Arkansas Code Title 14, Subtitle 16, Chapter 269, Subchapter 1 - Acquisition, Construction, and Maintenance of Recreational Facilities

• § 14-269-101 - 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...
• § 14-269-102 - Construction.
  (a) This subchapter shall be liberally construed to accomplish its purposes.(b) Nothing in this subchapter shall be construed to authorize any municipality to issue...
• § 14-269-103 - General Authority -- Agreements With Federal Agencies -- Condemnation Proceedings.
  (a) Any municipality in this state is authorized to own, acquire, construct, reconstruct, extend, equip, improve, operate, maintain, sell, lease, contract concerning, or otherwise...
• § 14-269-104 - Commission.
  (a) Any municipality, at its option, may establish a commission to acquire, construct, reconstruct, extend, equip, improve, and operate any project under this subchapter.(b)...
• § 14-269-105 - Bonds -- Authority to Issue.
  (a) Municipalities are authorized to use any available revenues for the accomplishment of the purposes set forth in § 14-269-103, and are authorized to...
• § 14-269-106 - Bonds -- Issuance, Sale, and Execution.
  (a) (1) The issuance of revenue bonds shall be by ordinance of the municipality. (2) The bonds may be coupon bonds payable to bearer...
• § 14-269-107 - Bonds -- Issuance for Refunding of Obligations.
  (a) Revenue bonds may be issued under this subchapter for the purpose of refunding any obligations issued under this subchapter.(b) The refunding bonds may...
• § 14-269-108 - Bonds -- Indebtedness As Special Obligation -- Payment of Principal and Interest.
  (a) The revenue bonds issued under this subchapter shall not be general obligations of the municipality but shall be special obligations. In no event...
• § 14-269-109 - Bonds -- Mortgage Lien.
  (a) Subject to the subsequent provisions of this section, there shall exist a statutory mortgage lien upon the land, buildings, and facilities acquired, constructed,...
• § 14-269-110 - Bonds -- Default in Payment.
  (a) In the event of a default in the payment of the principal of, or interest on, any revenue bonds issued under this subchapter,...
• § 14-269-111 - Bonds -- Tax Exemption.
  Bonds issued under this subchapter shall be exempt from all state, county, and municipal taxes, including income and inheritance taxes.
• § 14-269-112 - Bonds -- Investment of Public Funds.
  (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...

Last modified: November 15, 2016