Arkansas Code Title 14, Subtitle 12, Chapter 201, Subchapter 1 - Cities of the First Class Generally
- § 14-201-101 - Scope of Subchapter.
(a) Any water or waterworks commission in this state now operating under §§ 14-234-301 -- 14-234-309 shall be excluded from all the provisions of...
- § 14-201-102 - Construction of Subchapter.
(a) (1) Nothing in this subchapter shall be construed to reduce or take away any of the powers or authority of the city council...
- § 14-201-103 - Applicability of Subchapter.
The provisions of this subchapter shall not apply to any commission, agency, or board created otherwise than pursuant to this subchapter by any city...
- § 14-201-104 - Powers of City Council.
(a) (1) Any city of the first class owning and operating either a waterworks and distribution system or electrical light plant and system, or...
- § 14-201-105 - Creation of Commission -- Members.
(a) (1) Any city of the first class in which it is desired to establish such a utility commission, by a majority vote of...
- § 14-201-106 - Compensation of Commissioners.
The commissioners shall receive ten dollars ($10.00) per day while attending meetings of the commission. In addition, they shall be reimbursed for expenses incurred...
- § 14-201-107 - Oath of Commissioners.
Before entering upon their duties as commissioners, each member of the commission shall take the oath prescribed by Arkansas Constitution, Article 19, § 20.
- § 14-201-108 - Removal From Office of Commissioner.
A member of the commission may be removed from office by the mayor and a two-thirds (2/3) vote of the city council for malfeasance,...
- § 14-201-109 - Abolition of Commission.
(a) (1) A utility commission established under this subchapter by the city council or other governing body may be abolished by a majority vote...
- § 14-201-110 - General Powers of Commission.
(a) (1) The commission shall have full power to manage, operate, improve, extend, maintain, and contract concerning the municipal waterworks and distribution system or...
- § 14-201-111 - Authority to Borrow, Issue Bonds or Notes -- Pledge of Revenues.
(a) The commission may borrow money and issue negotiable evidences of debt therefor either in the form of bonds or short-term notes, and it...
- § 14-201-112 - Bonds or Notes -- Issuance Generally.
The issuance of bonds or notes shall be by a resolution of the commission.
- § 14-201-113 - Bonds or Notes -- Terms and Conditions.
(a) The bonds or notes may: (1) Be coupon bonds payable to bearer, subject to registration as to principal or as to principal and...
- § 14-201-114 - Bonds or Notes -- Trust Indenture.
(a) The authorizing resolution may provide for the execution of a trust indenture by the commission with a bank or trust company within or...
- § 14-201-115 - Bonds or Notes -- Contents.
It shall be plainly stated on the face of each bond or note that it has been issued under the provisions of this subchapter...
- § 14-201-116 - Bonds or Notes -- Sale.
The bonds or notes may be sold at public or private sale, for such price, including, without limitation, sale at a discount, and in...
- § 14-201-117 - Bonds or Notes -- Nature of Indebtedness.
(a) The bonds and notes shall not be general obligations of the city, but shall be special obligations payable from and secured by a...
- § 14-201-118 - Bonds or Notes -- Priority Among Issues.
Priority between successive issues may be controlled by the resolution.
- § 14-201-119 - Refunding Bonds or Notes.
(a) Bonds or notes may be issued for the purpose of refunding any bonds or notes issued under this subchapter, or for the purpose...
- § 14-201-120 - Default in Payment of Notes or Bonds -- Receiver.
(a) If the commission defaults in the payment of any note or bond issued by it in either principal or interest, the holder of...
- § 14-201-121 - Use of Fees and Charges -- Pledges -- Surplus.
(a) For so long as any bond or notes are outstanding and unpaid, the rates, fees, and charges for water and electricity charged and...
- § 14-201-122 - Meetings and Records.
All meetings of the commission shall be open to the public, and all rules, regulations, and records of the commission are public records.
- § 14-201-123 - Quarterly Report to City Council.
The commission shall report to the city council on each calendar quarter of the year on the state of the operations of the commission...
- § 14-201-124 - Annual Audit.
At the end of each fiscal year, the commission shall cause an audit to be made of the financial affairs of the commission by...
- § 14-201-125 - Rules and Regulations for Operation -- Injunctions.
(a) The commission shall adopt such rules and regulations as it deems necessary and proper for the operation and management of the waterworks and...
- § 14-201-126 - Enforcement of Rights Under Resolution or Trust Indenture.
Any holder or registered owner of bonds or notes, or coupons appertaining to bonds, except to the extent the rights herein given may be...
- § 14-201-127 - Bonds -- Tax Exemption.
Bonds and notes issued under the provisions of this subchapter, and the interest thereon, shall be exempt from all state, county, and municipal taxes,...
- § 14-201-128 - Investment of Public Funds in Bonds or Notes.
Any municipality or any board, commission, or other authority duly established by ordinance of any municipality, or the board of trustees, respectively, of the...
- § 14-201-129 - Social Security, Pension, and Retirement for Employees.
The commission is authorized to provide a plan of social security, old age pension, or retirement pay for a part or all of the...
Last modified: November 15, 2016