Arkansas Code Title 27, Subtitle 6, Chapter 88 - Bonds for Construction and Operation

• § 27-88-101 - Liberal Construction.
  This chapter shall be liberally construed to effectuate the purposes thereof.
• § 27-88-102 - Definitions.
  As used in this chapter, unless the context otherwise requires: (1) "Commission" means the State Highway Commission of the State of Arkansas; (2) "Construction"...
• § 27-88-103 - Scope of Authority.
  (a) This chapter shall be deemed, without reference to any other statute, full authority for: (1) The construction or reconstruction of any bridge or...
• § 27-88-104 - Authority to Issue Bonds -- Use of Funds.
  (a) Whenever the State Highway Commission shall determine on the basis of a traffic and engineering survey that the public convenience and necessity require...
• § 27-88-105 - Form of Bonds.
  (a) The bonds shall be in such form and denomination, have such dates and maturities not exceeding forty (40) years from their date, bear...
• § 27-88-106 - Redemption Before Maturity.
  All bonds issued under the provisions of this chapter, maturing on and after ten (10) years from their date, in the discretion of the...
• § 27-88-107 - Seal.
  The State Highway Commission is authorized to adopt and use a seal in the execution and issuance of bonds authorized under the provisions of...
• § 27-88-108 - Sale.
  (a) The State Highway Commission is authorized to sell all the bonds of each issue issuable under this chapter at one (1) time, or...
• § 27-88-109 - No Right Arises Until Issuance and Sale.
  This chapter shall not create any right of any character, and no right of any character shall arise under or pursuant to it unless...
• § 27-88-110 - Investment of Proceeds From Sale.
  The State Highway Commission is further authorized to invest portions of the proceeds from the sale of such bonds as in its judgment may...
• § 27-88-111 - Temporary Notes or Bonds.
  Temporary notes or bonds conforming to this chapter, exchangeable for definitive bonds, may be issued in the discretion of the State Highway Commission.
• § 27-88-112 - Notes and Bonds As Negotiable Instruments.
  All bonds and notes issued under the provisions of this chapter shall be, and shall have, all the qualities and incidents of negotiable instruments...
• § 27-88-113 - Tax Exemption.
  The bonds issued under this chapter shall be exempt from the state income taxes.
• § 27-88-114 - Sinking Fund for Payment of Bonds.
  At or before the issuance of any bonds, the State Highway Commission shall: (1) By resolution provide for a sinking fund for the payment...
• § 27-88-115 - Operation and Maintenance Fund.
  (a) All revenues of the bridge or ferry not required under the provisions of this chapter to be paid into the sinking fund provided...
• § 27-88-116 - Tolls, Rates, and Fees.
  (a) The State Highway Commission is authorized, and it shall be its duty, by resolution to establish, maintain, and collect just and equitable tolls,...
• § 27-88-117 - Bonds Payable Solely From Bridge or Ferry Revenues.
  (a) Bonds issued under the provisions of this chapter shall be payable solely from the revenues derived from the bridge or ferry. These bonds...
• § 27-88-118 - Additional Bond Issues -- Equality.
  (a) The State Highway Commission may provide in its resolution authorizing the issuance of the bonds or in the trust indenture executed in connection...
• § 27-88-119 - Contracts With United States or Other States.
  For the purpose of carrying into effect the objects and purposes of this chapter, the State Highway Commission shall have full power and authority...
• § 27-88-120 - Conformity to Federal Law.
  All interstate bridges constructed or reconstructed under the terms of this chapter and all tolls, rents, fees, and other charges established for services rendered...
• § 27-88-121 - Right of Eminent Domain.
  For the purpose of acquiring any land, rights, easements, franchises, or other real or personal property deemed to be necessary or convenient for the...

Last modified: November 15, 2016