Arkansas Code Title 14, Subtitle 14, Chapter 238 - Rural Waterworks Facilities Boards

• § 14-238-101 - Short Title.
  This chapter may be referred to and cited as the "Rural Waterworks Facilities Boards Act".
• § 14-238-102 - Legislative Intent.
  It is determined by the General Assembly that adequate rural waterworks and rural water distribution systems are essential to the health, safety, and economic...
• § 14-238-103 - Definitions.
  As used in this subchapter, unless the context otherwise requires: (1) "Acquire" means to obtain by gift, purchase, or other arrangement any project or...
• § 14-238-104 - Provisions Supplemental.
  This chapter shall be liberally construed to effect the purposes of it.
• § 14-238-105 - Construction of Chapter.
  This chapter shall be deemed to provide an additional and alternative method for the doing of the things authorized hereby and shall be regarded...
• § 14-238-106 - Creation of Boards.
  (a) Any county is authorized to create one (1) or more rural waterworks facilities boards and to empower each board to own, acquire, construct,...
• § 14-238-107 - Board Names -- Powers.
  (a) Each board shall be created by ordinance of the quorum court. The ordinance shall give the board a name which: (1) Shall include...
• § 14-238-108 - Members -- Compensation.
  (a) Each board shall consist of five (5) members unless there is an expansion of the board to provide services outside the county which...
• § 14-238-109 - Officers.
  (a) (1) (A) The members of each board shall meet and organize by electing one (1) of their number as chairman, one (1) as...
• § 14-238-110 - Meetings -- Quorum -- Actions -- Records.
  (a) (1) Each board shall meet upon the call of its chairman or a majority of its members and at such times as may...
• § 14-238-111 - Powers -- Duties.
  (a) Each board is authorized and empowered: (1) To have perpetual succession as a body politic and corporate and to adopt bylaws for the...
• § 14-238-112 - Acquisition of Property.
  (a) Any county may acquire facilities for a waterworks facility and/or wastewater facility project, or any portion thereof, including a project site, by gift,...
• § 14-238-113 - Funds.
  (a) Boards are authorized to use any available funds and revenues for the accomplishment of all or a portion of waterworks facilities and/or wastewater...
• § 14-238-114 - Issuance of Bonds -- Procedure.
  (a) (1) The issuance of bonds shall be by resolution of the board. (2) As the resolution authorizing their issuance may provide, the bonds...
• § 14-238-115 - Bonds for Refunding Obligations.
  (a) Bonds may be issued for the purpose of refunding any obligations issued under this chapter. Such refunding bonds may be combined with bonds...
• § 14-238-116 - Payment of Bonds.
  (a) The principal of and interest on the bonds shall be payable from: (1) Revenues derived from the waterworks facilities and/or wastewater facilities projects...
• § 14-238-117 - Bonds May Impose Mortgage Lien.
  (a) The resolution or indenture referred to in § 14-238-114 may, or may not, impose a foreclosable mortgage lien upon or security interest in...
• § 14-238-118 - Receiver.
  (a) (1) In the event of a default in the payment of the principal of or interest on any bonds issued under the provisions...
• § 14-238-119 - Bonds As Obligation of Issuing Board.
  (a) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this chapter, that...
• § 14-238-120 - Bonds Tax Exempt.
  Bonds issued under this chapter and the income therefrom shall be exempt from all state, county, and municipal taxes. This exemption includes income and...
• § 14-238-121 - Property Exempt.
  (a) It is declared that each board created pursuant to this subchapter will be performing public functions and will be a public instrumentality of...
• § 14-238-122 - Report by Boards.
  (a) Within the first ninety (90) days of each calendar year, each board shall make a written report to the quorum court of the...
• § 14-238-123 - Audits.
  (a) Each board shall annually contract with a certified public accountant to perform an audit of the board's revenues which are not pledged to...
• § 14-238-124 - Alternative Membership Selection.
  (a) If so prescribed, successor members shall be elected by a majority of members from a list of nominated candidates.(b) A candidate may be...

Last modified: November 15, 2016