
• § 14-164-802 - Purpose -- Legislative Findings.
  (a) The purpose of this subchapter is to provide financing for energy efficiency projects for municipalities and counties under Arkansas Constitution, Amendment 89.(b) The...
• § 14-164-803 - Definitions.
  As used in this subchapter: (1) "Bonds" means bonds, notes, certificates, financing leases, or other interest-bearing instruments or evidences of indebtedness that are issued...
• § 14-164-804 - Energy Efficiency Projects Authorized.
  (a) (1) A municipality or county may enter into a guaranteed energy cost savings contract in order to reduce energy consumption or operating costs...
• § 14-164-805 - Method of Solicitation.
  A solicitation of a guaranteed energy cost savings contract by a county or municipality shall be consistent with applicable procurement laws.
• § 14-164-806 - Evaluation of Responses to Solicitations.
  (a) In a municipality's or county's evaluation of each qualified provider's response to a solicitation under § 14-164-805, the municipality or county shall include...
• § 14-164-807 - Guaranteed Energy Cost Savings Contract Requirements.
  (a) The following provisions are required in a guaranteed energy cost savings contract: (1) A statement that the municipality or county shall maintain and...
• § 14-164-808 - Bonds -- Issuance Generally.
  (a) (1) A municipality or county may issue bonds for an energy efficiency project within, near, or within and near the municipality or county....
• § 14-164-809 - Bonds -- Terms and Conditions.
  (a) As provided by an ordinance or trust indenture authorized under this subchapter, bonds may: (1) Be in registered or other form; (2) Be...
• § 14-164-810 - Bonds -- Trust Indenture.
  (a) The ordinance authorizing bonds may provide for the execution by the chief executive officer of the issuer of a trust indenture that: (1)...
• § 14-164-811 - Bonds -- Sale.
  (a) Bonds may be sold at a public or private sale for the price and in the manner determined by the legislative body of...
• § 14-164-812 - Bonds -- Execution.
  Bonds shall be executed in the manner provided by the Registered Public Obligations Act of Arkansas, § 19-9-401 et seq.
• § 14-164-813 - Bonds -- Payment -- Security.
  (a) The principal of and interest on the bonds may be secured by a pledge of the operating cost savings derived from the energy...
• § 14-164-814 - Bonds -- Energy Efficiency Project Liens.
  (a) An ordinance or trust indenture authorized under § 14-164-808 or § 14-164-810 may impose a financing lien on an energy efficiency project financed...
• § 14-164-815 - Liability of Legislative Body's Officers, Employees, and Members.
  An officer, employee, or member of the legislative body of an issuer under this subchapter shall not be personally liable on bonds or for...
• § 14-164-816 - Tax Exemption.
  Bonds and the income on the bonds are exempt from all state, county, and municipal taxes, including without limitation income, property, and inheritance taxes.
• § 14-164-817 - Refunding Bonds.
  (a) Bonds may be issued to refund any outstanding bonds or to refund any outstanding bonds issued under any other law for the purpose...
• § 14-164-818 - Applicability.
  This subchapter: (1) Applies only to municipalities and counties; and (2) Does not apply to the following governmental units: (A) The state and any...
• § 14-164-819 - Subchapter Supplemental to Other Laws.
  This subchapter is: (1) Supplemental to other laws, and municipalities and counties may use other applicable laws in the issuance of bonds and other...
• § 14-164-820 - Construction.
  This subchapter shall be construed liberally to effectuate the legislative intent and the purposes of this subchapter as a complete and independent authority for...
• § 14-164-821 - Rules.
  A municipality or county may provide by ordinance that the municipality or county shall comply with the rules promulgated by the Arkansas Energy Office...

Last modified: November 15, 2016