Arkansas Code Title 14, Subtitle 11, Chapter 184, Subchapter 1 - General Provisions

• § 14-184-101 - Title.
  This subchapter may be referred to and cited as the "Central Business Improvement District Act."
• § 14-184-102 - Purpose.
  This subchapter shall be construed as cumulative of existing laws relating to the creation, operation, and existence of municipal improvement districts and shall not...
• § 14-184-103 - Legislative Determinations.
  (a) It is determined and declared by the General Assembly that: (1) The deterioration of the central business districts of urban centers of the...
• § 14-184-104 - Definitions.
  As used in this subchapter, unless the context otherwise requires: (1) "Acquire" means obtain property rights by gift, purchase, devise, bequest, eminent domain, lease,...
• § 14-184-105 - Construction.
  (a) This subchapter shall be construed liberally.(b) The enumeration of any object, purpose, power, manner, method, and thing shall not be deemed to exclude...
• § 14-184-106 - Other Laws Applicable.
  Except as otherwise provided in this subchapter, the provisions of Acts 1881, No. 84; Acts 1899, No. 183; and all other laws of the...
• § 14-184-107 - Authority to Create Districts.
  The governing body of any first-class or second-class municipality of the state is authorized to create, by ordinance, one (1) or more central business...
• § 14-184-108 - Petition for Organization -- Notice and Hearing.
  (a) (1) (A) When persons claiming to be owners of two thirds (2/3) in assessed value, as shown by the last county assessment, of...
• § 14-184-109 - Rules Governing Petitions.
  (a) After the filing of a petition for the creation of a central business improvement district, no petitioner shall be permitted to withdraw his...
• § 14-184-110 - Organizational Expenses.
  A central business improvement district organized under this subchapter is authorized to pay reasonable compensation to those persons who have done necessary or desirable...
• § 14-184-111 - Board of Commissioners.
  (a) (1) (A) In the ordinance creating a central business improvement district, the governing body shall appoint a minimum of five (5) persons who...
• § 14-184-112 - Plans and Estimated Cost of Improvement.
  (a) (1) As soon as is practicable after the qualification of its members, the board of commissioners for a central business improvement district shall...
• § 14-184-113 - Expenditures for Services.
  (a) (1) In the preparation of the plan of improvement, a central business improvement district is authorized to employ architects and engineers to prepare...
• § 14-184-114 - Abandonment of Improvement.
  (a) (1) If for any cause the improvement shall not be made, the cost shall be a charge upon the real property in the...
• § 14-184-115 - Powers of Improvement District Generally.
  A central business improvement district shall have all powers necessary or desirable to undertake and carry out any or all parts of the planned...
• § 14-184-116 - Power of Eminent Domain.
  (a) The right and power of eminent domain is conferred upon a central business improvement district to enter upon, take, and condemn private property...
• § 14-184-117 - Powers of Municipal Governing Bodies.
  The governing body of any municipality shall have all powers necessary or desirable to undertake and carry out, or to assist a central business...
• § 14-184-118 - Supplemental Annual Assessments.
  (a) (1) In order to effectuate the plan of improvement and to maintain the improvements constructed under it, it may be desirable to provide...
• § 14-184-119 - Revenue-Producing Facilities.
  (a) (1) Nothing in this subchapter shall be deemed to limit or prohibit the operation of any facility which is a part of the...
• § 14-184-120 - Authority to Borrow, Issue Bonds, Etc. -- Security -- Amount.
  (a) For the purpose of providing funds to pay preliminary expenses, to construct improvements according to the plan, or to pay for an improvement...
• § 14-184-121 - Bonds -- Authorizing Resolution.
  (a) The bonds of the district, whether payable from assessments, from revenues, or from both shall be authorized by a resolution of the board...
• § 14-184-122 - Bonds -- Terms and Conditions.
  (a) As the board of commissioners shall determine, the bonds may: (1) Be coupon bonds, payable to bearer, or may be registrable as to...
• § 14-184-123 - Bonds -- Trust Indenture.
  (a) The authorizing resolution may provide for the execution by the district with a bank or trust company, within or without the State of...
• § 14-184-124 - Bonds -- Sale.
  (a) The bonds may be sold for such price, including without limitation sale at a discount, and at such rate of interest and in...
• § 14-184-125 - Bonds -- Execution and Seal.
  (a) (1) (A) The bonds shall be executed by the manual or facsimile signature of the chairman of the board and by the manual...
• § 14-184-126 - Refunding Bonds.
  (a) (1) Bonds may be issued for the purpose of refunding any bonds issued under this subchapter. (2) (A) Refunding bonds may be either...
• § 14-184-127 - Obligation on Bonds.
  (a) (1) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this subchapter,...
• § 14-184-128 - Bonds -- Tax Exemption.
  (a) Bonds issued under the provisions of this subchapter and the interest on them shall be exempt from all state, county, and municipal taxes.(b)...
• § 14-184-129 - Public Investment in Bonds.
  (a) Any municipality; any board, commission, or other authority duly established by ordinance of any municipality; the boards of trustees, respectively, of the firemen's...
• § 14-184-130 - Dissolution of District.
  (a) A central business improvement district created under this subchapter shall continue in existence in perpetuity unless dissolved by ordinance of the governing body...

Last modified: November 15, 2016