reglab/housing_qa huggingface dataset:
AR Code § 14-187-107 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 187 - Municipal Wharf Improvement Districts|§ 14-187-107. Payment and securing indebtedness

 (a) Where the sale price is for an amount greater than the outstanding indebtedness of a municipal wharf improvement district, the excess shall be paid in cash.  (b)  (1)  (A) In the event the purchaser desires to purchase the property and pay off the bonded indebtedness of the district as the bonded indebtedness matures, as a part of the purchase price, then the purchaser shall be required to assume the payment of the indebtedness, together with the accrued interest on it. To secure the payment of the indebtedness, together with the accrued interest on the bonded indebtedness, the purchaser shall be required to give a bond in favor of the city and the district in an amount equal to the unpaid purchase price including the indebtedness of the district.  (B) The bond shall also be for the maintenance of the terminal and terminal facilities and shall remain in full force and effect until the unpaid purchase price, including the indebtedness of the district, has been paid in full. However, the city council and the board of improvement of the district shall have the right to reduce the amount of the bond from time to time in proportion to the amount of the indebtedness as discharged and retired by the purchaser of the improvements.    (2) The bond shall be further conditioned that the purchaser will maintain insurance upon the properties so purchased and sold for an amount to be agreed upon by the board and respective purchaser, with the loss payable clause for the benefit of the district making the sale, as its interests may appear.  (3) The bond provided for in this section shall be approved by the council and the board of the district and shall be made and executed by a corporate surety company authorized to do business in the State of Arkansas. However, the council and the board of the district shall, by their joint action, waive the execution of the bond required in this section when, in their judgment and discretion, the bond is not necessary or required for the protection of the city, the district, and the landowners.
AR Code § 14-187-108 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 187 - Municipal Wharf Improvement Districts|§ 14-187-108. Deed of conveyance

 (a)  (1)  (A) The transfer of property under this chapter shall be evidenced by a deed of conveyance in the usual form and with the usual covenants of warranty. A lien against the property sold shall be retained in the deed for all of the unpaid purchase price. The lien shall include the indebtedness of the district required to be assumed by the purchaser, with the right in the board of improvement of the district upon default in the payment of any part or portion of the principal or interest, as it matures, to declare all of the purchase price due and payable and to proceed to foreclose the lien on the property.  (B) In the same action or by separate action, the board of improvement and the city shall proceed against the surety on the bond provided for in § 14-187-107 to recover any and all damages that the district may have sustained on account or by reason of the breach of the sale.    (2) The deed of conveyance shall be executed on behalf of the city by the mayor and clerk and on behalf of the improvement district by the chairman and secretary of the board of improvement.    (b)  (1) The sale of all property of an improvement district shall not work a forfeiture of the corporate entity of the district until all of the purchase price including the indebtedness of the district so assumed by the purchaser shall have been paid in full.  (2) Upon the payment of all the indebtedness by the purchaser, the lien retained in the deed of conveyance shall be satisfied by a deed of release or by marginal entry upon the deed records where it is recorded, by the mayor and clerk for and in behalf of the city and by the chairman and secretary of the board of improvement for and on behalf of the district.
AR Code § 14-187-109 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 187 - Municipal Wharf Improvement Districts|§ 14-187-109. Payment exceeding debts

 If the properties authorized to be sold under this chapter should sell for more than the secured and unsecured indebtedness of the municipal wharf improvement district, then the excess shall be apportioned and paid by the board of improvement back to the then-owners of record of the real property of the district in the same proportion that each parcel of the property has contributed in taxes for the acquisition, construction, and operation of the improvement.
AR Code § 14-188-101 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 188 - Rural Development Authorities|§ 14-188-101. Title

 This chapter may be referred to as the “Rural Development Authority Act.”
AR Code § 14-188-102 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 188 - Rural Development Authorities|§ 14-188-102. Legislative declarations

 It is declared that:   (1) Many rural areas of Arkansas suffer from chronic unemployment and underemployment, lack of economic development, and patterns of land use which contribute to soil erosion, undue depletion of soil fertility resulting in inadequate income to support the farm family, and inadequate control of surface waters for flood prevention or drainage and for the maximum conservation and multiple utilization of water resources;  (2) Adequate healthcare facilities are essential to the economic development of rural areas of the state;  (3) Economic development of rural areas of Arkansas is a public use and purpose for which public money may be spent and private property acquired and is a governmental function of state concern;  (4) It is a proper public purpose for any state public body to aid, as provided in this chapter, any rural development authority operating within its boundaries or jurisdiction, or any rural development project located in it, as the state public body derives immediate benefits and advantages from such an authority or project;  (5) It is in the public interest that such rural development projects be commenced as soon as possible in order to alleviate these conditions of chronic unemployment, underemployment, and economic underdevelopment of rural areas which constitute an emergency; and  (6) The necessity in the public interest for the provisions enacted in this chapter is declared as a matter of legislative determination.
AR Code § 14-188-104 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 188 - Rural Development Authorities|§ 14-188-104. Creation of authorities

 (a)  (1) In each county of the state there is created a public body corporate and politic to be known as the rural development authority.  (2) The authority shall not transact any business or exercise its powers under this chapter until or unless the county court, by proper resolution, shall declare, at any time, its need for a development authority to function in the county.    (b)  (1)  (A) The determination as to whether there is a need for an authority to function may be made by:  (i) The county court on its own motion; or  (ii) The county court upon the filing of a petition signed by twenty-five (25) residents of the county asserting that there is need for an authority to function in the county and requesting that the court so declare.    (B)  (i) In either event, the court shall hold a public hearing on the matter as set forth in this section.  (ii) Prior to any hearing held to determine if there is need for an authority to function in the county, the clerk shall cause notice of the hearing to be published for at least two (2) successive weeks in a newspaper of general circulation in the county, setting forth the time and place of the hearing.  (iii) Not more than two (2) weeks after the last publication of the notice, the court shall hold a public hearing on it and adopt a resolution which shall state if there is a need for a development authority in the county and define the area of operation, which may be enlarged or reduced by a majority of the commissioners, appointed pursuant to this chapter, at any subsequent meeting.  (iv) The court may adopt a resolution declaring that there is a need for development authority in the county if it shall find that:  (a) Chronic unemployment or chronic underemployment exists in the area; or  (b) The economic development of the area is inadequate when compared with the economic development of other parts of rural America.        (2) The determination as to whether there is need for a development authority to function shall be made upon the petition of a majority in number of the owners of title to real property and the owners of a majority in value of the real property in any proposed development area, as shown by the last assessment, which petition shall define the boundaries of the proposed area of development and request the creation of a rural development authority for the area.    (c) In any suit, action, or proceeding involving the validity or enforcement of, or relating to, any resolution, regulation, or contract of the authority, the authority shall be conclusively deemed to have become established and authorized to transact business and exercise its powers under this chapter upon proof of its compliance with this section.
AR Code § 14-188-105 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 188 - Rural Development Authorities|§ 14-188-105. Appointment of commissioners, etc

 (a)  (1) When the county court adopts a resolution as prescribed in § 14-188-104, the court shall appoint five (5) persons as commissioners of the rural development authority created for the county.  (2)  (A) The commissioners who are first appointed shall be designated to serve for terms of one (1), two (2), three (3), four (4), and five (5) years, respectively, from the date of their appointment. Thereafter, commissioners shall be appointed as indicated for a term of office of five (5) years, except that all vacancies shall be filled for the unexpired terms.  (B)  (i) A certificate of the appointment or reappointment of any commissioner shall be filed with the county clerk.  (ii) The certificate shall be conclusive evidence of the due and proper appointment of the commissioner.      (3) The county court of the county shall designate one (1) of the commissioners who shall be the first chairman.    (b)  (1) Immediately after appointment, the authority shall hold its first meeting, presided over by the first chairman, and elect a vice chairman from among its commissioners.  (2)  (A) The authority shall employ a secretary who shall be executive director, technical experts, and such other officers, agents, and employees as it may require and shall determine their qualifications, duties, and compensation.  (B) For such legal services as it may require, an authority may call upon the chief law officer of the county, or it may employ its own counsel.    (3) An authority may delegate to one (1) or more of its agents or employees such powers or duties as it may deem proper.    (c)  (1) The powers of each authority shall be vested in its commissioners in office from time to time.  (2)  (A) Three (3) commissioners shall constitute a quorum of the authority for the purposes of conducting its business and exercising its powers and for all other purposes.  (B) Action may be taken by the authority upon a vote of a majority of the commissioners present, except as provided in this chapter and except as otherwise provided in the rules and regulations of the authority.    (3) Minutes of all authority meetings are to be kept by the secretary and shall be made available to the county court of the county at any time.  (4) A commissioner shall receive no compensation for his services, but he shall be entitled to necessary expenses including travel expenses incurred in the discharge of his duties.
AR Code § 14-188-106 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 188 - Rural Development Authorities|§ 14-188-106. Rules and regulations

 (a) At the first meeting, a rural development authority shall adopt rules and regulations which are to be filed with the county clerk.  (b) Amendments to the rules and regulations may be made at any time and shall be filed with the clerk.
AR Code § 14-188-107 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 188 - Rural Development Authorities|§ 14-188-107. Interest of commissioners or employees prohibited

 (a)  (1) No commissioner or employee of a rural development authority shall directly or indirectly acquire any interest in any development project or in any property included, or planned to be included, in any project.  (2) Nor shall a commissioner or employee have any direct or indirect interest in any contract or proposed contract for materials or services to be furnished for use in connection with any project.    (b)  (1) If any commissioner or employee of an authority owns or controls a direct or indirect interest in property included, or planned to be included, in any project, he immediately shall disclose it in writing to the authority. This disclosure shall be entered upon the minutes of the authority.  (2) Failure to disclose his interest shall constitute misconduct in office.
AR Code § 14-188-108 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 188 - Rural Development Authorities|§ 14-188-108. Removal of commissioner

 (a)  (1) For insufficiency or neglect of duty or misconduct in office, a commissioner of a rural development authority may be removed by the county court.  (2) A commissioner shall be removed only after he shall have been given a copy of the charges at least ten (10) days prior to the hearing on them and had an opportunity to be heard in person or by counsel.    (b) In the event of the removal of any commissioner, a record of the proceedings, together with the charges and findings on them, shall be filed in the office of the clerk.
AR Code § 14-188-110 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 188 - Rural Development Authorities|§ 14-188-110. Issuance of bonds and other evidence of indebtedness

 (a)  (1)  (A) A rural development authority shall have power to issue bonds or other evidence of indebtedness from time to time, in its discretion, for any of its corporate purposes.  (B) Any authority shall also have power to issue refunding bonds for the purpose of paying or retiring bonds previously issued by it.    (2)  (A) An authority may issue these types of bonds as it may deem necessary, including bonds on which the principal and interest are payable:  (i) Exclusively from the income and revenues of the development project financed with the proceeds of the bonds, or with these proceeds together with a grant from the federal government in aid of the project;  (ii) Exclusively from the income and revenues of certain designated development projects, whether or not they were financed, in whole or in part, with the proceeds of the bonds; or  (iii) From its revenues generally.    (B) Any of the bonds may be additionally secured by a pledge of any revenues or a mortgage of any development project or other property of the authority.      (b)  (1) Neither the commissioners of an authority nor any person executing the bonds shall be liable personally on the bonds by reason of the issuance of them.  (2)  (A) The bonds and other evidence of indebtedness of an authority shall not be a debt of the city, county, the state, or any political subdivision thereof, and neither the city, the county, nor the state, nor any political subdivision thereof, shall be liable on them nor in any event shall such bonds or evidence of the indebtedness be payable out of any funds or properties other than those of the authority.  (B) The bonds shall not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction.
AR Code § 14-188-112 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 188 - Rural Development Authorities|§ 14-188-112. Form and sale of bonds, etc

 (a)  (1) Bonds or other evidence of indebtedness of a rural development authority shall be authorized by a resolution upon a vote of at least three (3) commissioners.  (2) As the resolution, its trust indenture, or mortgage may provide, the bonds:  (A) May be issued in one (1) or more series; and  (B) Shall:  (i) Bear such date or dates;  (ii) Mature at such time or times;  (iii) Bear interest at such rate or rates;  (iv) Be in such denomination or denominations;  (v) Be in such form, either coupon or registered;  (vi) Carry such conversion or registration privileges;  (vii) Have such rank or priority;  (viii) Be executed in such manner;  (ix) Be payable in such medium of payment, at such place or places; and  (x) Be subject to such terms of redemption, with or without premium.      (3)  (A) The bonds may be sold under such terms or conditions as the authority may require.  (B) Any provision of any law to the contrary notwithstanding, any bonds issued pursuant to this chapter shall be fully negotiable.      (b) In case any of the commissioners or officers of the authority whose signatures appear on any bonds shall cease to be commissioners or officers before the delivery of the bonds, their signatures shall, nevertheless, be valid and sufficient for all purposes, the same as if the commissioners or officers had remained in office until the delivery.  (c) In any suit, action, or proceedings involving the validity or enforceability of any bond of an authority, or the security for it, any such bond reciting in substance that it has been issued by the authority to aid in financing a rural development project shall be conclusively deemed to have been issued for a development project of such character and the project shall be conclusively deemed to have been planned, located, and constructed in accordance with the purposes and provisions of this chapter.
AR Code § 14-188-113 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 188 - Rural Development Authorities|§ 14-188-113. Validation of indebtedness

 All outstanding loans and their evidences of indebtedness obtained and processed under the provisions of this chapter are validated, ratified, and confirmed. These evidences of debt are, respectively, found and declared to be valid and subsisting obligations of the makers in accordance with the terms of them.
AR Code § 14-188-114 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 188 - Rural Development Authorities|§ 14-188-114. Remedies of obligees

 An obligee of a rural development authority shall have the right, in addition to all other rights which may be conferred upon the obligee, subject only to any contractual restrictions binding upon the obligee, by:   (1) Mandamus, suit, action, or proceeding, at law or in equity, to compel the authority, and the commissioners, officers, agents, or employees of it, to perform each and every term, provision, and covenant contained in any contract of the authority with or for the benefit of the obligee, and to require the carrying out of any or all such covenants and agreements of the authority and the fulfillment of all duties imposed upon the authority by this chapter; or  (2) Suit, action, or proceeding in equity, to enjoin any acts or things which may be unlawful, or the violation of any of the rights of the obligee of the authority.
AR Code § 14-188-115 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 188 - Rural Development Authorities|§ 14-188-115. Additional remedies conferrable on obligees

 A rural development authority shall have power, by its resolution, trust indenture, mortgage, lease, or other contract, to confer upon any obligee holding or representing a specified amount in bonds or other evidence of indebtedness the right, in addition to all rights that may otherwise be conferred, upon the happening of an event of default as defined in the resolution or instrument, by suit, action, or proceeding in any court of competent jurisdiction, to:   (1) Cause possession of any development project, or any part of it, to be surrendered to any obligee;  (2) Obtain the appointment of a receiver of any development project of the authority, or any part of it, and of the rents and profits from it. If a receiver is appointed, he may enter and take possession of the project, or any part of it, and operate and maintain it, collect and receive all fees, rents, revenues, or other charges thereafter arising from it, and shall keep the moneys in a separate account and apply them in accordance with the obligations of the authority, as the court shall direct; and  (3) Require the authority and the commissioners of it to account as if it and they were the trustees of an express trust.
AR Code § 14-188-116 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 188 - Rural Development Authorities|§ 14-188-116. Exemption from lien and execution sale

 (a) All real property of a rural development authority shall be exempt from levy and sale by virtue of an execution. No execution or other judicial process shall issue against it, nor shall any judgment against an authority be a charge or lien upon its real property.  (b) The provisions of this section shall not apply to or limit the right of obligees to foreclose or otherwise enforce any mortgage of any authority or the right of obligees to pursue any remedies for the enforcement of any pledge or lien given by an authority on its rents, fees, or revenues.
AR Code § 14-188-117 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities|Chapter 188 - Rural Development Authorities|§ 14-188-117. Exemption from taxes or assessments

 (a)  (1) The property of a rural development authority is declared to be public property used for essential and exclusively public and governmental purposes and not for profit.  (2) The property and income from notes and bonds issued by an authority shall be exempt from all taxes, including state income taxes, and special assessments of the state or any state public body.    (b)  (1) In lieu of taxes or special assessments, an authority may agree to make payments to a state public body for improvements, services, and facilities furnished by the state public body for the benefit of a development project.  (2) In no event shall these payments exceed the estimated cost to the state public body of the improvements, services, or facilities to be furnished.