reglab/housing_qa huggingface dataset:
AR Code § 14-184-119 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 184 - Central Business Improvement Districts|Subchapter 1 - General Provisions|§ 14-184-119. Revenue-producing facilities

 (a)  (1) Nothing in this subchapter shall be deemed to limit or prohibit the operation of any facility which is a part of the plan of improvement as a revenue-producing facility.  (2) Without limiting the generality of this provision, a central business improvement district may construct, operate, and maintain public restaurants, parking garages, and automobile serving facilities, places of amusement and entertainment, including facilities for the sale of food and refreshments and other similar public facilities, under circumstances which may provide revenues exceeding the cost of the operations of them.    (b) The revenues may be:  (1) Used to defray the costs of general operation and maintenance of the district;  (2) Used to retire indebtedness of the district; or  (3) Set aside and pledged in separate funds to secure other indebtedness of the district.    (c) The board of commissioners may authorize the lease of any of the facilities, or a portion of them constructed under the plan, including the parking garages, to other persons for such rental, upon such terms, and for such time as the board shall deem desirable.
AR Code § 14-184-120 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 184 - Central Business Improvement Districts|Subchapter 1 - General Provisions|§ 14-184-120. Authority to borrow, issue bonds, etc. — Security — Amount

 (a) For the purpose of providing funds to pay preliminary expenses, to construct improvements according to the plan, or to pay for an improvement already completed, a central business improvement district may borrow money in an amount not exceeding the estimated costs of it, including interest on the money borrowed to a date six (6) months subsequent to the estimated date of completion of the work and a reserve not to exceed one (1) year's principal and interest requirements and, to that extent, may issue negotiable bonds or certificates of indebtedness bearing a rate of interest not to exceed the maximum rate allowed by law.  (b) In order to secure the bonds, the district may pledge and mortgage all uncollected assessment of benefits for the payment of the bonds.  (c) In addition to bonds for which uncollected assessments may be mortgaged and pledged, or in conjunction with them, the district is authorized to issue revenue bonds from time to time in sufficient principal amounts and to use the proceeds of them, together with any other available funds, for the purposes set forth in this subchapter.
AR Code § 14-184-121 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 184 - Central Business Improvement Districts|Subchapter 1 - General Provisions|§ 14-184-121. Bonds — Authorizing resolution

 (a) The bonds of the district, whether payable from assessments, from revenues, or from both shall be authorized by a resolution of the board of commissioners.  (b) The authorizing resolution may contain any of the terms, covenants, and conditions that are deemed desirable by the board including, without limitation, those pertaining to:  (1) The maintenance of various funds and reserves;  (2) The nature and extent of the security;  (3) The issuance of additional bonds and the nature of the lien and pledge, parity or priority, in that event;  (4) The custody and application of the proceeds of the bonds;  (5) The collection and disposition of revenues;  (6) The investing and reinvesting, in securities specified by the board, of any moneys during periods not needed for authorized purposes; and  (7) The rights, duties, and obligations of the district, the board, and of the holders and of the registered owners of the bonds.
AR Code § 14-184-122 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 184 - Central Business Improvement Districts|Subchapter 1 - General Provisions|§ 14-184-122. Bonds — Terms and conditions

 (a) As the board of commissioners shall determine, the bonds may:  (1) Be coupon bonds, payable to bearer, or may be registrable as to principal only or as to principal and interest, and may be made exchangeable for bonds of another denomination;  (2) Be in such form and denomination;  (3) Have such date or dates;  (4) Be stated to mature at such times;  (5) Bear interest payable at such times and at such rate or rates. However, no bond may bear interest at a rate exceeding the maximum rate allowed by law;  (6) Be payable at such places within or without the State of Arkansas;  (7) Be made subject to such terms of redemption in advance of maturity at such prices; and  (8) Contain such terms and conditions.    (b) The bonds shall have all the qualities of negotiable instruments under the laws of the State of Arkansas, subject to provisions as to registration, as set forth in this section.
AR Code § 14-184-123 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 184 - Central Business Improvement Districts|Subchapter 1 - General Provisions|§ 14-184-123. Bonds — Trust indenture

 (a) The authorizing resolution may provide for the execution by the district with a bank or trust company, within or without the State of Arkansas, of a trust indenture.  (b) The trust indenture may contain any terms, covenants, and conditions that are deemed desirable by the board including, without limitation, those pertaining to:  (1) The maintenance of various funds and reserves;  (2) The nature and extent of the security;  (3) The issuance of additional bonds and the nature of the lien and pledge, parity or priority, in that event;  (4) The custody and application of the proceeds of the bonds;  (5) The collection and disposition of assessments and of revenues;  (6) The investing and reinvesting, in securities specified by the board, of any moneys during periods not needed for authorized purposes; and  (7) The rights, duties, and obligations of the board and the holders and registered owners of the bonds.
AR Code § 14-184-124 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 184 - Central Business Improvement Districts|Subchapter 1 - General Provisions|§ 14-184-124. Bonds — Sale

 (a) The bonds may be sold for such price, including without limitation sale at a discount, and at such rate of interest and in such manner as the board may determine by resolution.  (b) [Repealed].  (c) [Repealed].  (d) [Repealed].  (e) Any bank, savings and loan association, or other financial institution regulated by an agency of the state in which it is incorporated, or the federal government may bid upon and purchase these bonds, notwithstanding the fact that a director, officer, employee, or shareholder of that financial institution is a member of the board of the district, and the provisions of §§ 14-88-309, 14-88-310, and 14-88-402 shall not apply to any such transaction.
AR Code § 14-184-125 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 184 - Central Business Improvement Districts|Subchapter 1 - General Provisions|§ 14-184-125. Bonds — Execution and seal

 (a)  (1)  (A) The bonds shall be executed by the manual or facsimile signature of the chairman of the board and by the manual signature of the secretary of the board.  (B) The coupons attached to the bonds shall be executed by the facsimile signature of the chairman.    (2) In case any of the officers whose signatures appear on the bonds or coupons shall cease to be such officers before the delivery of the bonds or coupons, their signatures shall, nevertheless, be valid and sufficient for all purposes.    (b) The district shall adopt and use a seal in the execution and issuance of the bonds, and each bond shall be sealed with the seal of the district.
AR Code § 14-184-126 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 184 - Central Business Improvement Districts|Subchapter 1 - General Provisions|§ 14-184-126. Refunding bonds

 (a)  (1) Bonds may be issued for the purpose of refunding any bonds issued under this subchapter.  (2)  (A) Refunding bonds may be either sold or delivered in exchange for the bonds being refunded.  (B) If sold, the proceeds may be either applied to the payment of the bonds being refunded or deposited in trust and there maintained in cash or investments for the retirement of the bonds being refunded, as shall be specified by the central business improvement district in the resolution or trust indenture securing the bonds.      (b)  (1) The resolution or trust indenture securing the refunding bonds may provide that the refunding bonds shall have the same priority on assessments or revenues pledged for their payment as was enjoyed by the bonds refunded.  (2) Revenue refunding bonds shall be sold and secured in accordance with the provisions of this subchapter pertaining to the sale and security of the bonds initially issued.    (c) Refunding bonds secured primarily by the mortgage and pledge of assessed benefits may also be issued in accordance with the laws governing refunding bonds of municipal improvement districts generally.
AR Code § 14-184-127 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 184 - Central Business Improvement Districts|Subchapter 1 - General Provisions|§ 14-184-127. Obligation on bonds

 (a)  (1) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this subchapter, that the bonds shall be obligations only of the central business improvement district, and that in no event shall they constitute any indebtedness for which the faith and credit of the municipality or any of its revenues are pledged.  (2) No member of the board of commissioners shall be personally liable on the bonds or for any damages sustained by anyone in connection with any contracts entered into in carrying out the purposes and intent of this subchapter unless he shall have acted with corrupt intent.    (b)  (1) The principal of, interest on, and paying agent's fees in connection with the bonds shall be secured by a lien on and pledge of, and shall be payable from, the assessments levied against the real property within the district or the revenues derived from the operation of revenue-producing facilities of the district including, without limitation, lease rentals as provided for in this subchapter, constructed or acquired under the provisions of this subchapter.  (2) In this regard, the district is authorized to issue bonds for the purposes of constructing and equipping one (1) or more separate and distinct facilities as it may determine and, in the event more than one (1) facility is involved, to operate and pledge revenues from all such facilities as though a single project were involved.    (c)  (1) In the case of a separate facility financed by a separate bond issue, the district may pledge and use for debt service and reserves maintained in connection with the single project revenues derived from another project, either on a parity or subordinate lien basis as may be determined by the district, subject to the provisions of any resolutions or trust indentures which authorized and secured bonds previously issued.  (2) The right to issue subsequent issues of bonds can, if the district so determines, be reserved in any authorizing resolution or trust indenture on either a parity or subordinate lien basis and upon such terms and conditions as the district may determine and specify in the particular authorizing resolution or trust indenture.
AR Code § 14-184-128 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 184 - Central Business Improvement Districts|Subchapter 1 - General Provisions|§ 14-184-128. Bonds — Tax exemption

 (a) Bonds issued under the provisions of this subchapter and the interest on them shall be exempt from all state, county, and municipal taxes.  (b) This exemption shall include income, inheritance, and estate taxes.
AR Code § 14-184-129 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 184 - Central Business Improvement Districts|Subchapter 1 - General Provisions|§ 14-184-129. Public investment in bonds

 (a) Any municipality; any board, commission, or other authority duly established by ordinance of any municipality; 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 of the State of Arkansas may, in its discretion, invest any of its funds not immediately needed for its purposes in bonds issued under the provisions of this subchapter.  (b) Bonds issued under the provisions of this subchapter shall be eligible to secure the deposit of public funds.
AR Code § 14-184-130 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 184 - Central Business Improvement Districts|Subchapter 1 - General Provisions|§ 14-184-130. Dissolution of district

 (a) A central business improvement district created under this subchapter shall continue in existence in perpetuity unless dissolved by ordinance of the governing body to be enacted solely in the manner provided in this section:  (1) A majority of the board of commissioners and a majority in value of the owners of real property in the district may petition the governing body for the dissolution of the district; or  (2) The owners of real property in the district comprising two-thirds (2/3) in value of the real property may petition the governing body for the dissolution of the district;  (3) Upon the filing with the clerk or recorder of the municipality in which the district is located of a petition in accordance with subdivision (1) or (2) of this subsection, it shall then be the duty of the governing body to adopt an appropriate ordinance dissolving the district and providing for the distribution of its assets.    (b)  (1) If practicable, all funds of the district remaining after the payment of any outstanding indebtedness shall be distributed pro rata to the owners of real property within the district in proportion to the assessment of benefits as it appears according to the most recent reassessment of them; otherwise, funds which cannot be practicably refunded shall be paid to the municipality in which the district is located for its general account.  (2) Title to all personal property owned by the district and title to all real property, improvements, easements, and other rights constructed or acquired by the district shall, unless otherwise provided in any conveyance, easement, or grant of right, pass to the municipality in which the district is located.    (c) No district shall be dissolved at any time during which there shall be outstanding bonded indebtedness of the district unless funds sufficient to retire the indebtedness including all interest, redemption premium, if any, trustee's and paying agent's fees, and cost of publication of notices of redemption have been deposited in trust according to the terms of the resolution or trust indenture authorizing the bonded indebtedness.
AR Code § 14-184-201 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 184 - Central Business Improvement Districts|Subchapter 2 - Financing of Improvements|§ 14-184-201. Legislative determinations

 It is determined and declared by the General Assembly that:   (1) The deterioration of the central business districts of urban centers of the state is a threat to the property tax and other revenue sources of such municipalities;  (2) Funds for the improvement and modernization of property and for the acquisition of property for the purpose of improvement and modernization of the property in such areas are in many instances unavailable from established lending institutions at reasonable rates of interest;  (3) The public interest requires a convenient and reasonable source of permanent financing to enable the acquisition of property for the purpose of modernization and improvement and to enable property owners to make the needed improvements in conjunction with plans of improvement undertaken, or to be undertaken, by central business improvement districts created under the authority of §§ 14-184-101 — 14-184-130; and  (4) Such improvements will:  (A) Operate to eliminate and prevent urban blight and decay;  (B) Provide for the modernization of properties within the central business districts thus improving the local tax structure, reducing crime and disease, and other hazards to persons and property; and  (C) Be of general public benefit.
AR Code § 14-184-202 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 184 - Central Business Improvement Districts|Subchapter 2 - Financing of Improvements|§ 14-184-202. Definition

 As used in this subchapter, unless the context otherwise requires, “property” means real property and tangible and intangible personal property.
AR Code § 14-184-203 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 184 - Central Business Improvement Districts|Subchapter 2 - Financing of Improvements|§ 14-184-203. Construction

 (a) This subchapter shall be construed liberally.  (b) The enumeration of any object, purpose, power, manner, method, and thing shall not be deemed to exclude like or similar objects, purposes, powers, manners, methods, and things.
AR Code § 14-184-204 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 184 - Central Business Improvement Districts|Subchapter 2 - Financing of Improvements|§ 14-184-204. Provisions supplemental

 This subchapter shall be construed as cumulative of existing laws relating to the creation, operation, and existence of municipal improvement districts and shall not repeal any existing law unless the law is in direct conflict with this subchapter. It is the intent of this subchapter to authorize and enumerate additional powers for these districts.
AR Code § 14-184-205 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 184 - Central Business Improvement Districts|Subchapter 2 - Financing of Improvements|§ 14-184-205. Revenue bonds authorized

 Central business improvement districts created under the authority of § 14-184-101 et seq. are authorized to issue revenue bonds for the purpose of providing funds for the acquisition, construction, reconstruction, repair, replacement, renovation, or any other restoration or improvement of real and personal property located within the boundaries of the district which, in the opinion of the board of commissioners, will further the elimination of urban blight and decay and provide for the modernization and general improvement of the properties within the district.
AR Code § 14-184-206 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 184 - Central Business Improvement Districts|Subchapter 2 - Financing of Improvements|§ 14-184-206. Loans to property owners

 (a) Direct loans may be made by a central business improvement district to property owners, including lessees of the property owners, within the district on such terms and conditions, and with such security for repayment, as the commissioners shall deem necessary and desirable.  (b) Loans may be evidenced by promissory notes, debentures, or other evidence of indebtedness, and may be secured by mortgages, security interests in personal property, guarantees, or such other security as the commissioners shall require in their sole discretion.
AR Code § 14-184-207 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 184 - Central Business Improvement Districts|Subchapter 2 - Financing of Improvements|§ 14-184-207. Providing of funds

 (a) For the purpose of providing funds to make loans including any reserve for contingencies deemed desirable, a central business improvement district may issue negotiable bonds or certificates of indebtedness bearing a rate of interest not to exceed the maximum rate allowed by law.  (b) In order to secure the bonds, the district may pledge, assign, or otherwise encumber any notes, debentures, evidences of indebtedness, mortgages, security interests, or other instrument of security or guaranty which may have been obtained to evidence a loan from the district to property owners within the district to accomplish the purposes of this subchapter.  (c) Assessments of benefits against the property owners in the district may not be pledged to secure the payment of the bonds authorized by this subchapter.
AR Code § 14-184-208 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 184 - Central Business Improvement Districts|Subchapter 2 - Financing of Improvements|§ 14-184-208. Bonds — Authorizing resolution

 (a) The bonds of a central business improvement district shall be authorized by a resolution of the board of commissioners.  (b) The authorizing resolution may contain any of the terms, covenants, and conditions that are deemed desirable by the board, including, without limitation, those pertaining to:  (1) The maintenance of various funds and reserves;  (2) The nature and extent of the security;  (3) The issuance of additional bonds and the nature of the lien and pledge, parity or priority, in that event;  (4) The custody and application of the proceeds of the bonds;  (5) The collection and disposition of revenues;  (6) The investing and reinvesting, in securities specified by the board, of any moneys during periods not needed for authorized purposes; and  (7) The rights, duties, and obligations of the district, the board, and of the holders and of the registered owners of the bonds.