Arkansas Code Title 27, Subtitle 6, Chapter 90, Subchapter 2 - Turnpike Projects and Tolls

• § 27-90-201 - Definitions.
  As used in this subchapter, unless the context otherwise requires: (1) "Bonds", "turnpike revenue bonds", or "revenue bonds" means revenue bonds or notes of...
• § 27-90-202 - Authority of Commission to Undertake Turnpike Projects.
  (a) The State Highway Commission is authorized and empowered to: (1) (A) Acquire by purchase or exercise of its powers of eminent domain sites...
• § 27-90-203 - Authority of Commission to Collect Tolls.
  (a) The State Highway Commission is authorized to fix, revise, charge, and collect tolls for the use of each turnpike project and the different...
• § 27-90-204 - Revenue -- Use of Revenues.
  (a) Revenues derived from any turnpike project that are used to secure revenue bonds shall be deposited in a bank or banks selected by...
• § 27-90-205 - Issuance to Finance Turnpike Projects.
  (a) The State Highway Commission may issue turnpike revenue bonds from time to time in principal amounts sufficient to pay the costs of a...
• § 27-90-206 - Authorizing Resolution -- Terms.
  (a) Turnpike revenue bonds shall be authorized by resolution of the State Highway Commission, the authorizing resolution.(b) The bonds may be registrable as to...
• § 27-90-207 - Trust Indenture.
  (a) The authorizing resolution may provide for the execution by the State Highway Commission with a bank or trust company within or without the...
• § 27-90-208 - Sale.
  (a) Bonds issued under this subchapter may be sold at public or private sale, as determined by the State Highway Commission.(b) If sold at...
• § 27-90-209 - Execution.
  (a) Bonds shall be executed by the manual or facsimile signatures of the chair of the State Highway Commission and the secretary of the...
• § 27-90-210 - Liability on Bonds.
  (a) It shall be plainly stated on the face of each bond that it has been issued under this subchapter, and the bonds issued...
• § 27-90-211 - Security and Payment.
  (a) (1) The principal of and interest on all bonds issued under this subchapter shall be secured by a pledge of, and shall be...
• § 27-90-212 - Refunding Bonds.
  (a) Revenue bonds may be issued for the purpose of refunding any bonds issued under this subchapter.(b) Refunding bonds may be combined into a...
• § 27-90-213 - Scope of Revenue Bonds As Securities.
  (a) Revenue bonds issued under this subchapter are made securities in which all insurance companies, trust companies, banks, investment companies, executors, administrators, trustees, and...
• § 27-90-214 - Tax Exemption.
  (a) The principal of and interest on bonds issued under this subchapter shall be exempt from all state, county, and municipal taxes, and this...
• § 27-90-215 - Construction -- Scope of Authority.
  (a) (1) This subchapter shall be construed liberally. (2) All acts and activities authorized by this subchapter are legislatively determined and declared to be...

Last modified: November 15, 2016