reglab/housing_qa huggingface dataset:
AR Code § 14-164-604 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 10 - Economic Development And Tourism Generally|Chapter 164 - Industrial Development Bonds|Subchapter 6 - Compacts by Counties for Railroad Operations|§ 14-164-604. Board of directors

 (a) A compact entered into pursuant to the authority granted in this subchapter may provide for the establishment of a compact board of directors, to be composed of such members as may be prescribed in the compact.  (b) The board shall have such authority with respect to the issuance of bonds and the payment of principal and interest on the bonds, together with any other expenses of issuing and selling the bonds, and, with respect to the supervision and administration of the lease or acquisition and the repair, maintenance, and operation or leasing out for operation of the railroad, as may be agreed upon by the participating counties.
AR Code § 14-164-605 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 10 - Economic Development And Tourism Generally|Chapter 164 - Industrial Development Bonds|Subchapter 6 - Compacts by Counties for Railroad Operations|§ 14-164-605. Issuance of bonds

 All bonds issued pursuant to a compact entered into under the provisions of this subchapter, whether issued under the authority of Arkansas Constitution, Amendment 49 [repealed] or the authority granted in §§ 14-164-201 — 14-164-206 and 14-164-208 — 14-164-224, shall be subject to all the conditions, restrictions, limitations, and other provisions relating to bonds issued for other purposes under the provisions of Arkansas Constitution, Amendment 49, and §§ 14-164-201 — 14-164-206 and 14-164-208 — 14-164-224.
AR Code § 14-164-606 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 10 - Economic Development And Tourism Generally|Chapter 164 - Industrial Development Bonds|Subchapter 6 - Compacts by Counties for Railroad Operations|§ 14-164-606. Limitations on rail service

 (a) Any rail service provided pursuant to this subchapter shall be limited to short line intrastate rail service only, and any such rail service is expressly prohibited from connecting with the rail service provided by any other compact formed under this subchapter.  (b) The rail service provided for in this subchapter may connect only with an existing railroad line presently operating in the State of Arkansas.  (c) This subchapter shall not be construed to prevent the extension of rail service to future industrial sites located within the geographical boundaries of counties which have a compact pursuant to this subchapter.
AR Code § 14-164-701 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 10 - Economic Development And Tourism Generally|Chapter 164 - Industrial Development Bonds|Subchapter 7 - Exemptions from Ad Valorem Taxation|§ 14-164-701. Legislative intent

 (a) It is declared and confirmed that the securing and developing of industry is vital to the economic welfare of the state and its people. To this end, it is necessary that maximum flexibility be given to the Arkansas Development Finance Authority and to the counties and municipalities in the state in their efforts to retain and expand existing industrial facilities and locate new industrial facilities. This task involves the opportunity for the full utilization of the benefits of financing industrial facilities under Arkansas Constitution, Amendment 49 [repealed], and §§ 14-164-201 — 14-164-206, 14-164-208 — 14-164-224, § 14-267-101 et seq., §§ 15-5-101 — 15-5-105, 15-5-207, § 15-5-301 et seq., and the Arkansas Development Finance Authority Bond Guaranty Act of 1985, § 15-5-401 et seq., including the exemption from ad valorem taxation of all industrial facilities that were exempt under Arkansas Constitution, Article 16, § 5, as interpreted by the Supreme Court of Arkansas in Wayland v. Snapp, 232 Ark. 57, 334 S.W.2d 633 (1960).  (b) While concerns using industrial bond financing should be encouraged to make payments in lieu of ad valorem taxes, and that is declared to be the general policy of the General Assembly, the final determination of whether these payments are to be made and, if made, in what amounts should be negotiated and contracted by the counties or municipalities in the state and by the industrial concerns involved under § 14-164-704.
AR Code § 14-164-702 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 10 - Economic Development And Tourism Generally|Chapter 164 - Industrial Development Bonds|Subchapter 7 - Exemptions from Ad Valorem Taxation|§ 14-164-702. Applicability

 (a) Pursuant to the findings and declarations of the state in § 14-164-701, it is found and declared that not only are the industrial facilities owned by a municipality, county, or the Arkansas Development Finance Authority financed with bonds issued under §§ 14-164-201 — 14-164-206, 14-164-208 — 14-164-224, § 14-267-101 et seq., §§ 15-5-101 — 15-5-105, 15-5-207, § 15-5-301 et seq., and the Arkansas Development Finance Authority Bond Guaranty Act of 1985, § 15-5-401 et seq., to be exempt from ad valorem taxation, but the interest of a lessee or of a purchaser under a contract for sale of industrial facilities that are so exempt are also exempt from ad valorem taxation. To this end, the interest of a lessee or of a purchaser is intangible personal property for purposes of ad valorem taxation. This finding and declaration is made under the authority granted to the General Assembly by and in implementation of the provisions and purposes of Arkansas Constitution, Amendment 57.  (b) The findings and declarations made in § 14-164-701 and the policy declared in this section apply to all existing industrial facilities and to all future industrial facilities involved in Arkansas Constitution, Amendment 49 [repealed], §§ 14-164-201 — 14-164-206, 14-164-208 — 14-164-224, § 14-267-101 et seq., §§ 15-5-101 — 15-5-105, 15-5-207, § 15-5-301 et seq., and the Arkansas Development Finance Authority Bond Guaranty Act of 1985, § 15-5-401 et seq. financings, and to all existing and future interests in leases or purchase contracts pertaining to these industrial facilities.
AR Code § 14-164-703 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 10 - Economic Development And Tourism Generally|Chapter 164 - Industrial Development Bonds|Subchapter 7 - Exemptions from Ad Valorem Taxation|§ 14-164-703. Payments in lieu of taxes

 (a) If the Arkansas Development Finance Authority or a county or municipality in the state and a lessee under a lease or a purchaser under a contract for sale enter into an agreement for payments in lieu of ad valorem taxes, each agreement shall provide, or under this subchapter shall be interpreted as providing, that all in-lieu-of-taxes payments shall be distributed to the local political subdivisions that would have received ad valorem tax payments on the industrial facilities if the interest involved had not been exempt from ad valorem taxes in the proportions that the millage levied by each affected local political subdivision bears to the millage levied by all affected political subdivisions, unless all such local political subdivisions, including without limitation the affected school district or districts, shall otherwise agree.  (b) This section does not affect the rights or obligations of any of the parties to an agreement under this subchapter that exists on the date of enactment of this subchapter providing for payments in lieu of ad valorem taxes.
AR Code § 14-164-801 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 10 - Economic Development And Tourism Generally|Chapter 164 - Industrial Development Bonds|Subchapter 8 - Local Government Energy Efficiency Project Bond Act|§ 14-164-801. Title

 This subchapter shall be known and may be cited as the “Local Government Energy Efficiency Project Bond Act”.
AR Code § 14-164-802 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 10 - Economic Development And Tourism Generally|Chapter 164 - Industrial Development Bonds|Subchapter 8 - Local Government Energy Efficiency Project Bond Act|§ 14-164-802. Purpose — Legislative findings

 (a) The purpose of this subchapter is to provide financing for energy efficiency projects for municipalities and counties under Arkansas Constitution, Amendment 89.  (b) The General Assembly finds that:  (1) This subchapter is in furtherance of a public purpose; and  (2) The duties imposed upon and authority granted to municipalities and counties in this subchapter are in furtherance of the conservation of the environment, efficient government spending, and the protection of the public health, welfare, and safety.
AR Code § 14-164-803 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 10 - Economic Development And Tourism Generally|Chapter 164 - Industrial Development Bonds|Subchapter 8 - Local Government Energy Efficiency Project Bond Act|§ 14-164-803. Definitions

 As used in this subchapter:   (1) “Bonds” means bonds, notes, certificates, financing leases, or other interest-bearing instruments or evidences of indebtedness that are issued under this subchapter;  (2) “Chief executive officer” means the chief executive officer of a municipality or the county judge of a county;  (3) “County” means a county in the State of Arkansas;  (4) “Energy efficiency project” means:  (A) A new facility that is designed to reduce the consumption of energy or natural resources or result in operating cost savings as a result of changes that:  (i) Do not degrade the level of service or working conditions;  (ii) Are measurable and verifiable under the International Performance Measurement and Verification Protocol, promulgated by the Arkansas Pollution Control and Ecology Commission in the rules required under § 19-11-1207; and  (iii) Are measured and verified by an audit performed by an independent engineer or by a qualified provider, including the vendor providing the energy efficiency project; or    (B) An existing facility alteration that is designed to reduce the consumption of energy or natural resources or result in operating cost savings as a result of changes that conform with subdivisions (4)(A)(i) and (ii) of this section;    (5) “Guaranteed energy cost savings contract” means a contract for the implementation of one (1) or more energy efficiency projects and services provided by a qualified provider in which the energy and cost savings achieved by the installed energy efficiency project cover all energy efficiency project costs, including financing, over a specified contract term;  (6) “Issuer” means a municipality or a county;  (7) “Legislative body” means the quorum court of a county or the council, board of directors, board of commissioners, or similar elected governing body of a city or town;  (8) “Municipality” means a city or incorporated town in the State of Arkansas;  (9) “Operating cost savings” means expenses eliminated and future replacement expenditures avoided as a result of new equipment installed or services performed;  (10) “Ordinance” means an ordinance, resolution, or other appropriate legislative enactment of a legislative body; and  (11) “Qualified provider” means the same as defined in § 19-11-1202.
AR Code § 14-164-804 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 10 - Economic Development And Tourism Generally|Chapter 164 - Industrial Development Bonds|Subchapter 8 - Local Government Energy Efficiency Project Bond Act|§ 14-164-804. Energy efficiency projects authorized

 (a)  (1) A municipality or county may enter into a guaranteed energy cost savings contract in order to reduce energy consumption or operating costs of government facilities under this subchapter.  (2) A municipality or county may enter into an installment payment contract or lease purchase agreement with a qualified provider for the purchase and installation of an energy efficiency project in accordance with this subchapter.    (b) An energy efficiency project shall comply with current local, state, and federal construction and environmental codes, rules, and regulations.
AR Code § 14-164-805 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 10 - Economic Development And Tourism Generally|Chapter 164 - Industrial Development Bonds|Subchapter 8 - Local Government Energy Efficiency Project Bond Act|§ 14-164-805. Method of solicitation

 A solicitation of a guaranteed energy cost savings contract by a county or municipality shall be consistent with applicable procurement laws.
AR Code § 14-164-806 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 10 - Economic Development And Tourism Generally|Chapter 164 - Industrial Development Bonds|Subchapter 8 - Local Government Energy Efficiency Project Bond Act|§ 14-164-806. Evaluation of responses to solicitations

 (a) In a municipality's or county's evaluation of each qualified provider's response to a solicitation under § 14-164-805, the municipality or county shall include an analysis of:  (1) Whether the qualified provider meets the objectives of the solicitation, including without limitation a reduction in the municipality's or county's energy consumption or operating costs resulting from a guaranteed energy cost savings contract with the qualified provider;  (2) The qualifications and experience of the qualified provider;  (3) The technical approach to the energy efficiency project;  (4) The financial aspects of the energy efficiency project;  (5) The overall benefit to the municipality or county; and  (6) Any other relevant factors.    (b) After evaluating a response to a solicitation as required under subsection (a) of this section, a municipality or county may:  (1) Reject the response; or  (2) Award a contract to a qualified provider to conduct an energy audit to be used in developing the guaranteed energy cost savings contract.
AR Code § 14-164-807 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 10 - Economic Development And Tourism Generally|Chapter 164 - Industrial Development Bonds|Subchapter 8 - Local Government Energy Efficiency Project Bond Act|§ 14-164-807. Guaranteed energy cost savings contract requirements

 (a) The following provisions are required in a guaranteed energy cost savings contract:  (1) A statement that the municipality or county shall maintain and operate the energy efficiency project as defined in the guaranteed energy cost savings contract; and  (2) A guarantee by the qualified provider that:  (A) The energy cost savings and operating cost savings to be realized over the term of the guaranteed energy cost savings contract meet or exceed the costs of the energy efficiency project; and  (B) If the annual energy or operating cost savings fail to meet or exceed the annual costs of the energy efficiency project as required by the guaranteed energy cost savings contract, the qualified provider shall reimburse the municipality or county for any shortfall of guaranteed energy cost savings over the term of the guaranteed energy cost savings contract.      (b) The maximum term for a guaranteed energy cost savings contract is twenty (20) years after the implementation of the energy efficiency project.  (c) Before entering into a guaranteed energy cost savings contract, the municipality or county shall require the qualified provider to file with the municipality or county a payment and performance bond or similar assurance.
AR Code § 14-164-808 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 10 - Economic Development And Tourism Generally|Chapter 164 - Industrial Development Bonds|Subchapter 8 - Local Government Energy Efficiency Project Bond Act|§ 14-164-808. Bonds — Issuance generally

 (a)  (1) A municipality or county may issue bonds for an energy efficiency project within, near, or within and near the municipality or county.  (2) Bonds shall be issued pursuant to an ordinance adopted by the legislative body specifying:  (A) The principal amount of bonds to be issued;  (B) The purpose or purposes for which the bonds are to be issued; and  (C) Any other provisions deemed important with respect to the bonds.      (b) A legislative body shall not adopt an ordinance regarding the issuance of bonds unless the legislative body has determined that:  (1) All of the work on the energy efficiency project will be performed by a qualified provider; and  (2) The qualified provider has provided a guarantee of the operating cost savings to be realized from the energy efficiency project that:  (A) The energy cost savings and operating cost savings to be realized over the term of the guaranteed energy cost savings contract meet or exceed the costs of the energy efficiency project; and  (B) If the annual energy or operating cost savings fail to meet or exceed the annual costs of the energy efficiency project as required by the guaranteed energy cost savings contract, the qualified provider shall reimburse the issuer for any shortfall of guaranteed energy cost savings over the term of the guaranteed energy cost savings contract.      (c) The maximum term of the bonds may not exceed the shorter of:  (1) The useful life of the energy efficiency project; or  (2) Twenty (20) years.
AR Code § 14-164-809 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 10 - Economic Development And Tourism Generally|Chapter 164 - Industrial Development Bonds|Subchapter 8 - Local Government Energy Efficiency Project Bond Act|§ 14-164-809. Bonds — Terms and conditions

 (a) As provided by an ordinance or trust indenture authorized under this subchapter, bonds may:  (1) Be in registered or other form;  (2) Be in such denominations as determined by the legislative body;  (3) Be exchangeable for bonds of another denomination;  (4) Be made payable at places within or without the state;  (5) Be issued in one (1) or more series;  (6) Bear the date or dates determined by the legislative body of the issuer;  (7) Mature at the time or times determined by the legislative body of the issuer;  (8) Be payable in such medium of payment determined by the legislative body of the issuer;  (9) Be subject to the terms of redemption determined by the legislative body of the issuer; and  (10) Contain other terms, covenants, and conditions determined by the legislative body of the issuer, including without limitation terms, covenants, and conditions pertaining to:  (A) The custody and application of the proceeds of the bonds;  (B) The maintenance of various funds and reserves;  (C) The nature and extent of the pledge and security;  (D) The remedies on default; and  (E) The rights, duties, and obligations of the legislative body of the issuer and the trustee, if any, for the owners of the bonds, and the rights of the owners of the bonds.      (b) All bonds are negotiable instruments within the meaning of the negotiable instruments law of the state.
AR Code § 14-164-810 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 10 - Economic Development And Tourism Generally|Chapter 164 - Industrial Development Bonds|Subchapter 8 - Local Government Energy Efficiency Project Bond Act|§ 14-164-810. Bonds — Trust indenture

 (a) The ordinance authorizing bonds may provide for the execution by the chief executive officer of the issuer of a trust indenture that:  (1) Defines the rights of the owners of the bonds; and  (2) Provides for the appointment of a trustee for the owners of the bonds.    (b) A trust indenture executed under this section may:  (1) Provide for the priority between and among successive issues; and  (2) Contain one (1) or more of the provisions stated in § 14-164-809 and any other terms, covenants, and conditions that are deemed desirable.
AR Code § 14-164-811 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 10 - Economic Development And Tourism Generally|Chapter 164 - Industrial Development Bonds|Subchapter 8 - Local Government Energy Efficiency Project Bond Act|§ 14-164-811. Bonds — Sale

 (a) Bonds may be sold at a public or private sale for the price and in the manner determined by the legislative body of the issuer.  (b) Bonds sold under this subchapter may be sold at a discount or a premium.
AR Code § 14-164-812 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 10 - Economic Development And Tourism Generally|Chapter 164 - Industrial Development Bonds|Subchapter 8 - Local Government Energy Efficiency Project Bond Act|§ 14-164-812. Bonds — Execution

 Bonds shall be executed in the manner provided by the Registered Public Obligations Act of Arkansas, § 19-9-401 et seq.
AR Code § 14-164-813 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 10 - Economic Development And Tourism Generally|Chapter 164 - Industrial Development Bonds|Subchapter 8 - Local Government Energy Efficiency Project Bond Act|§ 14-164-813. Bonds — Payment — Security

 (a) The principal of and interest on the bonds may be secured by a pledge of the operating cost savings derived from the energy efficiency project, and a municipality or county may pledge or assign a guaranteed energy cost savings contract to secure the bonds.  (b) The total annual principal and interest payments in each fiscal year on bonds shall be charged against and paid from general revenues, special revenues, revenues derived from taxes, or any other revenues available to the municipality or county if the special revenues, revenues derived from taxes, or other revenues have not been previously restricted to another purpose.  (c) Notwithstanding any law to the contrary, a municipality or county may use money budgeted for maintenance and operations to pay the principal of and interest on bonds issued for an energy efficiency project under this subchapter.  (d)  (1) Bonds are not revenue bonds for purposes of any statute.  (2) The legislative body is not required to hold a public hearing on the issuance of the bonds.
AR Code § 14-164-814 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 10 - Economic Development And Tourism Generally|Chapter 164 - Industrial Development Bonds|Subchapter 8 - Local Government Energy Efficiency Project Bond Act|§ 14-164-814. Bonds — Energy efficiency project liens

 (a) An ordinance or trust indenture authorized under § 14-164-808 or § 14-164-810 may impose a financing lien on an energy efficiency project financed or refinanced, in whole or in part, with the proceeds of bonds.  (b) The nature and extent of a lien imposed under this section may be controlled by the ordinance or trust indenture, including without limitation provisions pertaining to:  (1) The release of all or part of the land, buildings, or facilities from the lien;  (2) The priority of the lien in the event of successive bond issues; and  (3) The authorization of any owner of bonds, or a trustee on behalf of all owners, to enforce the lien and, by proper suit, compel the performance of the duties of the officials of the issuer stated in this subchapter or in the ordinance or trust indenture authorizing or securing the bonds.    (c) As used in this section, “lien” includes a security interest in any personal property constituting an energy efficiency project and any part of an energy efficiency project financed or refinanced, in whole or in part, with the proceeds of bonds issued under this subchapter.
AR Code § 14-164-815 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 10 - Economic Development And Tourism Generally|Chapter 164 - Industrial Development Bonds|Subchapter 8 - Local Government Energy Efficiency Project Bond Act|§ 14-164-815. Liability of legislative body's officers, employees, and members

 An officer, employee, or member of the legislative body of an issuer under this subchapter shall not be personally liable on bonds or for damages sustained by a person in connection with a guaranteed energy cost savings contract entered into to carry out the purposes and intent of this subchapter unless the person has acted with a corrupt intent.
AR Code § 14-164-816 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 10 - Economic Development And Tourism Generally|Chapter 164 - Industrial Development Bonds|Subchapter 8 - Local Government Energy Efficiency Project Bond Act|§ 14-164-816. Tax exemption

 Bonds and the income on the bonds are exempt from all state, county, and municipal taxes, including without limitation income, property, and inheritance taxes.