reglab/statecodes huggingface dataset:
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 4 - MOTOR VEHICULAR TRAFFIC (§§ 27-49-101 — 27-54-101) › Chapter 53 - ACCIDENTS (§§ 27-53-101 — 27-53-405) › Subchapter 3 - INVESTIGATIONS (§§ 27-53-301 — 27-53-307) › Section 27-53-303 - Jurisdiction and responsibilities of law enforcement officers

(a)
Within their jurisdictions, and cooperatively in overlapping jurisdictional situations such as the state highway extensions within municipal corporations, law enforcement officers of Arkansas are declared to be responsible for the investigation and reporting of all traffic accidents and the deaths, injuries, and property damage resulting therefrom.
(b)
These responsibilities shall be generally as outlined:
(1)
The federal interstate system - The Division of Arkansas State Police;
(2)
The state highway system - The Division of Arkansas State Police and, within municipal corporations, the municipal police, except that the Division of Arkansas State Police may investigate accidents on all streets, county roads, and state highways;
(3)
The municipal streets within the boundaries of a municipal corporation which are not a part of the state highway system - The municipal police in cities of the first and second class and the municipal police or the county sheriff's department in all other municipalities; and
(4)
The county road system - The sheriff of that county.
(c)
The responsible investigating office shall make the investigation with all possible promptness, and the investigating officer shall file the report with the Division of Arkansas State Police within five (5) days subsequent to the actual investigation.
Amended by Act 2021, No. 395,§ 1, eff. 7/28/2021.
Acts 1967, No. 246, § 3; A.S.A. 1947, § 75-924; Acts 1989, No. 489, § 3.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 4 - MOTOR VEHICULAR TRAFFIC (§§ 27-49-101 — 27-54-101) › Chapter 53 - ACCIDENTS (§§ 27-53-101 — 27-53-405) › Subchapter 3 - INVESTIGATIONS (§§ 27-53-301 — 27-53-307) › Section 27-53-304 - Report forms

All traffic accident investigation reports shall be made upon forms prescribed, approved, and supplied by the Division of Arkansas State Police, with the concurrence of the Arkansas Department of Transportation.
Amended by Act 2017, No. 707,§ 358, eff. 8/1/2017.
Amended by Act 2015, No. 706,§ 3, eff. 7/22/2015.
Acts 1967, No. 246, § 4; A.S.A. 1947, § 75-925; Acts 1989, No. 489, § 4.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 4 - MOTOR VEHICULAR TRAFFIC (§§ 27-49-101 — 27-54-101) › Chapter 53 - ACCIDENTS (§§ 27-53-101 — 27-53-405) › Subchapter 3 - INVESTIGATIONS (§§ 27-53-301 — 27-53-307) › Section 27-53-305 - Reports to be public records

(a)
Except as provided under §
27-53-202(b)(2)(B)
, all traffic accident investigating officers' reports are public records and open to public inspection at all reasonable times.
(b)
Photostatic or written copies of the reports may be obtained from the Division of Arkansas State Police in the same manner and for the same fees as prescribed by §
27-53-210
for the motor vehicle accident reports made by members of the division.
Amended by Act 2013, No. 1229,§ 6, eff. 1/1/2015.
Acts 1967, No. 246, § 5; A.S.A. 1947, § 75-926.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 4 - MOTOR VEHICULAR TRAFFIC (§§ 27-49-101 — 27-54-101) › Chapter 53 - ACCIDENTS (§§ 27-53-101 — 27-53-405) › Subchapter 3 - INVESTIGATIONS (§§ 27-53-301 — 27-53-307) › Section 27-53-306 - Notification to landowners

In instances where a motor vehicle leaves a road or highway and damages the fence or other attachment to real property, the investigating officer shall notify the landowner of the accident and damage.
Acts 1981, No. 498, § 1; A.S.A. 1947, § 75-929.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 4 - MOTOR VEHICULAR TRAFFIC (§§ 27-49-101 — 27-54-101) › Chapter 53 - ACCIDENTS (§§ 27-53-101 — 27-53-405) › Subchapter 3 - INVESTIGATIONS (§§ 27-53-301 — 27-53-307) › Section 27-53-307 - Accident response service fee - Definitions

(a)
As used in this section:
(1)
"Accident response service fee" means a fee imposed for the response or investigation of a motor vehicle accident by a law enforcement agency; and
(2)
"Entity" means:
(A)
The state;
(B)
A political subdivision of the state, including:
(i)
A county;
(ii)
A city;
(iii)
A borough;
(iv)
An incorporated town;
(v)
A township; or
(vi)
A home-ruled municipality; and
(C)
Any governmental entity or agency or department of a governmental entity or agency.
(b)
Notwithstanding any provision of law to the contrary, a person or entity shall not impose an accident response service fee on or from an insurance company, the driver or owner of a motor vehicle, or any other person.
Acts 2009, No. 973, § 1.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 4 - MOTOR VEHICULAR TRAFFIC (§§ 27-49-101 — 27-54-101) › Chapter 53 - ACCIDENTS (§§ 27-53-101 — 27-53-405) › Subchapter 4 - DAMAGE CLAIMS (§§ 27-53-401 — 27-53-405) › Section 27-53-401 - Measure of damages to motor vehicles

In all cases involving damage to motor vehicles, the measure of damages shall be the difference between the value of the vehicle immediately before the damage occurred and the value after the damage occurred, plus a reasonable amount of damages for loss of use of the vehicle.
Acts 1975, No. 643, § 1; A.S.A. 1947, § 75-919.1.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 4 - MOTOR VEHICULAR TRAFFIC (§§ 27-49-101 — 27-54-101) › Chapter 53 - ACCIDENTS (§§ 27-53-101 — 27-53-405) › Subchapter 4 - DAMAGE CLAIMS (§§ 27-53-401 — 27-53-405) › Section 27-53-402 - Failure to pay small damage claims

(a)
In all cases wherein loss or damage occurs to property resulting from motor vehicle collision amounting to one thousand dollars ($1,000) or less, and the defendant liable, without meritorious defense, shall fail to pay the loss or damage within sixty (60) days after written notice of the claim has been received, then the defendant shall be liable to pay the person entitled thereto double the amount of the loss or damage, together with a reasonable attorney's fee, which shall not be less than two hundred fifty dollars ($250), and court costs.
(b)
This liability, which is limited to damage to property, attaches when liability is denied and suit is filed.
Acts 1957, No. 283, § 1; 1981, No. 800, § 1; A.S.A. 1947, § 75-918; Acts 1987, No. 70, § 1.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 4 - MOTOR VEHICULAR TRAFFIC (§§ 27-49-101 — 27-54-101) › Chapter 53 - ACCIDENTS (§§ 27-53-101 — 27-53-405) › Subchapter 4 - DAMAGE CLAIMS (§§ 27-53-401 — 27-53-405) › Section 27-53-403 - Payment of damage claim not admissible in personal injury action

The fact of payment of any property damage claim under this subchapter is not admissible in evidence, nor shall it be referred to in any way in any personal injury action arising from the same accident.
Acts 1957, No. 283, § 3; A.S.A. 1947, § 75-920.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 4 - MOTOR VEHICULAR TRAFFIC (§§ 27-49-101 — 27-54-101) › Chapter 53 - ACCIDENTS (§§ 27-53-101 — 27-53-405) › Subchapter 4 - DAMAGE CLAIMS (§§ 27-53-401 — 27-53-405) › Section 27-53-404 - Liability coverage for dealer vehicles used in driver education required

(a)
No automobile dealer who furnishes a motor vehicle to the public schools of this state for use in a driver education program shall be held legally responsible for any injuries or property damages which result from an accident involving the dealer-owned motor vehicle during its use in a driver education program.
(b)
(1)
Any school district in this state using any such automobile in a driver education program shall purchase liability insurance covering the operation of the vehicle.
(2)
The liability insurance shall be at least within the minimum requirements of the Motor Vehicle Safety Responsibility Act, §
27-19-101
et seq.
Acts 1963, No. 199, § 1; A.S.A. 1947, § 75-921.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 4 - MOTOR VEHICULAR TRAFFIC (§§ 27-49-101 — 27-54-101) › Chapter 53 - ACCIDENTS (§§ 27-53-101 — 27-53-405) › Subchapter 4 - DAMAGE CLAIMS (§§ 27-53-401 — 27-53-405) › Section 27-53-405 - Funeral homes not liable for acts of private vehicle operators

(a)
It is the purpose and intent of this section to permit funeral homes to attach magnetic signs, pennants, or other identifying signs to privately owned automobiles in a funeral procession to identify the vehicles as part of the procession without assuming any liability or responsibility for acts of the operators of the private vehicles.
(b)
The operator of a private vehicle in a funeral procession who is not an employee of the funeral home in charge of the procession shall not be deemed to be an agent of the funeral home. The funeral home in charge of the procession shall not be liable for any action of the operator, notwithstanding the fact that the funeral home may have attached some form of temporary identification to the vehicle to indicate that the vehicle is a part of a funeral procession.
Acts 1973, No. 459, §§ 1, 2; A.S.A. 1947, §§ 75-927, 75-928.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 1 - MISCELLANEOUS PROVISIONS (§§ 27-64-101 — 27-64-104) › Section 27-64-101 - Air rights over highways, roads, and streets - Agreements with private property owners

The following are authorized to enter into leases, contracts, or other agreements with the owners of private property with respect to the owners' use of air rights over and above state highways, county roads, or streets of cities or towns, so long as the leases, contracts, or agreements do not impair the public use thereof and are not in violation of any federal requirement with respect to any federal-aid funds involved in the construction or improvement of the highways, roads, or streets:
(1)
The Arkansas Department of Transportation with respect to state highways;
(2)
The county court of each county with respect to county roads of each respective county; and
(3)
The governing bodies of cities and towns in this state with respect to city streets, alleys, and other public easements of cities and towns.
Amended by Act 2017, No. 707,§ 359, eff. 8/1/2017.
Acts 1967, No. 405, § 1; A.S.A. 1947, § 76-137.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 1 - MISCELLANEOUS PROVISIONS (§§ 27-64-101 — 27-64-104) › Section 27-64-102 - Gates and cattle guards

(a)
Whenever any landowner of this state shall present proof to the county court that his or her land is located in a section where the land is subject to overflow, upon a proper order being entered, the landowner shall be permitted to construct a gate or cattle guard across any road traversing such lands.
(b)
Before any order is entered under the provisions of this section, notice shall be given of the intention to file a petition by the landowner by inserting a notice in some newspaper in the county at least twenty (20) days before hearing is had upon the petition.
(c)
Petition for a permit to construct a gate or cattle guard under this section shall be verified and supported by affidavits of at least three (3) qualified electors living near the land affected that the lands are subject to overflow and that the road referred to is a road that is not paved or a state road in the highway system and will not greatly inconvenience the traveling public.
(d)
No gate or cattle guard under the provisions of this section shall be permitted or authorized which will greatly inconvenience large numbers of the traveling public, or over or across a state road in the highway system or a paved road. If after the gate or cattle guard is permitted, proof is shown that it is a hazard to the traveling public, it must be ordered removed.
(e)
The order of the court shall be a complete defense against any charge or indictment of the owner for obstructing the public highway by the erection and maintaining of a gate.
(f)
Any person who shall willfully leave open any gate erected and constructed in compliance with this section, which gate has been kept and maintained in good order and repair, shall be guilty of a misdemeanor, and upon conviction shall be fined in any sum not more than ten dollars ($10.00) for each offense.
Acts 1895, No. 74, § 3, p. 98; 1899, No. 180, § 1, p. 317; C. & M. Dig., § 5254; Acts 1937, No. 383, §§ 1-4; Pope's Dig., §§ 6978-6982; A.S.A. 1947, §§ 76-113 -- 76-117.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 1 - MISCELLANEOUS PROVISIONS (§§ 27-64-101 — 27-64-104) › Section 27-64-103 - Mowing, installing, and maintaining sprinkler system on rights-of-way by adjoining landowner

(a)
(1)
The owners of properties which abut the right-of-way of interstate, federal-aid primary, state, or county roads or highways in this state may enter upon and mow grass, weeds, and other vegetation on the portion of the right-of-way adjoining the property unless the Arkansas Department of Transportation or the county has installed barriers designed to prohibit entry or unless the property owner has received notice from the department or the county restricting or prohibiting mowing grass, weeds, and other vegetation.
(2)
The owner of a property which abuts a right-of-way of a state highway may, upon receipt of a permit from the department, install, use, and maintain a sprinkler system on the portion of the right-of-way adjoining the property unless the department has installed a barrier designed to prohibit entry.
(b)
If an owner elects to mow grass, weeds, or other vegetation or installs, uses, or maintains a sprinkler system on the right-of-way adjoining his or her property, the owner shall do so at the owner's own risk and shall have no right or claim for damages against the department or any political subdivision of this state for loss of life, injury, or damage to his or her property while engaged in the mowing activity, or the installation, use, or maintenance of the sprinkler system.
(c)
Subject to the limitations of subsections (a) and (b) of this section, the owner shall:
(1)
Mow the grass, weeds, or other vegetation and install, use, and maintain the sprinkler system in a manner that does not obstruct or pose danger to motorists in their lawful use of the public road or highway; and
(2)
Be liable for any loss, injury, or damage to the life, person, or property of others that is caused by any negligence in connection with mowing grass, weeds, or other vegetation or installing, using, or maintaining the sprinkler system on the highway right-of-way.
Amended by Act 2017, No. 707,§ 360, eff. 8/1/2017.
Amended by Act 2015, No. 963,§ 1, eff. 7/22/2015.
Acts 1983, No. 661, § 1; A.S.A. 1947, § 76-145.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 1 - MISCELLANEOUS PROVISIONS (§§ 27-64-101 — 27-64-104) › Section 27-64-104 - Priority of cases

All cases involving the validity of this act or any portion thereof, or in any way arising under this act, shall be deemed of public interest and shall be advanced by all courts and disposed of at the earliest possible moment. Appeals from judgments or decrees involving the validity of this act or any portion thereof must be taken and perfected within thirty (30) days after the rendition of the judgment or decree.
Acts 1929, No. 65, § 73; 1929, No. 205, § 3; 1933, No. 3, § 9; Pope's Dig., §§ 6484, 6919, 6964; A.S.A. 1947, §§ 76-208, 76-512, 76-519.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 2 - ARKANSAS HIGHWAY FINANCING ACT OF 1999 (§§ 27-64-201 — 27-64-214) › Section 27-64-201 - Title

This subchapter may be referred to and cited as the "Arkansas Highway Financing Act of 1999".
Acts 1999, No. 1027, § 1.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 2 - ARKANSAS HIGHWAY FINANCING ACT OF 1999 (§§ 27-64-201 — 27-64-214) › Section 27-64-202 - Legislative findings

(a)
The General Assembly of the State of Arkansas has determined that there is an immediate need for highway improvements as defined in this subchapter throughout the State of Arkansas in order to provide for the health, safety, and welfare of its citizens and to promote economic development within the state.
(b)
The General Assembly has determined that current funding sources for highway improvements are inadequate to meet the needs of the state and that the best way to accomplish such improvements expeditiously is through the issuance of federal highway grant anticipation and tax revenue bonds to finance such highway improvements.
(c)
The General Assembly has further determined that the bonds should be payable from certain designated revenues, including federal highway assistance funding and the proceeds of an increase in the excise tax on diesel fuel and that the repayment of such bonds should also be guaranteed by the full faith and credit of the state.
Acts 1999, No. 1027, § 1.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 2 - ARKANSAS HIGHWAY FINANCING ACT OF 1999 (§§ 27-64-201 — 27-64-214) › Section 27-64-203 - Definitions

The following terms, as used in this subchapter, shall have the meanings set forth in this section:
(1)
"Act" means this Arkansas Highway Financing Act of 1999, §
27-64-201
et seq.;
(2)
"Bonds" means the "State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds" or "GARVEE bonds", as authorized in this subchapter;
(3)
"Commission" means the State Highway Commission, created and existing pursuant to Arkansas Constitution, Amendment 42;
(4)
"Debt service" means all amounts required for the payment of principal, interest on, and premium, if any, due with respect to the bonds in any fiscal year along with all associated costs, including the fees and costs of paying agents and trustees, remarketing agent fees, credit enhancement costs, and other amounts necessary in connection with the bonds;
(5)
"Designated revenues" means:
(A)
That portion designated by the commission of funds received or to be received from the United States Government as federal highway assistance funding allocated to the state designated as federal highway interstate maintenance funds, and, if needed, that portion of national highway system funds authorized by State Highway Commission Minute Order 98-214 adopted September 22, 1998; and
(B)
Revenues derived from the increase in taxes levied on distillate special fuels pursuant to §
26-56-201
and transferred to the State Highway and Transportation Department Fund pursuant to §
27-70-207(d)
in accordance with §§
26-56-201
and
26-55-1006
; and
(6)
"Highway improvements" or "highway improvement projects" means restoration and improvements to all of the interstate highway systems within the state, including roadways, bridges, or right-of-way under the jurisdiction of the commission and shall also include the acquisition, construction, reconstruction, and renovation of such interstate system and facilities appurtenant or pertaining thereto.
Acts 1999, No. 1027, § 2; 2011, No. 752, § 3.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 2 - ARKANSAS HIGHWAY FINANCING ACT OF 1999 (§§ 27-64-201 — 27-64-214) › Section 27-64-204 - Authorization - Purposes

The State Highway Commission is hereby authorized, subject to the approval of the voters in a statewide election, to issue bonds to be known as State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds in a total principal amount not to exceed five hundred seventy-five million dollars ($575,000,000) for the purpose of:
(1)
Accelerating certain highway improvement projects already underway or scheduled;
(2)
Funding new highway improvement projects;
(3)
Financing the restoration, reconstruction, and renovation of highway improvements within the State of Arkansas; and
(4)
Paying the costs of issuance of the bonds, including the costs of bond issuance or other credit enhancement.
Acts 1999, No. 1027, § 3.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 2 - ARKANSAS HIGHWAY FINANCING ACT OF 1999 (§§ 27-64-201 — 27-64-214) › Section 27-64-205 - Projects to be financed

(a)
The State Highway Commission shall prepare and distribute to the Governor a report setting forth the specific highway improvement projects which would be financed if all of the authorized bonds were to be issued and the estimated cost of each project.
(b)
Upon receipt of the report described in subsection (a) of this section, the Governor shall, if he or she deems it to be in the public interest, by proclamation call an election on the question of issuing the bonds.
(c)
The report of projects described in subsection (a) of this section may be modified by the commission from time to time in accordance with Arkansas Constitution, Amendment 42.
Acts 1999, No. 1027, § 4.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 2 - ARKANSAS HIGHWAY FINANCING ACT OF 1999 (§§ 27-64-201 — 27-64-214) › Section 27-64-207 - Procedure for issuing bonds

(a)
Prior to the issuance of any series of bonds, the State Highway Commission shall adopt a resolution authorizing the issuance of such series of bonds. Each such resolution shall contain such terms, covenants, and conditions as are deemed desirable and consistent with this subchapter, including without limitation those pertaining to the establishment and maintenance of funds and accounts, the deposit and investment of the federal highway assistance payments and bond proceeds, and the rights and obligations of the state, its officers and officials, the commission, and the registered owners of the bonds.
(b)
The resolutions of the commission may provide for the execution and delivery by the commission of a trust indenture or trust indentures with one (1) or more banks or trust companies located within or without the state, containing any of the terms, covenants, and conditions referred to above and such other terms and conditions deemed necessary by the commission, which trust indenture or trust indentures shall be binding upon the commission and the state and their respective officers and officials.
Acts 1999, No. 1027, § 6.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 2 - ARKANSAS HIGHWAY FINANCING ACT OF 1999 (§§ 27-64-201 — 27-64-214) › Section 27-64-208 - Terms of bonds

The bonds shall be subject to the following terms and conditions:
(1)
The bonds shall be issued in series, as set forth herein, in amounts sufficient to finance all or part of the costs of construction and maintenance of highway improvements described in §
27-64-205
, with the respective series to be designated by the year in which issued and, if more than one (1) series is to be issued in a particular year, by alphabetical designation;
(2)
The bonds of each series shall have such date or dates as the State Highway Commission shall determine and shall mature or be subject to mandatory sinking fund redemption over a period ending not later than twelve (12) years after the date of issue of each series;
(3)
(A)
The bonds of each series shall bear interest at the rate or rates determined by the commission at the sale of the bonds. The bonds may bear interest at either a fixed or a variable rate or may be convertible from one interest rate mode to another.
(B)
Such interest shall be payable at such times as the commission shall determine;
(4)
The bonds shall be issued in the form of bonds registered as to both principal and interest without coupons, may be in such denominations and may be made exchangeable for bonds of another form or denomination bearing the same rate of interest, may be made payable at such places within or without the state, may be made subject to redemption prior to maturity in such manner and for such redemption prices, and may contain such other terms and conditions all as the commission shall determine; and
(5)
(A)
Each bond shall be executed with the facsimile signatures of the Chair of the State Highway Commission and the secretary of the commission and shall have affixed or imprinted thereon the seal of the commission.
(B)
Delivery of the bonds so executed shall be valid notwithstanding any change in the persons holding such offices occurring after the bonds have been executed.
Acts 1999, No. 1027, § 7.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 2 - ARKANSAS HIGHWAY FINANCING ACT OF 1999 (§§ 27-64-201 — 27-64-214) › Section 27-64-209 - Sale of bonds - Employment of professionals

(a)
The bonds may be sold at a price acceptable to the State Highway Commission, which price may include a discount or a premium.
(b)
(1)
The bonds may be sold in such manner, either at private or public sale, and upon such terms as the commission shall determine to be reasonable and expedient for effecting the purposes of this subchapter.
(2)
(A)
If the bonds are to be sold at public sale, the commission shall give notice of the offering of such bonds in a manner reasonably designed to notify participants in the public finance industry that such offering is being made.
(B)
The commission shall set the terms and conditions of bidding, including the basis on which the winning bid will be selected.
(c)
(1)
The commission is authorized to structure the sale of bonds utilizing such financing techniques as are recommended by its professional advisors in order to take advantage of market conditions and obtain the most favorable interest rates consistent with the purposes of this subchapter.
(2)
In furtherance of this authorization, the commission may enter into such ancillary agreements in connection with the sale of the bonds as it deems necessary and advisable, including, without limitation, bond purchase agreements, remarketing agreements, and letters of credit and reimbursement agreements.
(d)
The commission is authorized to retain such professionals as it deems necessary to accomplish the issuance and sale of the bonds, including, without limitation, legal counsel, financial advisors, underwriters, trustees, paying agents, and remarketing agents.
Acts 1999, No. 1027, §§ 8, 9.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 2 - ARKANSAS HIGHWAY FINANCING ACT OF 1999 (§§ 27-64-201 — 27-64-214) › Section 27-64-210 - Investment of proceeds

Any designated revenues and any proceeds of bonds held pending disbursement on highway improvements shall be invested by the State Highway Commission to the full extent practicable pending disbursement for the purposes intended. Notwithstanding any other provision of law, such investments shall be in accordance with the terms of the resolution or trust indenture authorizing or securing the series of bonds to which the designated revenues or bond proceeds appertain to the extent that the terms of such resolution or trust indenture are applicable.
Acts 1999, No. 1027, § 11.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 2 - ARKANSAS HIGHWAY FINANCING ACT OF 1999 (§§ 27-64-201 — 27-64-214) › Section 27-64-211 - Sources of repayment

(a)
(1)
The bonds shall be general obligations of the State of Arkansas secured and payable from the designated revenues, as defined herein, and the general revenues of the state.
(2)
The bonds will be payable first from certain designated revenues, specifically:
(A)
That portion designated by the State Highway Commission of funds received or to be received from the United States Government as federal highway assistance funding allocated to the state designated as federal highway interstate maintenance funds, and, if needed, that portion of national highway system funds authorized by State Highway Commission Minute Order 98-214 adopted September 22, 1998; and
(B)
Revenues derived from the increase in taxes levied on distillate special fuels pursuant to §
26-56-201
and transferred to the State Highway and Transportation Department Fund pursuant to §
27-70-207(d)
in accordance with §
26-55-1006(d)
and §
26-56-201(f)
.
(3)
To the extent that designated revenues are insufficient to make timely payment of debt service on the bonds, such payment shall be made from the general revenues of the State of Arkansas.
(b)
In order to secure the payment of debt service, any trust instrument, resolution, or other document setting forth the security for the bondholders may provide for the direct payment of the federal highway assistance funds that are designated revenues directly into a trust fund or to a paying agent for the payment of debt service on the bonds, and it shall not be necessary for such funds to be deposited with the State Treasury.
Acts 1999, No. 1027, § 10; 2011, No. 752, § 6.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 2 - ARKANSAS HIGHWAY FINANCING ACT OF 1999 (§§ 27-64-201 — 27-64-214) › Section 27-64-212 - Refunding bonds

(a)
The State Highway Commission may issue bonds for the purpose of refunding bonds previously issued pursuant to this subchapter, provided, however, that the total amount of bonds outstanding after the refunding is completed does not exceed the total amount authorized by this subchapter.
(b)
Such refunding bonds shall be special obligations of the State of Arkansas, secured as set forth in this subchapter, and shall be secured and sold in accordance with the provisions of this subchapter.
Acts 1999, No. 1027, § 12.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 2 - ARKANSAS HIGHWAY FINANCING ACT OF 1999 (§§ 27-64-201 — 27-64-214) › Section 27-64-213 - Powers of commission

(a)
All powers granted to the State Highway Commission pursuant to this subchapter shall be deemed in addition to such powers as already exist pursuant to Arkansas Constitution, Amendment 42 and the laws of the State of Arkansas.
(b)
No member of the commission shall be liable personally for any reason arising from the issuance of bonds pursuant to this subchapter unless such person shall have acted with corrupt intent.
Acts 1999, No. 1027, § 14.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 2 - ARKANSAS HIGHWAY FINANCING ACT OF 1999 (§§ 27-64-201 — 27-64-214) › Section 27-64-214 - Tax exemption

(a)
All bonds issued under this subchapter and interest thereon shall be exempt from all taxes of the State of Arkansas, including income, inheritance, and property taxes.
(b)
The bonds shall be eligible to secure deposits of all public funds and shall be legal for investment of municipal, county, bank, fiduciary, insurance company, and trust funds.
Acts 1999, No. 1027, § 13.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 3 - ARKANSAS INTERSTATE HIGHWAY FINANCING ACT OF 2005 (§§ 27-64-301 — 27-64-314) › Section 27-64-301 - Title

This subchapter may be referred to and cited as the "Arkansas Interstate Highway Financing Act of 2005".
Acts 2005, No. 685, § 1.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 3 - ARKANSAS INTERSTATE HIGHWAY FINANCING ACT OF 2005 (§§ 27-64-301 — 27-64-314) › Section 27-64-302 - Legislative findings and intent

The General Assembly finds that:
(1)
There is an immediate need for highway improvements throughout the State of Arkansas in order to provide for the health, safety, and welfare of its citizens and to promote economic development within the state;
(2)
Through the revenues generated under the Arkansas Highway Financing Act of 1999, §
27-64-201
et seq., the State Highway Commission has been successful in completing the rehabilitation of much of the state's interstate highway system and that the rehabilitation has been carried out in an efficient, cost-effective manner;
(3)
Continued improvement of the interstate highway system is necessary and that the best way to accomplish the improvement expeditiously is through the issuance of additional federal highway grant anticipation and tax revenue bonds to finance highway improvements;
(4)
The bonds should be payable from revenues currently designated by the Arkansas Highway Financing Act of 1999, §
27-64-201
et seq., including federal highway assistance funding and available proceeds from the distillate special fuels tax levied under §
26-56-201(e)
; and
(5)
The repayment of the bonds shall also be guaranteed by the full faith and credit of the state.
Acts 2005, No. 685, § 1.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 3 - ARKANSAS INTERSTATE HIGHWAY FINANCING ACT OF 2005 (§§ 27-64-301 — 27-64-314) › Section 27-64-303 - Definitions

As used in this subchapter:
(1)
"Bonds" means the State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds, also known as "GARVEE bonds", as authorized in this subchapter;
(2)
"Commission" means the State Highway Commission;
(3)
"Debt service" means all amounts required for the payment of principal, interest, and premium, if any, due with respect to the bonds in any fiscal year along with all associated costs, including the fees and costs of paying agents and trustees, remarketing agent fees, credit enhancement costs, and other amounts necessary in connection with the bonds;
(4)
"Designated revenues" means:
(A)
The portion designated by the commission of funds received or to be received from the United States Government as federal highway assistance funding allocated to the state designated as federal highway interstate maintenance funds; and
(B)
Revenues derived from the distillate special fuels tax levied under §
26-56-201(e)
that are available for expenditure after any distributions required by the Arkansas Highway Financing Act of 1999, §
27-64-201
et seq.; and
(5)
"Highway improvements" or "highway improvement projects" means restoration and improvements to all of the interstate highway systems within the state, including roadways, bridges, or rights-of-way under the jurisdiction of the commission and includes the acquisition, construction, reconstruction, and renovation of the interstate system and facilities appurtenant or pertaining to the system.
Acts 2005, No. 685, § 1.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 3 - ARKANSAS INTERSTATE HIGHWAY FINANCING ACT OF 2005 (§§ 27-64-301 — 27-64-314) › Section 27-64-304 - Authorization - Purposes

(a)
Subject to the one-time approval of the voters in a statewide election, the State Highway Commission may issue State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds from time to time if the total principal amount outstanding from the issuance of the bonds, together with the total principal amount outstanding from the issuance of bonds pursuant to the Arkansas Highway Financing Act of 1999, §
27-64-201
et seq., does not at any time exceed five hundred seventy-five million dollars ($575,000,000).
(b)
The purpose of the bond issuance shall be:
(1)
Accelerating interstate highway improvement projects already underway or scheduled;
(2)
Funding new interstate highway improvement projects;
(3)
Financing the restoration, reconstruction, and renovation of interstate highway improvements within the State of Arkansas; and
(4)
Paying the costs of issuance of the bonds or other credit enhancement.
Acts 2005, No. 685, § 1.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 3 - ARKANSAS INTERSTATE HIGHWAY FINANCING ACT OF 2005 (§§ 27-64-301 — 27-64-314) › Section 27-64-306 - Procedure for issuing State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds

(a)
Prior to the issuance of any series of State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds, the State Highway Commission shall adopt a resolution authorizing the issuance of the series of bonds.
(b)
Each resolution shall contain those terms, covenants, and conditions as are deemed desirable and consistent with this subchapter, including, without limitation, those pertaining to the establishment and maintenance of funds and accounts, the deposit and investment of the federal highway assistance payments and bond proceeds, and the rights and obligations of the state, its officers and officials, the commission, and the registered owners of the bonds.
(c)
The resolutions of the commission may provide for the execution and delivery by the commission of a trust indenture or trust indentures with one (1) or more banks or trust companies located within or without the state, containing any of the terms, covenants, and conditions required under subsection (b) of this section, and any other terms and conditions deemed necessary by the commission. The trust indenture or trust indentures shall be binding upon the commission and the state and their respective officers and officials.
Acts 2005, No. 685, § 1.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 3 - ARKANSAS INTERSTATE HIGHWAY FINANCING ACT OF 2005 (§§ 27-64-301 — 27-64-314) › Section 27-64-307 - Terms of bonds

The State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds shall be subject to the following terms and conditions:
(1)
The bonds shall be issued in series in amounts sufficient to finance all or part of the costs of construction and maintenance of highway improvements. The respective series of bonds shall be designated by the year in which the bonds are issued. If more than one (1) series of bonds is to be issued in a particular year, the series shall be designated alphabetically;
(2)
The bonds of each series shall have the date or dates as the State Highway Commission shall determine. The bonds shall mature or be subject to mandatory sinking fund redemption over a period ending not later than twelve (12) years after the date of issue of each series;
(3)
The bonds of each series shall bear interest at the rate or rates determined by the commission at the sale of the bonds. The bonds may bear interest at either a fixed or a variable rate or may be convertible from one (1) interest rate mode to another. The interest shall be payable at the times as the commission shall determine;
(4)
The bonds shall be issued in the form of bonds registered as to both principal and interest without coupons;
(5)
The commission shall determine:
(A)
The denominations of the bonds;
(B)
Whether the bonds may be made exchangeable for bonds of another form or denomination bearing the same rate of interest;
(C)
When the bonds may be made payable and the places within or without the state where the bonds may be payable;
(D)
Whether the bonds may be made subject to redemption prior to maturity and the manner of and prices for redemption; and
(E)
Any other terms and conditions; and
(6)
Each bond shall be executed with the facsimile signatures of the Chair of the State Highway Commission and the secretary of the commission, and the seal of the commission shall be affixed or imprinted on the bond. Delivery of executed bonds shall be valid, notwithstanding any change in the persons holding the offices that occurs after the bonds have been executed.
Acts 2005, No. 685, § 1.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 3 - ARKANSAS INTERSTATE HIGHWAY FINANCING ACT OF 2005 (§§ 27-64-301 — 27-64-314) › Section 27-64-308 - Sale of bonds

(a)
(1)
The State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds may be sold in any manner, either at private or public sale, and upon terms as the State Highway Commission shall determine to be reasonable and expedient for effecting the purposes of this subchapter.
(2)
The bonds may be sold at a price acceptable to the commission. The price may include a discount or premium.
(b)
(1)
If the bonds are to be sold at public sale, the commission shall give notice of the offering of the bonds in a manner reasonably designed to notify participants in the public finance industry that the offering is being made.
(2)
The commission shall set the terms and conditions of bidding, including the basis on which the winning bid will be selected.
(c)
The commission may structure the sale of bonds utilizing financing techniques that are recommended by the commission's professional advisors in order to take advantage of market conditions and to obtain the most favorable interest rates consistent with the purposes of this subchapter.
(d)
The commission may enter into any ancillary agreements in connection with the sale of the bonds as it deems necessary and advisable, including, without limitation, bond purchase agreements, remarketing agreements, and letter of credit reimbursement agreements.
Acts 2005, No. 685, § 1; 2007, No. 827, § 238.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 3 - ARKANSAS INTERSTATE HIGHWAY FINANCING ACT OF 2005 (§§ 27-64-301 — 27-64-314) › Section 27-64-309 - Employment of professionals

The State Highway Commission may retain any professionals it deems necessary to accomplish the issuance and sale of the State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds, including, without limitation, legal counsel, financial advisors, underwriters, trustees, paying agents, and remarketing agents.
Acts 2005, No. 685, § 1.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 3 - ARKANSAS INTERSTATE HIGHWAY FINANCING ACT OF 2005 (§§ 27-64-301 — 27-64-314) › Section 27-64-310 - Sources of repayment

(a)
The State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds shall be general obligations of the State of Arkansas secured and payable from the designated revenues and the general revenues of the state.
(b)
The bonds shall be payable first from the following designated revenues:
(1)
The portion designated by the State Highway Commission of funds received or to be received from the United States Government as federal highway assistance funding allocated to the state and designated as federal highway interstate maintenance funds; and
(2)
Revenues derived from the distillate special fuels tax levied under §
26-56-201(e)
that are available for expenditure after any distributions required by the Arkansas Highway Financing Act of 1999, §
27-64-201
et seq.
(c)
If the amount of designated revenues is insufficient to make timely payment of debt service on the bonds, the payment shall be made from the general revenues of the State of Arkansas.
(d)
In order to secure the payment of debt service, any trust instrument, resolution, or other document setting forth the security for the bondholders may provide for the direct payment of the federal highway assistance funds that are designated revenues directly into a trust fund or to a paying agent for the payment of debt service on the bonds. It shall not be necessary for the funds to be deposited into the State Treasury.
Acts 2005, No. 685, § 1.
Arkansas Code of 1987 (2023) › Title 27 - TRANSPORTATION (§§ 27-1-101 — 27-117-105) › Subtitle 5 - HIGHWAYS, ROADS, AND STREETS (§§ 27-64-101 — 27-76-713) › Chapter 64 - GENERAL PROVISIONS (§§ 27-64-101 — 27-64-514) › Subchapter 3 - ARKANSAS INTERSTATE HIGHWAY FINANCING ACT OF 2005 (§§ 27-64-301 — 27-64-314) › Section 27-64-311 - Investment of proceeds

(a)
Any designated revenues and any proceeds of the State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds held pending disbursement on highway improvements shall be invested by the State Highway Commission to the full extent practicable pending disbursement for the purposes intended.
(b)
Notwithstanding any other provision of law, the investments shall be in accordance with the terms of the resolution or trust indenture authorizing or securing the series of bonds to which the designated revenues or bond proceeds appertain to the extent that the terms of the resolution or trust indenture are applicable.
Acts 2005, No. 685, § 1.