Arkansas Code Title 15, Subtitle 2, Chapter 20, Subchapter 13 - Arkansas Water, Waste Disposal, and Pollution Abatement Facilities Financing Act of 2007

• § 15-20-1301 - Title.
  This subchapter shall be known and may be cited as the "Arkansas Water, Waste Disposal, and Pollution Abatement Facilities Financing Act of 2007".
• § 15-20-1302 - Definitions.
  As used in this subchapter: (1) "Aquatic resources" means ecological functions, services, and values provided by the waters of the United States that are...
• § 15-20-1303 - Authority to Issue Bonds.
  (a) (1) The Arkansas Natural Resources Commission is hereby authorized to issue bonds of the State of Arkansas to be known as "State of...
• § 15-20-1304 - Terms and Characteristics of Bonds.
  (a) The bonds shall be issued in series in amounts sufficient to finance or refinance all or any part of project costs with the...
• § 15-20-1305 - Purpose of Bonds.
  Bonds issued under this subchapter shall be issued to finance on a temporary or permanent basis or to refinance and develop one (1) or...
• § 15-20-1306 - Resolutions and Trust Indentures.
  (a) (1) The bonds shall be authorized by resolution of the Arkansas Natural Resources Commission. (2) Each resolution shall contain the terms, covenants, and...
• § 15-20-1307 - Form of Bond -- Signatures.
  (a) Each bond shall: (1) Be signed with the manual or facsimile signatures of the Governor, the Chair of the Arkansas Natural Resources Commission,...
• § 15-20-1308 - Sale of Bonds.
  (a) The bonds may be sold: (1) Either at public or private sale in a manner and upon such terms as the Arkansas Natural...
• § 15-20-1309 - Proceeds of Bonds.
  (a) The proceeds from the sale of the bonds, together with all revenues derived by the Arkansas Natural Resources Commission from any project financed...
• § 15-20-1310 - Full Faith and Credit of State Pledged to Repay Bonds.
  The bonds shall be the direct general obligations of the state for the payment of debt service on which the full faith and credit...
• § 15-20-1311 - Payment of Debt Service on the Bonds.
  (a) (1) On or before the commencement of each fiscal year, the Chief Fiscal Officer of the State shall determine the estimated amount required...
• § 15-20-1312 - Bonds Exempt From State, County, and Municipal Taxes.
  Bonds and the interest on the bonds issued under this subchapter are exempt from state, county, and municipal taxes, including income taxes, inheritance taxes,...
• § 15-20-1313 - Refunding Bonds.
  (a) (1) Bonds may be issued under this subchapter to refund any outstanding bonds issued under this subchapter or to refund any outstanding bonds...
• § 15-20-1314 - Additional Powers of the Arkansas Natural Resources Commission.
  In addition to powers conferred under other laws, the Arkansas Natural Resources Commission may take appropriate action to carry out the purposes of this...
• § 15-20-1315 - No Impairment of Bond Obligations.
  (a) This subchapter constitutes a contract between the state and the registered owners of all bonds issued under this subchapter.(b) The contract shall never...
• § 15-20-1316 - No Obligations Until Bonds Issued.
  This subchapter shall not create any right of any character unless the first series of bonds authorized by this subchapter has been sold and
• § 15-20-1317 - No Impairment of Outstanding Bonds.
  The issuance of bonds authorized by this subchapter shall not impair or affect any outstanding bonds of the Arkansas Natural Resources Commission issued pursuant...
• § 15-20-1318 - Election.
  (a) (1) Bonds shall not be issued under this subchapter except with the consent of a majority of the qualified electors of the state...
• § 15-20-1319 - Effect of Election.
  (a) If a majority of the qualified electors voting on the question vote for the issuance of the bonds, the commission shall proceed with...
• § 15-20-1320 - No Waiver of Previous Authority to Issue Bonds.
  This subchapter shall not constitute a waiver of the authority to issue bonds under the prior act or any other legislation authorizing the issuance...
• § 15-20-1321 - Severability.
  If, for any reason, any section or provision of this subchapter shall be held to be unconstitutional or invalid for any reason, such holding...
• § 15-20-1322 - Cases Involving Bonds.
  A case involving the validity of this subchapter or involving the bonds issued under this subchapter shall be deemed of public interest and shall...
• § 15-20-1323 - Construction of Subchapter.
  (a) This subchapter shall be liberally construed to accomplish its purposes. This subchapter shall constitute the sole authority necessary to accomplish the purposes hereof,...

Last modified: November 15, 2016