reglab/housing_qa huggingface dataset:
AR Code § 14-203-107 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 12 - Public Utilities Generally|Chapter 203 - Municipal Electric System Financing|§ 14-203-107. Bonds — Trust indenture

 (a) The ordinance may provide for the execution of a trust indenture by the municipality with a bank or trust company within or without the state.  (b) The trust indenture may control the priority between successive issues and may contain any other terms, covenants, and conditions that are deemed desirable by the governing body including, without limitation, those pertaining to the custody and application of the proceeds of the bonds, the collection and disposition of revenues, the maintenance of various funds and reserves, the investing and reinvesting of any moneys during periods not needed for authorized purposes, the nature and extent of the security, the rights, duties, and obligations of the municipality and the trustee for the holders or registered owners of the bonds, and the rights of the holders or registered owners of the bonds.  (c) It shall not be necessary for the municipality to publish any trust indenture, or any security agreement or other instrument, if the ordinance authorizing the trust indenture or security agreement or other instrument is published as required by the law governing the publication of ordinances of a municipality. The ordinance advises that a copy of the trust indenture or security agreement or other instrument, as the case may be, is on file in the office of the clerk of the municipality for inspection by an interested person, and the copy of the trust indenture or security agreement or other instrument, as the case may be, is filed with the clerk of the municipality.
AR Code § 14-203-108 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 12 - Public Utilities Generally|Chapter 203 - Municipal Electric System Financing|§ 14-203-108. Bonds — Sale

 The bonds may be sold at public or private sale, for whatever price, including, without limitation, sale at a discount, and in whatever manner that the municipality may determine by ordinance.
AR Code § 14-203-109 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 12 - Public Utilities Generally|Chapter 203 - Municipal Electric System Financing|§ 14-203-109. Bonds, coupons — Execution — Seal

 (a)  (1)  (A) Bonds issued under this chapter shall be executed by the manual or facsimile signatures of the mayor and clerk of the municipality.  (B) The coupons attached to the bonds may be executed by the facsimile signature of the mayor of the municipality.    (2) In case any of the officers whose signatures appear on the bonds or coupons shall cease to be officers before the delivery of the bonds or coupons, their signatures shall, nevertheless, be valid and sufficient for all purposes.    (b) The seal of the municipality shall be placed or printed on each bond in such manner as the governing body of the municipality shall determine.
AR Code § 14-203-110 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 12 - Public Utilities Generally|Chapter 203 - Municipal Electric System Financing|§ 14-203-110. Bonds — Priority among issues

 Priority between successive issues may be controlled by the ordinance.
AR Code § 14-203-111 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 12 - Public Utilities Generally|Chapter 203 - Municipal Electric System Financing|§ 14-203-111. Bonds — Nature of indebtedness — Surplus revenues

 (a) The bonds and coupons issued under this chapter shall not be general obligations of the municipality, but shall be special obligations payable from and secured by a pledge of revenues derived from the municipality's electric system and otherwise secured as provided in this chapter. In no event shall the bonds and coupons constitute an indebtedness of the municipality within the meaning of any constitutional or statutory limitation.  (b) It shall be plainly stated on the face of each bond that the bond has been issued under the provisions of this chapter and that it does not constitute an indebtedness of the municipality within any constitutional or statutory limitation.  (c)  (1) In addition, the municipality is authorized to pledge to and use for the payment of the principal of and interest on the bonds, together with other expenses in connection with the bonds, surplus revenues derived from water, sewer, and gas utilities owned by the municipality.  (2) “Surplus revenues”, as used in this subsection, is defined to mean revenues remaining after adequate provision shall have been made for expenses of operation, maintenance, and depreciation and all requirements of ordinances, orders, and indentures securing bonds theretofore or thereafter issued to finance the cost of acquiring, constructing, reconstructing, extending, or improving the utilities have been fully met and complied with.
AR Code § 14-203-112 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 12 - Public Utilities Generally|Chapter 203 - Municipal Electric System Financing|§ 14-203-112. Refunding bonds

 (a)  (1) Bonds may be issued for the purpose of refunding any bonds issued under this chapter. Any bonds issued under other applicable legislation payable from and secured by, in whole or in part, a pledge of revenues derived from the municipality's electric system.  (2) The refunding bonds may be combined with bonds issued under the provisions of §§ 14-203-104, 14-203-110, 14-203-113, and 14-203-114 into a single issue.    (b) When refunding bonds are issued, such bonds may either be sold or delivered in exchange for the bonds being refunded. If sold, the proceeds may be either applied to the payment of the bonds being refunded or deposited in escrow for the retirement thereof.  (c) All refunding bonds shall in all respects be issued and secured in the manner provided for other bonds issued under this chapter and shall have all the attributes of such bonds.  (d) The ordinance or trust indenture under which such refunding bonds are issued may provide that any of the refunding bonds shall have the same priority of lien on and security interest in electric system revenues and the electric system as was enjoyed by the bonds refunded thereby.
AR Code § 14-203-113 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 12 - Public Utilities Generally|Chapter 203 - Municipal Electric System Financing|§ 14-203-113. Bonds — Mortgage lien

 (a) The ordinance or trust indenture authorizing or securing any bonds issued under this chapter may impose a foreclosable mortgage lien upon all or any part of the electric system of the municipality.  (b) The nature and extent of the mortgage lien may be controlled by the ordinance or trust indenture including, without limitation, provisions pertaining to the release of all or part of the electric system from the mortgage lien and the priority of the mortgage lien in the event of the issuance of additional bonds.  (c) Subject to such terms, conditions, and restrictions as may be contained in the ordinance or trust indenture, any holder or registered owner of bonds issued under this chapter, or of any coupon attached thereto, may, either at law or in equity, enforce the mortgage lien and may, by proper suit, compel the performance of the duties of the officials of the municipality set forth in the ordinance or trust indenture authorizing or securing the bonds.
AR Code § 14-203-114 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 12 - Public Utilities Generally|Chapter 203 - Municipal Electric System Financing|§ 14-203-114. Bonds — Default — Receiver

 (a) In the event of a default in the payment of the principal of, premium, if any, or interest on any bonds issued under this chapter, any court having jurisdiction may appoint a receiver to take charge of all or any part of the electric system of the municipality.  (b) The receiver shall have the power to operate and maintain the electric system and to charge and collect rates, fees, and charges sufficient to provide for the payment of the principal of, premium, if any, and interest on the bonds, after providing for the payment of any costs of receivership and operating expenses of the electric system, and to apply the revenues derived from the electric system in conformity with this chapter and the ordinance or trust indenture authorizing or securing the bonds.  (c) When the default has been cured, the receivership shall be ended and the electric system shall be returned to the municipality.  (d) The relief afforded by this section shall be construed to be in addition and supplemental to the remedies that may be afforded the trustee for the bondholders and the bondholders in the ordinance or trust indenture authorizing or securing the bonds and shall be so granted and administered as to accord full recognition to priority rights of bondholders as the pledge of revenues from, and the mortgage lien on, the electric system as specified in and fixed by the ordinances or trust indentures authorizing or securing successive bond issues.
AR Code § 14-203-115 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 12 - Public Utilities Generally|Chapter 203 - Municipal Electric System Financing|§ 14-203-115. Rates, fees, and charges — Disposition — Pledges

 (a) For so long as any bonds are outstanding and unpaid, the rates, fees, and charges for electric power and energy charged and collected by a municipality shall be so fixed as to provide revenues sufficient to pay all costs of and charges and expenses in connection with the proper operation and maintenance of its electric system, and all necessary repairs, replacements, or renewals thereof, to pay when due the principal of, premium, if any, and interest on all bonds, including bonds subsequently issued for additions, improvements, and betterments to its electric system, payable from such revenues, to create and maintain reserves as may be required by any ordinance or trust indenture authorizing or securing bonds, and to pay any and all amounts which the municipality may be obligated to pay from electric system revenues by law or contract.  (b) For so long as any contract for the purchase of electric power and energy is in effect, the rates, fees, and charges for electric power and energy charged and collected by a municipality may be fixed to provide sufficient revenues to secure payments of amounts due under the contract and to comply with the terms of the contract. Any contract shall be approved by ordinance of the governing body of the purchasing municipality, and the ordinance shall be published one (1) time in a newspaper of general circulation in the municipality. Any contest of the ordinance shall be barred at the end of thirty (30) days after the ordinance is published.  (c) Any pledge made by a municipality pursuant to this chapter shall be valid and binding from the date the pledge is made. The revenues so pledged and then held or thereafter received by the municipality or any fiduciary on its behalf shall immediately be subject to the lien of the pledge without any physical delivery thereof or further act, and the lien of the pledge shall be valid and binding as against all parties having claims of any kind in tort, contract, or otherwise against the municipality without regard to whether the parties have notice thereof.  (d) The ordinance, trust indenture, or other instrument by which a pledge is created need not be filed or recorded in any manner.
AR Code § 14-203-116 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 12 - Public Utilities Generally|Chapter 203 - Municipal Electric System Financing|§ 14-203-116. Rights of holder or owner of bonds

 Any holder or registered owner of bonds or coupons appertaining thereto, except to the extent the rights given in this chapter may be restricted by the ordinance or trust indenture authorizing or securing such bonds and coupons, may, either at law or in equity, by suit, action, mandamus, or other proceeding, protect and enforce any and all rights under the laws of the state or granted hereunder, or, to the extent permitted by law, under such ordinance or trust indenture authorizing or securing such bonds or under any agreement or other contract executed by the municipality pursuant to this chapter, and may enforce and compel the performance of all duties required by this chapter or by such ordinance or trust indenture to be performed by any municipality or by any officer thereof, including the fixing, charging, and collecting of rates, fees, and charges.
AR Code § 14-203-117 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 12 - Public Utilities Generally|Chapter 203 - Municipal Electric System Financing|§ 14-203-117. Bonds — Tax exemption

 Bonds issued under the provisions of this chapter, and the interest thereon, shall be exempt from all state, county, and municipal taxes, including property, income, inheritance, and estate taxes.
AR Code § 14-203-118 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 12 - Public Utilities Generally|Chapter 203 - Municipal Electric System Financing|§ 14-203-118. Investment of public funds in bonds

 Any municipality, or any board, commission, or other authority duly established by ordinance of any municipality, or the boards of trustees, respectively, of the firemen's relief and pension fund and the policemen's pension and relief fund of any municipality, or the board of trustees of any retirement system created by the General Assembly may, in its discretion, invest any of its funds in bonds issued under the provisions of this chapter. Bonds issued under the provisions of this chapter shall be eligible to secure the deposit of public funds.
AR Code § 14-204-101 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 12 - Public Utilities Generally|Chapter 204 - Municipal And County Hydroelectric Power Development|§ 14-204-101. Title

 This chapter may be referred to and may be cited as the “Municipalities and Counties Hydroelectric Power Development Revenue Bond Law.”
AR Code § 14-204-103 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 12 - Public Utilities Generally|Chapter 204 - Municipal And County Hydroelectric Power Development|§ 14-204-103. Construction

 (a) This chapter shall be liberally construed to accomplish the purposes hereof and shall be the sole act and authority necessary to be complied with.  (b) This chapter and the authority conferred by it shall be supplemental to all other authority set forth in any other act.
AR Code § 14-204-104 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 12 - Public Utilities Generally|Chapter 204 - Municipal And County Hydroelectric Power Development|§ 14-204-104. Authorization to own and operate hydroelectric power project — Contracts to supply energy

 (a) Any municipality and any county is authorized to own, acquire, construct, reconstruct, extend, equip, improve, operate, maintain, sell, lease, contract concerning, or otherwise deal in or dispose of, or make loans to finance the acquisition, construction, reconstruction, extension, equipment, improvement of, facilities to constitute all or any part of a hydroelectric power project, as defined in § 14-204-102.  (b) Without limiting the generality of the foregoing, any municipality or county is authorized to contract with any regulated public utility for the supplying of electrical energy produced by any such project, upon terms acceptable to such municipality or county.
AR Code § 14-204-105 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 12 - Public Utilities Generally|Chapter 204 - Municipal And County Hydroelectric Power Development|§ 14-204-105. Authorization to issue bonds

 (a) Municipalities and counties are authorized to use any available revenues for the accomplishment of the purposes set forth in § 14-204-104 and are authorized to issue revenue bonds and to use the proceeds thereof for the accomplishment of the purposes set forth in § 14-204-104, either alone or together with other available funds and revenues.  (b) The amount of bonds issued shall be sufficient to pay all costs of accomplishing such purposes, all costs of issuing the bonds, the amount necessary for a reserve, if desirable, the amount necessary to provide for debt service on the bonds until revenues for the payment thereof are available, and any other costs of whatever nature incidental to the accomplishment of such purposes.
AR Code § 14-204-107 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 12 - Public Utilities Generally|Chapter 204 - Municipal And County Hydroelectric Power Development|§ 14-204-107. Nature of bond indebtedness — Payment from revenue of project — Use of excess revenue

 (a)  (1) Revenue bonds shall not be general obligations of the municipality or county but shall be special obligations, and in no event shall the revenue bonds constitute an indebtedness of the municipality or county within the meaning of any constitutional or statutory limitation.  (2) It shall be plainly stated on the face of each bond that the bond has been issued under the provisions of this chapter and that it does not constitute an indebtedness of the municipality or county within any constitutional or statutory limitation.    (b) The principal of and interest on the revenue bonds, with trustee's and paying agent's fees and similar servicing charges, shall be payable from revenues derived from the hydroelectric project or projects acquired, constructed, reconstructed, extended, or improved, in whole or in part, with the proceeds of the bonds.  (c) Revenues derived from the operation of hydroelectric power projects in excess of the revenues necessary to provide for the operation, maintenance, depreciation, and debt service requirements in connection with such hydroelectric power projects, as determined by the municipality or county, may be used for any lawful municipal or county purpose and may be pledged by the municipality or county issuing revenue bonds under this chapter to the payment of principal and interest on indebtedness incurred by the municipality or county, or by a nonprofit corporation with the approval of the municipality or county, for financing the acquisition, construction, reconstruction, extension, equipment, or improvement of waterworks facilities, of sanitation and solid waste facilities, of facilities for the securing or developing of tourism, or of community recreational facilities.
AR Code § 14-204-108 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 12 - Public Utilities Generally|Chapter 204 - Municipal And County Hydroelectric Power Development|§ 14-204-108. Refunding bonds

 (a) Revenue bonds may be issued under this chapter for the purpose of refunding any obligations issued under this chapter. Such refunding bonds may be combined with bonds issued under the provisions of § 14-204-105 into a single issue.  (b) When bonds are issued under this section for refunding purposes, such bonds may either be sold or delivered in exchange for the outstanding obligations. If sold, the proceeds may be either applied to the payment of the obligations refunded or deposited in escrow for the retirement thereof.  (c) The ordinance or order under which such refunding bonds are issued may provide that any of the refunding bonds shall have the same priority of lien on the revenues pledged for their payment as was enjoyed by the obligations refunded thereby.  (d) Such refunding bonds shall be issued and secured in the manner provided for other bonds issued under this chapter and shall have all the attributes of such bonds.
AR Code § 14-204-109 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 12 - Public Utilities Generally|Chapter 204 - Municipal And County Hydroelectric Power Development|§ 14-204-109. Mortgage lien — Default — Receiver

 (a) The ordinance, order, or indenture referred to § 14-204-106 may, but need not, impose a foreclosable mortgage lien upon the facilities acquired, constructed, reconstructed, extended, equipped, or improved, in whole or in part, with the proceeds of bonds issued under this chapter, and the nature and extent of such mortgage lien may be controlled by the ordinance, order, or indenture including, without limitation, provisions pertaining to the release of all or part of the facilities from the mortgage lien and the priority of the mortgage lien in the event of successive bond issues as authorized by § 14-204-106.  (b) The ordinance, order, or indenture authorizing or securing the bonds may authorize any holder or registered owner of bonds issued under this chapter, or a trustee on behalf of all holders and registered owners, either at law or in equity, to enforce the mortgage lien and, by proper suit, to compel the performance of the duties of the officials of the issuing municipality or county set forth in this chapter and set forth in the ordinance, order, or indenture authorizing or securing the bonds.  (c) Subject to the provisions of the ordinance, order, or indenture referred to in § 14-204-106, in the event of a default in the payment of the principal of or interest on any revenue bonds issued under this chapter any court having jurisdiction may appoint a receiver to take charge of the facilities acquired, constructed, reconstructed, extended, equipped, or improved, in whole or in part, with the proceeds of such bonds. The receiver shall have the power to operate and maintain the facilities and to charge and collect rates and rents sufficient to provide for the payment of the principal of and interest on the bonds, after providing for the payment of any cost of receivership and operating expenses of the facilities, and to apply the income and revenues derived from the facilities in conformity with this chapter and the ordinance or indenture authorizing or securing the bonds. When the default has been cured, the receivership shall be ended and the properties returned to the municipality or county.  (d) The relief afforded by this section shall be construed to be in addition and supplemental to the remedies that may be afforded the trustee for the bondholders and the bondholders in the ordinance, order, or indenture authorizing or securing the bonds and shall be so granted and administered as to accord full recognition to priority rights of bondholders as to the pledge of revenues from, and mortgage lien on, the facilities, as specified in and fixed by the ordinances, orders, or indentures authorizing or securing successive bond issues.
AR Code § 14-204-110 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 12 - Public Utilities Generally|Chapter 204 - Municipal And County Hydroelectric Power Development|§ 14-204-110. Application for licenses, permits, certificates, and approvals

 (a) Municipalities and counties proceeding under this chapter are authorized to apply to the appropriate agencies of the state, the United States or any state thereof, and to any other proper agency for such licenses, permits, certificates, or approvals as may be necessary, and to obtain, hold, and use such licenses, permits, certificates, and approvals.  (b) Nothing in this chapter shall be construed to require a municipality or county to obtain any license, certificate, permit, or approval from the Arkansas Public Service Commission not otherwise required by other laws of this state.
AR Code § 14-204-111 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 12 - Public Utilities Generally|Chapter 204 - Municipal And County Hydroelectric Power Development|§ 14-204-111. Bonds — Tax exemption

 Bonds issued under the provisions of this chapter shall be exempt from all state, county, and municipal taxes. This exemption includes income, property, and inheritance taxes.
AR Code § 14-204-112 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 12 - Public Utilities Generally|Chapter 204 - Municipal And County Hydroelectric Power Development|§ 14-204-112. Investment of public funds in bonds

 Any public funds may be invested in revenue bonds issued under the provisions of this chapter. Revenue bonds issued under this chapter shall be eligible to secure the deposit of public funds.