Arkansas Code Title 14, Subtitle 10, Chapter 170, Subchapter 2 - Tourism Revenue Bonds
- § 14-170-201 - Legislative Determination.
The tourist industry is legislatively determined to be an industry within the meaning of that term as used in Arkansas Constitution, Amendment 49 [repealed],...
- § 14-170-202 - Definitions.
As used in this subchapter, unless the context otherwise requires: (1) "Governing body" means the council, board of directors, or city commission of any...
- § 14-170-203 - Construction.
This subchapter shall be liberally construed to accomplish its purposes and shall be the sole act and authority necessary to be complied with.
- § 14-170-204 - Limitations on Authority.
Nothing in this subchapter shall be construed to authorize any municipality or county to sell bonds or use the proceeds of them to purchase...
- § 14-170-205 - Authority Generally.
Any municipality and any county in this state is authorized to own, acquire, construct, reconstruct, extend, equip, improve, operate, maintain, sell, lease, contract concerning,...
- § 14-170-206 - Funding Authorized.
(a) Municipalities and counties are authorized to use any available revenues for the accomplishment of tourism projects, either alone or together with other available...
- § 14-170-207 - Bonds Generally.
(a) (1) The issuance of bonds shall be by ordinance of the municipality or order of the county court. (2) As the ordinance or...
- § 14-170-208 - Refunding Bonds.
(a) (1) Bonds may be issued under this subchapter for the purpose of refunding any obligations issued under this subchapter. (2) Refunding bonds may...
- § 14-170-209 - Security for Bonds -- Special Obligations.
(a) (1) The bonds issued under this subchapter shall not be general obligations of the municipality or county but shall be special obligations. In...
- § 14-170-210 - Statutory Mortgage Lien.
(a) (1) Subject to the provisions of this section, there shall exist a statutory mortgage lien upon the land, buildings, or facilities acquired, constructed,...
- § 14-170-211 - Default in Bond Payment.
(a) (1) (A) In the event of a default in the payment of the principal of, or interest on, any bonds issued under this...
- § 14-170-212 - Bonds -- Tax Exemption.
(a) Bonds issued under this subchapter shall be exempt from all state, county, and municipal taxes.(b) This exemption includes income and inheritance taxes.
- § 14-170-213 - Public Investment in Bonds.
(a) Any municipality, or any board, commission, or other authority duly established by ordinance of any municipality, or the board of trustees, respectively, of...
- § 14-170-214 - Intergovernmental Agreements.
Municipalities and counties are authorized to enter into and carry out appropriate agreements with any agency or political subdivision of the federal government or...
Last modified: November 15, 2016