reglab/housing_qa huggingface dataset:
AR Code § 14-234-201 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 2 - Purchase and Construction|§ 14-234-201. Definitions

 As used in this subchapter, unless the context otherwise requires:   (1) “Municipality” means any city of the first or second class or incorporated town in the State of Arkansas;  (2) “Waterworks system” means and includes a waterworks system in its entirety, or any integral part thereof, including mains, hydrants, meters, valves, standpipes, storage tanks, pumping tanks, intakes, wells, impounding reservoirs, or purification plants.
AR Code § 14-234-202 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 2 - Purchase and Construction|§ 14-234-202. Construction

 (a) This subchapter shall be construed as cumulative authority for the purchase or construction of a waterworks system or for the construction of betterments and improvements thereto and shall not be construed to repeal any existing laws with respect thereof.  (b)  (1) This subchapter shall, without reference to any other statute, be deemed full authority for the construction, acquisition, improvement, equipment, maintenance, operation, and repair of the works provided for in this subchapter and for the issuance and sale of the bonds by this subchapter authorized, and shall be construed as an additional and alternative method therefor and for the financing thereof.  (2) No petition or election, or other or further proceeding, in respect to the construction or acquisition of the works or to the issuance or sale of bonds under this subchapter and no publication of any resolution, ordinance, notice, or proceeding relating to the construction or acquisition or to the issuance or sale of the bonds shall be required except as prescribed by this subchapter, any provisions of other statutes of the state to the contrary notwithstanding.  (3) All functions, powers, and duties of the Department of Health shall remain unaffected by this subchapter.    (c) This subchapter being necessary for the public health, safety, and welfare, it shall be liberally construed to effectuate its purposes.
AR Code § 14-234-203 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 2 - Purchase and Construction|§ 14-234-203. Authority of municipalities

 (a) Municipalities are authorized to purchase or construct a waterworks system or any integral part thereof and to purchase and hold title to, lease, or rent in connection therewith any land, lake, watercourse, or water supply either inside or outside the limits of the municipality or inside or outside the limits of the county in which the municipality is located.  (b)  (1) In any municipality located in a county, the border line of which adjoins any other state, the municipality may take title to or lease or rent any land, lake, watercourse, or water supply outside this state.  (2) The ownership or lease of any land, lake, watercourse, or water supply located outside this state which has been acquired by any municipality previous to the passage of this subchapter is declared to be a valid exercise of the power of the municipality and shall remain in effect the same as if the acquisition by purchase or lease thereof had been made after the passage of this subchapter.    (c) Municipalities are authorized to construct a waterworks system or any integral part thereof either inside or outside the limits of the county in which the municipality is located.  (d) A municipality constructing a waterworks system or integral part thereof may sell the water to private consumers located inside and outside of the municipality. It may sell a part of the water to an improvement district, or it may sell the water or a part of it to a private corporation engaged in the business of selling water to private consumers in the municipality.  (e) Nothing in this section shall authorize any city or improvement district to sell its existing plant to a private corporation.
AR Code § 14-234-204 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 2 - Purchase and Construction|§ 14-234-204. Authority of cities and towns — Use of revenues

 (a) Any city or incorporated town in the State of Arkansas may purchase or construct a waterworks system, or construct betterments and improvements to its waterworks system, or to a system owned by a waterworks district and operated by the city or town, as provided in this subchapter.  (b) Any city operating a waterworks system owned, constructed, or acquired by a waterworks district is authorized to use the revenue derived from operating the waterworks system in paying revenue bonds and the interest on the bonds issued under and pursuant to the terms of this subchapter, and, for that purpose may create a sinking fund, and other items prescribed by this subchapter, operating expenses, and maintenance and improvement of the existing system owned by the district. The balance of the revenue remaining shall be paid by the city to the district to be used in retiring obligations of the district.
AR Code § 14-234-205 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 2 - Purchase and Construction|§ 14-234-205. Ordinance for issuance of bonds — Contents

 (a) Whenever the legislative body of any municipality shall determine to purchase or construct a waterworks system under the provisions of this subchapter, it shall cause an estimate to be made of the cost thereof, and shall, by ordinance, provide for the issuance of revenue bonds under the provisions of this subchapter.  (b)  (1) The ordinance shall set forth a brief description of the contemplated improvement, the estimated cost thereof, the amount and rate of interest, the time and place of payment, and other details in connection with the issuance of the bonds.  (2) The bonds shall bear interest as the ordinance authorizing their issuance may provide, payable semiannually, and shall be payable at any times and places not exceeding forty (40) years from their date as shall be prescribed in the ordinance providing for their issuance.  (3) The ordinance shall also declare that a statutory mortgage lien shall exist upon the property so to be acquired or constructed, fix the minimum rate or rates for water to be collected prior to the payment of all of the bonds, and pledge the revenues derived from the waterworks system for the purpose of paying the bonds and interest thereon.  (4) The pledge shall definitely fix and determine the amount of revenue which shall be necessary to be set apart and applied to the payment of the principal of and interest on the bonds and the proportion of the balance of the revenues and income which are to be set aside as a proper and adequate depreciation account, and the remainder shall be set aside for the reasonable and proper operation thereof.    (c) The rates to be charged for the services from the waterworks shall be sufficient to provide for the payment of interest upon all bonds and to create a sinking fund to pay the principal as and when they become due, to provide for the operation and maintenance of the system, and to provide an adequate depreciation fund.
AR Code § 14-234-207 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 2 - Purchase and Construction|§ 14-234-207. Bonds — Amount — Negotiability — Execution — Sale

 (a) Bonds shall be issued in such amounts as may be necessary to provide sufficient funds to pay all costs of construction or acquisition, including engineering, legal, and other expenses, together with interest to a date six (6) months subsequent to the estimated date of completion.  (b) Bonds issued under the provisions of this subchapter are declared to be negotiable instruments.  (c) They shall be executed by the presiding officer and clerk or recorder of the municipality and be sealed with the corporate seal of the municipality. In case any of the officers whose signatures appear on the bonds or coupons shall cease to be officers before delivery of the bonds, the signature shall nevertheless be valid and sufficient for all purposes the same as if the officers had remained in office until delivery.  (d) The bonds may be sold at not less than ninety cents (90¢)on the dollar. The proceeds derived therefrom shall be used exclusively for the purposes for which the bonds are issued. Bonds may be sold at one time or in parcels as funds are needed.
AR Code § 14-234-208 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 2 - Purchase and Construction|§ 14-234-208. Lien in favor of bondholders — Enforcement — Appointment of receiver upon default

 (a)  (1) There shall be created a statutory mortgage lien upon the waterworks system 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 system shall remain subject to the statutory mortgage lien until payment in full of the principal and interest of 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 of any coupons representing interest accrued thereon may, either at law or in equity, enforce the statutory mortgage lien and may, by proper suit, compel the performance of the duties of the officials of the issuing municipality set forth in this subchapter.  (c) If there be 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 system on behalf of the municipality with power to charge and collect rates sufficient to provide for the payment of the bonds and interest thereon, and for the payment of the operating expenses and to apply the income and revenues in conformity with this subchapter and the ordinance providing for the issuance of the bonds.
AR Code § 14-234-209 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 2 - Purchase and Construction|§ 14-234-209. Accounts — Audit — Treasurer as custodian of fund — Fund separated from city funds

 (a) Any municipality issuing revenue bonds under the provisions of this subchapter shall install and maintain a proper system of accounts showing the amount of revenue received and the application of the revenue.  (b) The municipality shall at least once a year cause the accounts to be properly audited by a competent auditor. The report of the audit shall be open for inspection at all proper times to any taxpayer, water user, or any holder of bonds issued under the provisions of this subchapter, or anyone acting for and on behalf of such taxpayer, water user, or bondholder.  (c) The treasurer of the municipality shall be custodian of the funds derived from income received from waterworks systems acquired or constructed either in whole or in part under the provisions of this subchapter and shall give proper bond for the faithful discharge of his duties as custodian. The bond shall be fixed and approved by the legislative body of the municipality.  (d)  (1) All of the funds received as income from a waterworks system 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 a waterworks system shall be kept separate and apart from the other funds of the city.  (2) The treasurer shall maintain separate accounts in which shall be placed the interest and sinking fund moneys and another account in which shall be placed the depreciation funds, all to provide for refunding outstanding certificates payable out of water revenue.
AR Code § 14-234-210 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 2 - Purchase and Construction|§ 14-234-210. Allocation of specific portion of issue of bonds to particular project

 (a) Any specified portion of the proceeds of an issue of bonds authorized under this subchapter may be allocated by the municipal council to any particular project or to new construction as distinguished from the purchase of works already constructed.  (b)  (1) After 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 municipality 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, on the suit of any of the bondholders, or on the suit of any person whose property, under the ordinance of the council, is to be served by the proposed works.    (c) In making the allocation, the municipal council will be controlled by the engineer's estimate of cost referred to in the initial ordinance.  (d)  (1) In the event of allocation of proceeds, the bonds themselves may be similarly and correspondingly segregated and allocated to the respective purposes of the issue.  (2) Bonds segregated and allocated to one (1) purpose, from the standpoint of legality and in all other respects, shall be deemed to have been issued to finance that purpose, and that alone.  (3) Notwithstanding the allocation and segregation, and unless the initial ordinance or the indenture accompanying the bonds shall provide to the contrary, all bonds of the entire issue will be secured ratably and equally by the revenues of the entire and aggregate works financed by the bond issue.  (4) Unless the ordinance 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 § 14-234-211 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 2 - Purchase and Construction|§ 14-234-211. Acceleration of maturities — Priorities between bond issues — Execution of indenture

 (a) The ordinance authorizing 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, or upon failure to meet any sinking fund requirements, or in any other event stipulated in the ordinance. Such provisions will be binding.  (b) The priorities as between successive issues of revenue bonds may also be controlled by the provisions of the ordinance.  (c) The ordinance may also, if deemed desirable, provide for the execution, contemporaneously with the execution of bonds, by the municipality of an indenture:  (1) Defining the rights of the bondholders inter sese;  (2) Appointing a trustee for the bondholders, which trustee may be a domestic or foreign corporation;  (3) Vesting in the trustee, to such extent as is deemed advisable, all rights of action under the bonds;  (4) Providing for the priority of lien as between successive bond issues;  (5) Providing for the acceleration of bond maturities;  (6) Containing any covenants on the part of the municipality relating to the construction or acquisition of the works, the application or safeguarding of the proceeds of the bonds, or other covenants intended for the protection of the bondholders; and  (7) 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 § 14-234-212 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 2 - Purchase and Construction|§ 14-234-212. Issuance of bonds to construct improvements

 (a)  (1) If any municipality shall own or operate a waterworks system, whether or not purchased or constructed under the provisions of this subchapter, and shall desire to construct improvements, extensions, or betterments thereto, it may issue revenue bonds under the provisions of this subchapter to provide funds for those purposes. However, if the municipality deems that it has sufficient funds to construct the proposed improvements without borrowing, then it shall not be necessary to issue revenue bonds to pay for the proposed improvements.  (2) A municipality may also issue revenue bonds under the provisions of this subchapter to provide funds to pay extraordinary expenses or liabilities arising from the ownership and operation of its waterworks system including, without limitation, liabilities to customers of the waterworks system for charges collected for services of the system.    (b)  (1) The procedure for the issuance of bonds and the fixing of rates shall be the same as in this subchapter provided for the issuance of bonds for the acquisition or construction of a waterworks system in a municipality which has not theretofore owned and operated a waterworks system.  (2) In the ordinance declaring the intention to issue bonds and providing details in connection therewith, the legislative body shall either:  (A) Provide, find, and declare, in addition to the other requirements set out in this subchapter, the value of the then-existing system and, in the case of financing betterments and improvements, the value of the property proposed to be constructed and that the revenues derived from the entire system when the contemplated betterments and improvements are completed shall be divided according to such values and that so much of the revenue as is in proportion to the value of the betterments and improvements as against the value of the previously existing plant as so determined shall be set aside and used solely and only for the purpose of paying the revenue bonds issued for the betterments and improvements, together with the cost of operation, maintenance, and depreciation thereof, and the revenues shall be deemed to be income derived exclusively from the betterments and improvements; or  (B) Provide that there shall be set aside and used solely and only for the purpose of paying revenue bonds issued:  (i) For the betterments and improvements, together with the cost of depreciation, maintenance, and operation thereof; or  (ii) For extraordinary expenses or liabilities all or any part of the surplus in the bond and interest redemption account referred to in § 14-234-214.      (3) For the purpose of allocating revenues, the book value of the existing system may be deemed to be the value of the existing system.
AR Code § 14-234-213 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 2 - Purchase and Construction|§ 14-234-213. Exchange of unpaid water revenue certificates for refunding bonds

 (a) Whenever all of the holders of unpaid water revenue certificates of a particular issue, which were issued to pay the cost of constructing a waterworks system and which are payable from the revenues thereof, shall offer in writing to exchange the certificates for refunding revenue bonds to be issued under the provisions of this subchapter, the legislative body shall receive the certificates, and if they are found to be properly executed, may adopt an ordinance incorporating therein the offer, setting forth the determined value of the entire waterworks system as it then exists, the value of so much of the system as was paid for by the issue of certificates, the unpaid portion of which is proposed to be refunded, and the details in connection with the issuance of the bonds in the same manner as is provided for in the issuance of revenue bonds. The municipality may fix the minimum rate or rates to be charged for water and pledge the revenues, if and when the refunding revenue bonds are issued, to pay the bonds.  (b) The revenues shall be applied as provided in this subchapter for revenue bonds and particularly §§ 14-234-212 and 14-234-214.  (c) The amount of refunding revenue bonds shall not exceed and may be less than the par amount of certificates to be surrendered and shall not exceed and may be less than the determined value of so much of the systems as was paid for by the issue of certificates, less the amount of certificates paid.  (d)  (1) The ordinance shall be published together with notice of hearing thereon in the same manner as is provided in this subchapter in case of the issuance of revenue bonds, and hearing shall be had thereon as is provided in this subchapter in case of the issuance of revenue bonds.  (2) After the hearing, the refunding revenue bonds may be issued, or a less amount thereof may be issued with the consent of the certificate holders, or the ordinance may be repealed, all as the legislative body shall determine.    (e) If the refunding revenue bonds are issued, the certificates shall be surrendered and cancelled simultaneously therewith.  (f) Refunding revenue bonds issued under the provisions of this subchapter shall be payable only out of the revenues derived from the system as provided in the ordinance and according to the terms of this subchapter.  (g) Holders of refunding revenue bonds issued under the provisions of this subchapter shall have similar rights as holders of revenue bonds issued under this subchapter, including the power to apply for a receiver to operate the system, and the municipality shall be under the same obligations to the bondholders as is provided to holders of revenue bonds issued under the provisions of this subchapter.
AR Code § 14-234-215 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally|Chapter 234 - Waterworks and Water Supply|Subchapter 2 - Purchase and Construction|§ 14-234-215. Eminent domain

 (a) For the purpose of acquiring any lands or property for the operation of the municipal waterworks system authorized by law, a municipality shall have the right of eminent domain as provided in §§ 18-15-301 — 18-15-303.  (b) The municipality shall have the right by its agents or employees to peacefully enter upon any lands, structures, or rights-of-way to make surveys, tests, and measurements thereon, but is liable for any damage that may result by reason of its acts.  (c)  (1) When a municipality by inadvertence has taken private property without the eminent domain procedure authorized by law or without the consent of the property owner, the municipality may file an application in the circuit court of the county in which the property is situated setting out the facts and praying that a jury be assembled to assess the amount the municipality should pay for the property so taken.  (2) Service of process or publication of notice shall be as provided in §§ 18-15-301 — 18-15-303.