reglab/housing_qa huggingface dataset:
AR Code § 14-234-502 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 5 - Joint Systems|§ 14-234-502. Construction

 (a) This subchapter shall be construed as cumulative authority for the purchase or construction of a waterworks system and shall not be construed to limit or repeal any existing law with reference thereto.  (b)  (1) This subchapter shall, without reference to any other statute, be deemed full authority for the acquisition, construction, improvement, equipment, maintenance, operation, and repair of the waterworks systems provided for in this subchapter and for the issuance and sale of the bonds authorized under the provisions of this subchapter.  (2) This subchapter shall be construed as an additional and alternative method therefor and for the financing thereof.  (3) No petition or election or other or further proceedings in respect to the acquisition or construction of the waterworks systems, or to the issuance or sale of bonds under this subchapter, and no publication of any resolution, ordinance, notice, or proceedings relating to such acquisition or construction, or the issuance or sale of bonds, shall be required except such as are prescribed by this subchapter, any provision or other statutes of the state to the contrary notwithstanding.    (c) All functions, powers, and duties of the State Board of Health shall remain unaffected by this subchapter.  (d) This subchapter, being necessary for the public health, safety, and welfare, shall be liberally construed to effectuate its purposes.
AR Code § 14-234-503 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 5 - Joint Systems|§ 14-234-503. Authority for joint undertaking

 (a) Any two (2) or more municipalities in the State of Arkansas may join in the purchase or construction of a waterworks system for each of the municipalities, execute the joint obligation of the several municipalities, and secure the payment thereof by a joint pledge of the net revenues derived from the operation of the several waterworks systems until the obligations, principal and interest, shall be fully paid, as provided in this subchapter.  (b)  (1) Any city of the first class having a city manager form of government and divided by a state line shall have the authority to join in the purchase, construction, and operation of a waterworks system with the adjoining city in another state for each of the municipalities, and to execute an agreement for the joint obligation of the municipalities and secure the payment thereof by a joint pledge of the net revenues derived from the operation of the waterworks systems.  (2) The municipalities shall employ a joint manager for the operation of the waterworks system who shall be hired by the city managers of the municipalities and who shall serve under the direct supervision of the city managers jointly.
AR Code § 14-234-504 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 5 - Joint Systems|§ 14-234-504. Cost estimate — Contents of ordinances — Bonds

 (a) Whenever the respective legislative bodies of two (2) or more municipalities shall determine to purchase or construct a waterworks system for the respective municipalities under the provisions of this subchapter, they shall cause an estimate to be made of the costs thereof and shall, by ordinances, provide for the issuance of revenue bonds under the provisions of this subchapter.  (b) The ordinances shall set forth a brief description of the contemplated respective improvements, the estimated costs thereof, the amount, rate of interest, time and place of payment, and other details in connection with the issuance of the bonds.  (c)  (1) The bonds shall bear interest at such rate or rates, payable semiannually, and shall be payable at such times and places not exceeding thirty-five (35) years from their date, as shall be prescribed in the respective ordinances providing for their issuance.  (2) The bonds shall be executed by all of the municipalities joining in the undertaking by their respective mayors and clerks or recorders and be the joint and several obligations of the several municipalities.    (d) The ordinances of the respective municipalities shall also declare that a statutory mortgage lien shall exist upon the respective properties so to be acquired or constructed, fix the minimum rate or rates for water to be collected within the respective municipalities prior to the payment of all of the bonds, and pledge the net revenues of the respective municipalities derived from the waterworks systems in the respective municipalities for the purpose of paying the principal of and interest on the bonds.  (e) The rates to be charged within each municipality for the services from the waterworks system within each municipality shall be sufficient to produce total net revenues from all of the municipalities joining in the undertaking to provide for the payment of interest upon all of the bonds issued to provide funds for the costs of acquisition or construction of all of the waterworks systems and to create a sinking fund to pay the principal of the bonds as and when it becomes due.  (f) The respective ordinances shall also provide for the operation and maintenance of the respective waterworks systems and to provide adequate depreciation funds.
AR Code § 14-234-505 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 5 - Joint Systems|§ 14-234-505. Ordinances — Additional provisions

 (a) The several ordinances authorized in the issuance of the revenue bonds may contain provisions for the acceleration of the maturities of all unmatured bonds in the event of default in the payment of any principal or interest maturing under the bond issue, upon failure to meet any sinking fund requirements, or in any other event stipulated in the ordinances. These provisions will be binding.  (b) The priorities as between successive issuance of revenue bonds may also be controlled by the provisions of the ordinances.  (c) The ordinances may also, if deemed desirable, provide for the execution of an indenture, contemporaneously with the execution of the bonds, by the several municipalities:  (1) Defining the rights of the bondholders inter sese;  (2) Appointing a trustee for the bondholders, which trustee may be a foreign or domestic corporation, vesting in that trustee, to the extent deemed advisable, all rights of action under the bonds;  (3) Providing for the priority of lien as between successive bond issues;  (4) Providing for the acceleration of bond maturities, and containing any covenants on the part of the municipalities relating to the acquisition or construction of the waterworks systems, or the application or safeguarding of the proceeds of the bonds, or other covenants intended for the protection of the bondholders; and  (5) Containing any other provisions, whether similar or dissimilar to the foregoing, which are consistent with the terms of this subchapter and which may be deemed desirable.
AR Code § 14-234-506 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 5 - Joint Systems|§ 14-234-506. Ordinances — Publication — Hearing

 (a) After the passage of the ordinance, it shall be published one (1) time in a newspaper published in the municipality, or if there is no newspaper so published, then in a newspaper which has a bona fide general circulation within the municipality, with a notice to all persons concerned stating that the ordinance has been passed and that the municipality contemplates the issuance of the bonds described in the ordinance and that any person interested may appear before the legislative body, upon a certain date which shall be not less than ten (10) days subsequent to the publication of the ordinance and notice, and present protests.  (b) At the hearings all objections and suggestions shall be heard and the legislative body shall take such action as it shall deem proper in the premises.
AR Code § 14-234-507 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 5 - Joint Systems|§ 14-234-507. Location of system — Sale of water — Ownership of distribution system

 (a) Municipalities are authorized to construct waterworks systems or any integral part thereof either inside or outside the limits of the municipalities and inside and outside the limits of the county in which the municipalities are located.  (b)  (1) A municipality purchasing or constructing a waterworks system or integral part thereof may sell the water to private consumers located inside and outside of the municipality.  (2) It may sell a part of the water to an improvement district, or it may sell the water or a part thereof to a private corporation engaged in the business of selling water to private consumers in the municipality.    (c) Nothing in this section shall authorize any city or improvement district to sell its existing plant to a private corporation.  (d) Each municipality shall own its own distribution system, and the several municipalities together may own jointly, on whatever terms they may agree upon, whatever of the waterworks systems that serves the several municipalities jointly.
AR Code § 14-234-508 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 5 - Joint Systems|§ 14-234-508. Bond issue — Sufficiency — Negotiability — Sale — Fiscal agent

 (a) Bonds provided for in this subchapter shall be issued in whatever amounts may be necessary to provide sufficient funds to pay the total costs of acquisition or construction of the several waterworks systems to be provided for the several municipalities joining in the undertaking. The total costs shall include engineering, legal, and other expenses, together with interest to a date six (6) months subsequent to the estimated date of completion of all of the waterworks systems.  (b) Bonds issued under the provisions of this subchapter are declared to be negotiable instruments.  (c) Bonds shall be executed as provided in this subchapter and be sealed with the corporate seals of the municipalities. In the event any of the officers whose signatures appear on the bonds or coupons shall cease to be officers before delivery of the bonds, the signatures shall nevertheless be valid and sufficient for all purposes the same as if they had remained in office until delivery.  (d) Bonds authorized under the provisions of this subchapter may be sold at not less than ninety cents (90¢) on the dollar and the proceeds derived therefrom shall be used exclusively for the purposes for which the bonds are issued. The bonds may be sold at one time or in parcels as funds are needed and may be sold at private sale or at public sale upon whatever notice and in whatever manner the municipalities may determine in their respective ordinances.  (e) In the issuance and sale of the bonds, the municipalities may employ a fiscal agent and shall pay for its services reasonable compensation, except that no fiscal agent may purchase, directly or indirectly, any bonds of the municipalities while it serves them in the capacity of fiscal agent.
AR Code § 14-234-509 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 5 - Joint Systems|§ 14-234-509. Bonds — Nature of indebtedness

 (a) Bonds issued under the provisions of this subchapter shall be payable solely from the total revenues derived from the waterworks systems of all of the municipalities joining in the undertaking.  (b) The bonds shall not in any event constitute an indebtedness of the municipalities within the meaning of the constitutional provisions or limitations.  (c) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this subchapter, that it does not constitute an indebtedness of the municipalities within any constitutional or statutory limitation, and that it is the joint and several obligation of all the municipalities executing the bond, payable solely from the total net revenues of the waterworks systems of the municipalities.
AR Code § 14-234-510 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 5 - Joint Systems|§ 14-234-510. Obligation payable from revenue bonds only — Security in condemnation proceedings

 (a) No obligation shall, or may, be incurred by the several municipalities in the acquisition or construction of the waterworks systems contemplated under the provisions of this subchapter or in the condemnation of property in connection therewith, except those as shall be payable solely from the funds to be acquired from the sale of revenue bonds of the character authorized by this subchapter.  (b) In view of this provision, the court, in condemnation proceedings instituted under this subchapter by the several municipalities, may make requirements of security as will serve to protect the landowners.
AR Code § 14-234-511 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 5 - Joint Systems|§ 14-234-511. Allocation of bond proceeds

 (a) Any specified portion of the proceeds of an issue of bonds authorized under the provisions of this subchapter may be allocated by the respective legislative bodies to any particular project, or to new construction, as distinguished from the purchase of waterworks already constructed.  (b)  (1) After the allocation, the designated portion of the proceeds of the bond issue shall be kept separate and apart from the remaining proceeds and shall be held by the respective municipalities in trust for the performance of the purposes specified and none other.  (2) The diversion of funds to any other purpose may be enjoined on the suit of the trustee under the indenture, if any, accompanying the bonds, or on the suit of any of the bondholders, or on the suit of any person whose property, under the respective ordinances, is to be served by the proposed waterworks system.    (c) In making the allocation, the legislative bodies will be controlled by the engineer's estimate of costs referred to in the initial ordinances.  (d)  (1) In the event of the allocation of proceeds, the bonds themselves may be similarly or correspondingly segregated and allocated to the respective purposes of the issue.  (2) Bonds segregated and allocated to one (1) purpose shall, from the standpoint of legality and in all other respects, be deemed to have been issued to finance that purpose and that alone.  (3) Notwithstanding the allocation and segregation, all bonds of the entire issue will, unless the initial ordinances or the indenture accompanying the bonds shall provide to the contrary, be secured ratably and equally by the revenues of the entire and aggregate waterworks systems financed by the bond issue.  (4) Unless the ordinances or indenture shall so specifically provide, the allocation of bond proceeds or segregation of bonds will never have the effect of allocating the revenues from any particular portion of the authorized works exclusively to any particular bond or bonds.
AR Code § 14-234-512 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 5 - Joint Systems|§ 14-234-512. Bonds — Tax exemption

 Bonds issued under the provisions of this subchapter shall be exempt from all state, county, and municipal taxes, including income and inheritance taxes.
AR Code § 14-234-513 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 5 - Joint Systems|§ 14-234-513. Fixed rate reduction prohibited — Exception — Surpluses

 (a) Rates for water fixed precedent to the issuance of the bonds shall not be reduced until all of the bonds shall have been fully paid and shall, whenever necessary, be increased in an amount sufficient to provide for the payment of the bonds, both principal and interest, and to provide proper funds for the depreciation account and operation and maintenance charges. However, the rates may be reduced subject to any conditions which may be set out in the ordinances authorizing the issuance of the bonds or in the trust indenture authorized under the provisions of this subchapter.  (b)  (1) If any surplus shall be accumulated in the operating and maintenance fund of any one (1) of the several municipalities which shall be in excess of the costs of maintaining and operating the waterworks system of that municipality during the remainder of the current fiscal year and the costs of maintaining and operating the waterworks system of that municipality during the next fiscal year, then any excess may be transferred to either the depreciation account of the waterworks system of that municipality, or to the bond and interest redemption account, as the several legislative bodies may designate in their respective ordinances.  (2) If any surplus shall be accumulated in the depreciation account of any waterworks system of any one (1) of the several municipalities over and above that which may be necessary for the proper replacements which may be needed during the fiscal year and the next fiscal year, that excess may be transferred to the bond and interest redemption account.  (3) If a surplus shall exist in the bond and interest redemption account, the same may be applied by the legislative bodies in their discretion subject to any limitations in the ordinances authorizing the issuance of the bonds or in the trust indenture:  (A) To the payment of any outstanding unmatured bonds payable from the bond and interest redemption account that may be subject to call for redemption before maturity; or  (B) To any other municipal purpose.
AR Code § 14-234-514 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 5 - Joint Systems|§ 14-234-514. Deposit of funds

 (a) Municipalities joining together to issue revenue bonds under the provisions of this subchapter shall designate a bank, which shall be a member of the Federal Deposit Insurance Corporation, to act as a common depository for all of the municipalities to receive and hold on deposit and for disbursement all of the revenues derived from the waterworks systems of the several municipalities.  (b) The depository shall install and maintain a proper system of accounts, showing the amount of revenues received from each municipality and the application thereof.  (c) The accounts shall be subject to audit at least once a year by a competent auditor and the report of the auditor shall be open to inspection at all times to any of the several municipalities, any taxpayer, any water user, or any holder of bonds issued under the provisions of this subchapter, or anyone acting for and on behalf of the municipalities, taxpayer, water user, or bondholder.  (d) All of the funds received as income from the waterworks systems acquired or constructed in whole or in part under the provisions of this subchapter and all funds received from the sale of revenue bonds issued to acquire or construct the waterworks system shall be kept separate and apart from the other funds of the municipalities.  (e) No one (1) account shall be maintained for all of the municipalities in which shall be placed the interest and sinking fund moneys; separate accounts shall be maintained for each municipality in which shall be placed the depreciation funds and funds to provide for the operation and maintenance of the respective waterworks systems.
AR Code § 14-234-515 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 5 - Joint Systems|§ 14-234-515. Statutory mortgage lien — Default

 (a)  (1) There shall be created a statutory mortgage lien upon the several waterworks systems acquired or constructed from the proceeds of bonds authorized to be issued.  (2) The lien shall exist in favor of the holder of the bonds, and each of them, and to and in favor of the holder of the coupons attached to the bonds.  (3) The waterworks systems shall remain subject to statutory mortgage lien until payment in full of the principal of and interest on the bonds.    (b) Subject to whatever restrictions may be contained in the indenture authorized in this subchapter, any holder of bonds issued under the provisions of this subchapter or any coupons representing interest accrued thereon, may, either at law or in equity, enforce the statutory mortgage lien hereby conferred and may, by proper suit, compel the performance of the duties of the officials of the issuing municipalities set forth in this subchapter.  (c) If there is default in the payment of the principal of or interest upon any of the bonds, any court having jurisdiction in any proper action may appoint a receiver to administer the waterworks systems on behalf of the municipalities with power to charge and collect rates sufficient to provide for the payment of the principal of and interest on the bonds and for the payment of the operating expenses and to apply the income and revenues in conformity with this subchapter and the ordinances providing for the issuance of the bonds.
AR Code § 14-234-516 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 5 - Joint Systems|§ 14-234-516. Eminent domain

 For the purpose of acquiring any waterworks system under the provisions of this subchapter, or for the purpose of acquiring any properties necessary therefor, each of the municipalities joining together under the provisions of this subchapter shall have the right of eminent domain, as is provided in §§ 18-15-301—18-15-303.