reglab/statecodes huggingface dataset:
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 3 - MUNICIPAL GOVERNMENT (§§ 14-37-101 — 14-62-115) › Chapter 62 - REVOCATION OF CHARTER OF A MUNICIPAL CORPORATION (§§ 14-62-101 — 14-62-115) › Section 14-62-111 - Collection of sales and use taxes

(a)
If a receiver is appointed under §
14-62-104
, sales and use taxes of the extinct municipal corporation shall continue to be collected in the manner provided by law by the Department of Finance and Administration, with the collections paid to the receiver for the benefit of the extinct municipal corporation.
(b)
At the time a final order of dissolution is entered under §
14-62-114
, the collection of sales and use taxes of the extinct municipal corporation shall cease, except as otherwise provided under this chapter.
(c)
Delinquent sales and use taxes of the extinct municipal corporation shall continue to be collected in the manner provided by law, and the Department of Finance and Administration and the receiver shall cooperate in the collection of the delinquent sales and use taxes.
Added by Act 2017, No. 712,§ 3, eff. 8/1/2017.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 3 - MUNICIPAL GOVERNMENT (§§ 14-37-101 — 14-62-115) › Chapter 62 - REVOCATION OF CHARTER OF A MUNICIPAL CORPORATION (§§ 14-62-101 — 14-62-115) › Section 14-62-112 - Filing of claims - Appeals

(a)
(1)
If a party is dissatisfied with the decision of any litigated question under this chapter, he or she may have the question reheard upon appeal to the Supreme Court.
(2)
Only so much of the record as pertains to the appeal shall form the transcript and record for the appeal.
(b)
(1)
Except as provided under subdivision (b)(2) of this section, the costs shall be paid by the parties to the appeal as the Supreme Court may direct.
(2)
If the receiver appointed under §
14-62-104
is a party to the litigation on behalf of creditors generally, the costs may be charged to the whole or to some particular fund if the Supreme Court deems proper and as right and justice may require.
Added by Act 2017, No. 712,§ 3, eff. 8/1/2017.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 3 - MUNICIPAL GOVERNMENT (§§ 14-37-101 — 14-62-115) › Chapter 62 - REVOCATION OF CHARTER OF A MUNICIPAL CORPORATION (§§ 14-62-101 — 14-62-115) › Section 14-62-113 - Payment of funds collected

Funds collected under this chapter shall be paid out from time to time to those entitled to the funds and in such manner as the circuit court of the Sixth Judicial District may determine, on the warrant of the receiver appointed under §
14-62-104
and countersigned by the judge of the circuit court.
Added by Act 2017, No. 712,§ 3, eff. 8/1/2017.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 3 - MUNICIPAL GOVERNMENT (§§ 14-37-101 — 14-62-115) › Chapter 62 - REVOCATION OF CHARTER OF A MUNICIPAL CORPORATION (§§ 14-62-101 — 14-62-115) › Section 14-62-114 - Final order of dissolution

At the time of the full accord and satisfaction of the indebtedness of the municipal corporation whose charter is revoked under this chapter and upon the request of the receiver, the circuit court of the Sixth Judicial District shall enter a final order of dissolution.
Added by Act 2017, No. 712,§ 3, eff. 8/1/2017.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 3 - MUNICIPAL GOVERNMENT (§§ 14-37-101 — 14-62-115) › Chapter 62 - REVOCATION OF CHARTER OF A MUNICIPAL CORPORATION (§§ 14-62-101 — 14-62-115) › Section 14-62-115 - Failure of Attorney General to file pleadings

(a)
If the Attorney General does not file pleadings as required under §
14-62-102
within thirty (30) calendar days of receipt of the notification under §
14-62-102
, the Legislative Joint Auditing Committee may require the Attorney General to appear before the Legislative Joint Auditing Committee in person for the purpose of explanation and questioning.
(b)
As provided under §
10-3-411
, the Legislative Joint Auditing Committee may issue and enforce a subpoena to the Attorney General to appear before the Legislative Joint Auditing Committee.
(c)
The Legislative Joint Auditing Committee may recommend measures to the Joint Budget Committee or other appropriate legislative committee to address the failure of the Attorney General to file pleadings as required under §
14-62-102
.
Added by Act 2021, No. 938,§ 2, eff. 7/28/2021.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 71 - FISCAL YEARS (§§ 14-71-101 — 14-71-102) › Section 14-71-101 - County fiscal year - Accounting method for county budget and treasury audit purposes - Definition

(a)
The fiscal year of the counties of the state, covering each period of twelve (12) months, begins on January 1 of each year and ends at the close of business on December 31 of the same year.
(b)
(1)
Counties shall use the modified accrual accounting basis for audit purposes.
(2)
(A)
For county government and the regulatory basis of accounting under §
10-4-412(c)(2)
, "modified accrual accounting basis" is defined as an accounting system that recognizes revenues at the time revenues become available and measurable and expenditures at the time liabilities are incurred.
(B)
Revenues and expenditures are accruable to the fiscal year as provided in subsection (c) of this section.
(c)
(1)
Obligations incurred by a county on or before the end of the fiscal year that are not issued an accounts payable claim until the following fiscal year shall be posted to the prior fiscal year appropriations journal when paid within the first two (2) months of the following fiscal year.
(2)
(A)
Revenues collected and owed to a county treasury before the end of the fiscal year and not remitted to the county treasury until the following fiscal year are accruable to the prior fiscal year when receipted by the county treasurer within the first two (2) months of the following fiscal year, except as provided in subdivision (c)(2)(C) of this section.
(B)
Moneys received by the respective counties from the County Aid Fund are revenues of the year in which the moneys are received and are not revenues of the year in which the moneys were collected and paid into the State Treasury.
(C)
Moneys received by the respective counties from the Treasurer of State representing county sales and use taxes are revenues of the year in which the moneys are received and are not revenues of the year in which the moneys were collected and paid into the State Treasury.
(d)
The finance officers of the county shall keep and maintain records as required by law to account for accruable receivables or payables for audit purposes.
Amended by Act 2023, No. 453,§ 2, eff. 6/30/2024.
Amended by Act 2019, No. 310,§ 3, eff. 7/24/2019.
Amended by Act 2017, No. 527,§ 1, eff. 8/1/2017.
Acts 1939, No. 28, § 1; A.S.A. 1947, § 13-102.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 71 - FISCAL YEARS (§§ 14-71-101 — 14-71-102) › Section 14-71-102 - Cities and towns

The fiscal year of each city and town in this state shall begin with January 1 and end at 12:00 midnight on December 31 of each year.
Acts 1925, No. 210, § 7; Pope's Dig., § 9536; A.S.A. 1947, § 13-103.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 1 - GENERAL PROVISIONS (§§ 14-72-101 — 14-72-104) › Section 14-72-101 - Municipal water and sewer revenue bonds for repayment of water pollution control grants

(a)
Any city of the first class, city of the second class, or incorporated town, hereinafter referred to as a "municipality", which has received from the Division of Environmental Quality a water pollution control project grant funded from the proceeds of bonds of the division issued pursuant to §§
8-5-301
-
8-5-318
[repealed] may issue water revenue bonds under the provisions of §
14-234-201
et seq., sewer revenue bonds under the provisions of §§
14-235-201
-
14-235-224
, or combined water and sewer revenue bonds for the purpose of refunding the bonds of the division issued to fund the grant.
(b)
The refunding bonds may be combined with other bonds issued by the municipality under the provisions of §
14-234-201
et seq. and §§
14-235-201
-
14-235-224
into a single issue.
(c)
All bonds issued under this section shall in all respects be authorized, sold, issued, and secured in the manner provided for other bonds issued under §
14-234-201
et seq. and §§
14-235-201
-
14-235-224
pursuant to which the refunding bonds are being issued.
Amended by Act 2019, No. 910,§ 3032, eff. 7/1/2019.
Acts 1973, No. 514, § 1; A.S.A. 1947, § 13-1238; Acts 1999, No. 1164, § 122.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 1 - GENERAL PROVISIONS (§§ 14-72-101 — 14-72-104) › Section 14-72-102 - Transfer of unexpended balance of bond redemption fund to county hospital building fund

In all cases where bonds have been issued in any county for the construction, reconstruction, or extension of any county hospital as authorized by Arkansas Constitution, Amendment 25 [repealed], and all bonds issued for those purposes by any county have been wholly retired, the county courts of those counties may by appropriate order transfer any balances remaining unexpended to the credit of the bond redemption funds in those counties to the county hospital building funds. The moneys may then be used for all purposes for which the county hospital building fund could be used.
Acts 1969, No. 325, § 1; A.S.A. 1947, § 13-1237.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 1 - GENERAL PROVISIONS (§§ 14-72-101 — 14-72-104) › Section 14-72-104 - Revenue bonds when receiver appointed for water, sewer, or combined water and sewer system - Definition

(a)
As used in this section, "system" means a water system, sewer system, or combined water and sewer system.
(b)
Revenue bonds may be issued on behalf of a municipality, public facilities board, or public water authority that owns a system for which a receiver has been appointed to pay or refinance the following costs related to the system:
(1)
Operating costs incurred before or during the receivership;
(2)
Necessary capital improvements to the system;
(3)
Necessary repairs and replacements to the system;
(4)
Refunding indebtedness incurred before or during the receivership;
(5)
The costs of water purchases;
(6)
The costs of treating wastewater; and
(7)
Any other costs related to the system that are approved by the court having jurisdiction over the receivership.
(c)
(1)
Revenue bonds may be issued on behalf of a municipality, public facilities board, or public water authority owning a system by a receiver under subsection (b) of this section only with the approval of the court having jurisdiction over the receivership.
(2)
The municipality, public facilities board, or public water authority that owns the system for which revenue bonds are issued under this section shall pay the indebtedness and interest on the indebtedness from the revenues of the system during the term of the revenue bonds.
(d)
Revenue bonds authorized under this section may be issued and secured as provided in the following:
(1)
For a municipality, one (1) or more of the following:
(A)
The Local Government Capital Improvement Revenue Bond Act of 1985, §
14-164-401
et seq.;
(B)
The statutes governing waterworks and water supply, §
14-234-201
et seq.; and
(C)
The statutes governing municipal sewage systems, §
14-235-201
et seq.;
(2)
For a public facilities board, the Public Facilities Boards Act, §
14-137-101
et seq.; and
(3)
For a public water authority, the Water Authority Act, §
4-35-101
et seq.
Added by Act 2023, No. 555,§ 1, eff. 8/1/2023.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 2 - REFUNDING BONDS OF COUNTIES GENERALLY (§§ 14-72-201 — 14-72-205) › Section 14-72-201 - Authority to refund - Procedure

(a)
Any county of this state shall have the power and is authorized to refund its outstanding bonded indebtedness on terms the county court shall deem for the best interest of the county and to that end may issue negotiable bonds with interest coupons attached. Such refunding bonds either shall mature serially, the first principal payment to be not more than five (5) years after date, over a period of not more than forty (40) years from date thereof or shall mature on or before some fixed date not more than forty (40) years from date thereof, in which event the bonds shall provide for tender or call, or both, to be paid out of any surplus in the bond fund account.
(b)
The county judge of the county may exchange refunding bonds for outstanding bonds of the county.
(c)
The refunding bonds shall not be issued in a greater amount than the face value of the outstanding bonds then being refunded, and in no event shall the refunding bond bear a greater rate of interest than that borne by the bond for which it is exchanged.
(d)
The new bonds shall bear the original signature of the county judge, under the seal of the county.
(e)
This subchapter is intended to authorize only the refunding of valid, outstanding county funding, courthouse, or jail bonds.
Acts 1935, No. 102, § 1; 1937, No. 371, § 1; Pope's Dig., § 11315; A.S.A. 1947, § 13-1220.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 2 - REFUNDING BONDS OF COUNTIES GENERALLY (§§ 14-72-201 — 14-72-205) › Section 14-72-202 - Form of bonds - Rights and remedies

The refunding bonds:
(1)
Shall be negotiable instruments;
(2)
May have coupons evidencing interest, payable annually or semiannually; and
(3)
Shall have all the rights of security and remedies for collection that are provided for the original bonds issued by the county.
Acts 1935, No. 102, § 2; Pope's Dig., § 11319; A.S.A. 1947, § 13-1221.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 2 - REFUNDING BONDS OF COUNTIES GENERALLY (§§ 14-72-201 — 14-72-205) › Section 14-72-203 - Certificates of indebtedness for interest due on refunded bonds and expense of issuing refunding bonds

(a)
In order to facilitate the refunding of its bonds, any county issuing refunding bonds may issue certificates of indebtedness bearing interest not to exceed five percent (5%) per annum, payable to bearer and negotiable, to cover matured interest due on outstanding bonds at the time they are exchanged for refunding bonds and may issue certificates of indebtedness, not bearing interest, payable to bearer, and negotiable, to cover the expenses of issuing refunding bonds.
(b)
Both classes of certificates shall be paid out of the bond fund account of the county from any surplus that remains in the bond fund account in any year after the payment of the full amount of bonds and interest due that year on the refunding issue.
(c)
Both classes of certificates of indebtedness issued in connection with an issue of refunding bonds shall be registered by the county treasurer, except that the certificates for expenses shall bear the early registration numbers to be followed by the certificates for interest. The certificates for interest shall be paid in numerical order of registration out of the money available for their payment.
Acts 1937, No. 371, § 2; Pope's Dig., § 11316; A.S.A. 1947, § 13-1223.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 2 - REFUNDING BONDS OF COUNTIES GENERALLY (§§ 14-72-201 — 14-72-205) › Section 14-72-204 - Tax for original bonds continued for refunding bonds

The tax for the payment of the outstanding bonds levied by the quorum court of the county issuing the refunding bonds shall continue for the payment of the refunding bonds and certificates of indebtedness. If the tax proves insufficient to meet the maturities of the refunding bonds with interest, it shall be the duty of the quorum court of the county to increase the levy of taxes, but not beyond three (3) mills upon the dollar of the assessed valuation existing at the time of the levy.
Acts 1937, No. 371, § 3; Pope's Dig., § 11317; A.S.A. 1947, § 13-1224.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 2 - REFUNDING BONDS OF COUNTIES GENERALLY (§§ 14-72-201 — 14-72-205) › Section 14-72-205 - Refunding bonds under Arkansas Constitution, Amendment 17

(a)
Any county that has issued funding bonds, under Arkansas Constitution, Amendment 10, to take up its outstanding indebtedness which included any balance then due on the cost of construction of a courthouse or jail, or both, shall have the right to issue bonds under the provisions of Arkansas Constitution, Amendment 17 [repealed], and laws in aid thereof, to refund the same proportionate part of its outstanding funding bonds that the included balance of the cost of construction of a courthouse or jail, or both, was of the total indebtedness funded under Arkansas Constitution, Amendment 10.
(b)
Before proceeding under this section to refund courthouse or jail indebtedness, the county court shall enter upon its records an order declaring what part of the funding bonds issued by the county under Arkansas Constitution, Amendment 10, represented indebtedness for the construction of a courthouse or a jail, or both, and what part represented general county indebtedness.
(c)
This order shall be published one (1) time in some newspaper published in the county. If no suit is brought within thirty (30) days after the publication to review the correctness of the finding made in the order, the finding shall be conclusive of the proportionate part of the funding bond issue represented by indebtedness for the construction of a courthouse or a jail, or both, and shall not be open to further attack.
(d)
In the event a county shall refund part of its outstanding funding bonds under the provisions of Arkansas Constitution, Amendment 17 [repealed], and the laws in aid thereof, the county court shall then have authority to refund the balance of the county's outstanding funding bonds under the provisions of this subchapter.
Acts 1937, No. 371, § 4; Pope's Dig., § 11318; A.S.A. 1947, § 13-1225.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 3 - COUNTY BONDS FOR COURTHOUSES AND JAILS (§§ 14-72-301 — 14-72-307) › Section 14-72-301 - Authority to issue

Any county which has built, constructed, or extended a county courthouse or jail, or both, which has not been completely paid for and for which county warrants are now outstanding, may issue bonds through its county court to raise money to pay the indebtedness when authorized by a vote of the majority of the qualified electors of the county, voting on the question in the manner hereinafter provided.
Acts 1929, No. 294, § 1; Pope's Dig., § 2467; A.S.A. 1947, § 13-1213.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 3 - COUNTY BONDS FOR COURTHOUSES AND JAILS (§§ 14-72-301 — 14-72-307) › Section 14-72-302 - Interest, maturity, and sale

(a)
Bonds bearing interest at a rate not exceeding five percent (5%) per annum and maturing in not more than thirty-five (35) years may be issued by the county court in the name of the county when authorized by a vote of the qualified electors, and they may be exchanged for the warrants when the warrants are discounted at the rate of five percent (5%) per annum, from the date of the bonds to the date of the maturity of the warrants, or they may be issued only as the warrants mature.
(b)
In the latter event, the bonds shall be dated in installments as the outstanding warrants mature and bear interest only from that date.
(c)
The bonds may be sold at public auction or upon sealed bids after notice by publication once a week for at least three (3) insertions in some newspaper published and having a bona fide circulation in the county. The last insertion is to be not less than seven (7) days before the date of sale, or they may be exchanged at par for warrants maturing on their date.
(d)
The county court may, in its discretion, advertise the sale in other newspapers or in financial journals.
(e)
The validity of the bonds shall not be affected by the fact that any of the officers executing them may have died or gone out of office before their sale or delivery.
(f)
The bonds shall be made serially through a term of years.
(g)
They shall be executed by the county judge and attested by the county clerk and shall bear the seal of the county court.
(h)
They may all be sold at once, or they may be sold in installments, from time to time, as the outstanding warrants mature.
(i)
Bonds shall not be sold on a basis of less than par for five percent (5%) bonds.
Acts 1929, No. 294, § 2; Pope's Dig., § 2468; A.S.A. 1947, § 13-1214.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 3 - COUNTY BONDS FOR COURTHOUSES AND JAILS (§§ 14-72-301 — 14-72-307) › Section 14-72-303 - Submission of question to electors - Special election

(a)
If the county court decides that it would be advantageous to issue bonds under the authority of Arkansas Constitution, Amendment 17 [repealed], this section, and §§
14-72-301
,
14-72-302
, and
14-72-304
-
14-72-307
, it shall order the submission of the question to the qualified electors of the county at a special election to be held in accordance with §
7-11-201
et seq.
(b)
In all other respects, the special election shall be held as provided by law for the conducting of general elections. It is made the duty of the sheriff of the county, by proclamation duly made and published for the time and in the manner provided by law, to give notice of the time and place of holding the election.
Acts 1929, No. 294, § 3; Pope's Dig., § 2469; A.S.A. 1947, § 13-1215; Acts 2005, No. 2145, § 41; 2007, No. 1049, § 62; 2009, No. 1480, § 80.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 3 - COUNTY BONDS FOR COURTHOUSES AND JAILS (§§ 14-72-301 — 14-72-307) › Section 14-72-304 - Form of ballot - Returns - Appeal

(a)
In the order calling the election, the county court shall prescribe the form of the ballot, which shall show the amount of the proposed bond issue, its purpose, and the amount of tax necessary to be levied in order to pay the bonds with interest, which amount shall not exceed five (5) mills on the dollar.
(b)
The election officers shall make their returns of the result of the election to the county court which shall then enter of record an order showing the number of votes cast in favor of the bond issue and the number cast against it, and the clerk of the court shall publish the order for one (1) insertion in some newspaper having a general circulation in the county.
(c)
Any elector and any property owner of the county may appeal from the finding of the county court as to the result of the election within thirty (30) days thereafter. If no appeal is taken within that time, the finding shall be conclusive.
Acts 1929, No. 294, § 4; Pope's Dig., § 2470; A.S.A. 1947, § 13-1216.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 3 - COUNTY BONDS FOR COURTHOUSES AND JAILS (§§ 14-72-301 — 14-72-307) › Section 14-72-305 - Levy of special funding bond tax

(a)
If a majority voting in the election vote in favor of the issue of the bonds and the levy of the tax, then the quorum or levying court, at any regular, special, or adjourned term thereafter held, shall levy, in addition to all other taxes authorized by law to be levied against all taxable property in the county, a special funding bond tax of not exceeding five (5) mills on the dollar, of the assessed valuation of the property, for the payment of the bonds. This levy, when once made, shall continue and be in force from year to year and extended on the tax books and collected until sufficient funds are collected to pay off and discharge the bonds and interest thereon.
(b)
The county court may call a special meeting of the quorum or levying court for the purpose of levying the tax.
(c)
If the tax first levied proves insufficient to pay the bonds with interest, it shall be the duty of the quorum or levying court to make the additional levies at a rate not exceeding five (5) mills on the dollar till the bonds with interest are paid.
(d)
The proceeds of the tax shall be used only for the payment of the bonds with the interest, and the tax shall be and is pledged as security for the payment of bonds and shall never be diverted to or expended for any other purpose, nor collected for any greater amount or length of time than is necessary to pay and retire the principal and interest of the bonds.
Acts 1929, No. 294, § 5; Pope's Dig., § 2471; A.S.A. 1947, § 13-1217.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 3 - COUNTY BONDS FOR COURTHOUSES AND JAILS (§§ 14-72-301 — 14-72-307) › Section 14-72-306 - Publication - Sale of bonds

(a)
Bonds that may be issued to pay for courthouses or jails, or both, which may be built or extended, shall be sold only at public auction or on sealed bids after notice given by order of the county court and published once a week for at least three (3) insertions in some newspaper published and having a bona fide circulation in the county, the last insertion to be not less than seven (7) days before the date of sale.
(b)
The notice shall state the amount and maturities of the bonds and the purposes for which they are issued.
(c)
The county court may reject any and all bids for any bonds within the scope of this subchapter, and may order a new publication and a new sale, to be conducted in like manner; but the sale must always be to the highest bidder.
(d)
Bonds may be sold on condition that they are to be delivered and paid for in installments as the work progresses, but that condition must appear in the notice, which may provide for bids in the alternative for cash or for payment and delivery in installments.
(e)
The county court may, if it deems it advisable, advertise the sale in financial journals or in other newspapers published within or without the state.
Acts 1929, No. 294, § 6; Pope's Dig., § 2472; A.S.A. 1947, § 13-1218.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 3 - COUNTY BONDS FOR COURTHOUSES AND JAILS (§§ 14-72-301 — 14-72-307) › Section 14-72-307 - Quorum court to levy tax

Whenever, at an election called for the purpose of authorizing the construction, reconstruction, or extension of any county courthouse or county jail, a majority voting in the election vote for such building or buildings, as the case may be, and for the necessary tax, the county court may, by order entered of record, call a special meeting of the quorum or levying court for the purpose of levying the tax authorized at the election; and it shall be the duty of the levying court to meet at the time specified in the order of the county court and to levy the tax authorized by the vote of the electors as aforesaid.
Acts 1929, No. 294, § 7; Pope's Dig., § 2473; A.S.A. 1947, § 13-1219.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 5 - REFUNDING MUNICIPAL BONDS ISSUED UNDER ARKANSAS CONSTITUTION, AMENDMENT 13 (§§ 14-72-501 — 14-72-505) › Section 14-72-501 - Application of subchapter - Successive refunding

(a)
The power and authority granted by this subchapter may be exercised successively.
(b)
Any bonds which have once been refunded under this subchapter may thereafter, from time to time, be refunded.
Acts 1945, No. 103, § 3; A.S.A. 1947, § 13-1233.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 5 - REFUNDING MUNICIPAL BONDS ISSUED UNDER ARKANSAS CONSTITUTION, AMENDMENT 13 (§§ 14-72-501 — 14-72-505) › Section 14-72-502 - Authority to refund - Issuance

Any city of the first or second class of this state shall have the power and is authorized to refund, in whole or in part, from time to time, its valid outstanding bonds issued under Arkansas Constitution, Amendment 13 [repealed]. To that end, the city may issue negotiable refunding bonds upon the terms and conditions hereinafter set out.
Acts 1945, No. 103, § 1; A.S.A. 1947, § 13-1231.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 5 - REFUNDING MUNICIPAL BONDS ISSUED UNDER ARKANSAS CONSTITUTION, AMENDMENT 13 (§§ 14-72-501 — 14-72-505) › Section 14-72-504 - Form of bonds

(a)
All such refunding bonds shall be negotiable instruments and may have coupons evidencing interest, payable annually or semi-annually, and shall have all the rights of security and remedies for collection that are provided for the bonds that are refunded.
(b)
They shall bear the original signature of the mayor of the city and be sealed with the seal of the city. The interest coupons may be signed with the facsimile signature of the mayor.
(c)
In case the mayor whose signature appears on the bonds or interest coupons shall cease to be the mayor before delivery of the refunding bonds, the signature shall nevertheless be valid and sufficient for all purposes, the same as if he had remained in office until delivery.
Acts 1945, No. 103, § 3; A.S.A. 1947, § 13-1233.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 6 - LOCAL GOVERNMENT REVENUE BOND ELECTIONS (§§ 14-72-601 — 14-72-609) › Section 14-72-601 - Title

This subchapter shall be referred to and may be cited as the "Local Government Revenue Bond Election Act of 1986."
Acts 1986 (2nd Ex. Sess.), No. 2, § 1; A.S.A. 1947, § 13-1287.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 6 - LOCAL GOVERNMENT REVENUE BOND ELECTIONS (§§ 14-72-601 — 14-72-609) › Section 14-72-602 - Legislative intent

(a)
The Arkansas Supreme Court has determined in the case of City of Hot Springs v. Creviston, that the Constitution of the State of Arkansas requires that the issuance of revenue bonds by counties and municipalities, including their boards and agencies, must be approved by the electors of the county or municipality at an election called for that purpose. In its decision, the Arkansas Supreme Court stated that these elections might be conducted under the general election laws of the state until the General Assembly provided otherwise. This subchapter is adopted in order that the procedures for these elections be more clearly established. This subchapter is not intended otherwise to limit in any manner the exercise of the powers of counties or municipalities with respect to elections under Arkansas Constitution, Amendment 62, for bonds to be paid from taxes or other permitted sources and is not intended to alter or amend the procedures established by §
14-164-301
et seq.
(b)
It is the specific intent of this subchapter that the provisions of this subchapter are in implementation of or supplemental to other constitutional or statutory provisions now existing or hereafter adopted which may provide for the issuance of revenue bonds. Nothing contained in this subchapter shall be deemed to be a restriction or a limitation upon the issuance of revenue bonds, except as specifically provided in this subchapter with respect to the necessity of approval at an election.
Acts 1986 (2nd Ex. Sess.), No. 2, §§ 2, 10; A.S.A. 1947, §§ 13-1288, 13-1295.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 6 - LOCAL GOVERNMENT REVENUE BOND ELECTIONS (§§ 14-72-601 — 14-72-609) › Section 14-72-603 - Definitions

As used in this subchapter, unless the context otherwise requires:
(1)
"Bonds" means any evidence of indebtedness of a county or municipality issued pursuant to laws in effect authorizing the issuance of bonds, notes, certificates, or other instruments or evidences of indebtedness;
(2)
"Clerk" means the clerk or recorder of a municipality or county clerk of a county;
(3)
"County" or "municipality" also mean any agency, board, commission, or instrumentality of a county or municipality;
(4)
"Legislative body" means the quorum court of a county or the council, board of directors, or other elected governing body of a municipality;
(5)
"Municipality" means any city or incorporated town;
(6)
"Ordinance" means an ordinance, resolution, or other appropriate legislative enactment of a legislative body;
(7)
"Revenue bonds" means all bonds the repayment of which are secured by the pledge of rents, user fees, charges, or other revenues, other than assessments for local improvements and taxes, derived from the project or improvements financed in whole or in part by such revenue bonds, from the operations of any governmental unit, or from any other special fund or source.
Acts 1986 (2nd Ex. Sess.), No. 2, § 3; A.S.A. 1947, § 13-1289.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 6 - LOCAL GOVERNMENT REVENUE BOND ELECTIONS (§§ 14-72-601 — 14-72-609) › Section 14-72-604 - Construction

This subchapter shall be construed liberally to effectuate the legislative intent and the purposes of this subchapter as complete and independent authority for the performance of each and every action and thing authorized in this subchapter, and all powers granted in this subchapter shall be broadly interpreted to effectuate this intent and these purposes and not as a limitation of powers.
Acts 1986 (2nd Ex. Sess.), No. 2, § 11; A.S.A. 1947, § 13-1296.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 6 - LOCAL GOVERNMENT REVENUE BOND ELECTIONS (§§ 14-72-601 — 14-72-609) › Section 14-72-605 - Certain districts excluded

The provisions of this subchapter shall not apply to bonds, notes, certificates, or other evidence of indebtedness issued by a regional water distribution district organized under §
14-116-101
et seq., or to any drainage district, levee district, or other improvement or special assessment district organized with the consent of the owners of land affected thereby under the laws of the state heretofore or hereafter adopted, notwithstanding that the district may pledge revenues from its operations or other sources in addition to, or in lieu of, a pledge of assessed benefits or interest thereon to secure payment of the indebtedness.
Acts 1986 (2nd Ex. Sess.), No. 2, § 8; A.S.A. 1947, § 13-1294.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 6 - LOCAL GOVERNMENT REVENUE BOND ELECTIONS (§§ 14-72-601 — 14-72-609) › Section 14-72-606 - Election procedures - Contest

(a)
(1)
Whenever a county or municipality shall determine the need to issue revenue bonds, the issuance of which under the Arkansas Constitution requires approval at an election, the legislative body thereof shall, by ordinance, submit the question of the issuance of the revenue bonds to the qualified electors of the county or municipality.
(2)
The question of the issuance of revenue bonds may be submitted at a special election called for that purpose in accordance with §
7-11-201
et seq., as provided in the ordinance, and held in the manner provided in this subchapter.
(3)
When revenue bonds are to be issued for more than one (1) purpose, the principal amount of revenue bonds applicable to each purpose shall be stated on the ballot as a separate question, and no revenue bonds shall be issued for such a purpose unless a majority of the electors voting on the question shall have approved the issuance of revenue bonds for that purpose.
(4)
Except as otherwise provided in this subchapter, the election shall be held and conducted in the same manner as a special or general election under the election laws of the state.
(b)
(1)
The ordinance shall set forth the form of ballot questions, which shall include a statement of the purposes for which the revenue bonds are to be issued and the proposed sources of repayment of the revenue bonds.
(2)
Notice of the election shall be given by the clerk of the county or municipality by one (1) publication in a newspaper having general circulation within the county or municipality not less than ten (10) days prior to the election.
(c)
(1)
The county judge or mayor of the county or municipality shall proclaim the results of the election by issuing a proclamation and publishing the proclamation one (1) time in a newspaper having general circulation within the county or municipality.
(2)
(A)
The results of the election as stated in the proclamation shall be conclusive unless suit is filed in the circuit court in the county in which the municipality is located within thirty (30) days after the date of the publication.
(B)
No other action shall be maintained to challenge the validity of the revenue bonds and of the proceedings authorizing the issuance of the bonds unless suit is filed in the circuit court within thirty (30) days after the date of the adoption of an ordinance authorizing the sale of the revenue bonds.
Acts 1986 (2nd Ex. Sess.), No. 2, § 4; A.S.A. 1947, § 13-1290; Acts 2005, No. 2145, § 42; 2007, No. 1049, § 63; 2009, No. 1480, § 81.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 6 - LOCAL GOVERNMENT REVENUE BOND ELECTIONS (§§ 14-72-601 — 14-72-609) › Section 14-72-607 - Venue

For the purposes of this subchapter, when it is necessary to determine whether publication or other activity has taken place within a municipality lying in more than one (1) county, or where suit shall be filed contesting an election in the municipality, then the publication, activity, or suit shall take place in the county in which a majority of the persons living in the municipality reside.
Acts 1986 (2nd Ex. Sess.), No. 2, § 6; A.S.A. 1947, § 13-1292.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 6 - LOCAL GOVERNMENT REVENUE BOND ELECTIONS (§§ 14-72-601 — 14-72-609) › Section 14-72-608 - Elections held prior to effective date

Any election called for the purpose of authorizing revenue bonds and any ordinances or resolutions of a legislative body, or orders of a county court adopted in connection therewith prior to May 8, 1986, shall be deemed ratified and in full compliance with this subchapter if the ordinance, order, or resolution calling the election or notice of election was published at least one (1) time in a newspaper of general circulation in the municipality or county and all other procedures followed complied substantially with the provisions of this subchapter.
Acts 1986 (2nd Ex. Sess.), No. 2, § 7; A.S.A. 1947, § 13-1293.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 6 - LOCAL GOVERNMENT REVENUE BOND ELECTIONS (§§ 14-72-601 — 14-72-609) › Section 14-72-609 - Refunding bonds

(a)
Revenue bonds issued for the purpose of refunding revenue bonds issued prior to March 3, 1986, may be issued without the necessity of an election under this subchapter if the source of repayment is substantially the same as that provided at the original issuance of the revenue bonds to be refunded.
(b)
Revenue bonds to refund revenue bonds authorized at an election pursuant to this subchapter may be refunded without the necessity of an election. However, if the refunding revenue bonds shall be in a greater principal amount than the revenue bonds being refunded or shall be payable from a different source of revenues, the question of issuing the refunding revenue bonds shall be submitted at an election called in the manner provided in this subchapter.
(c)
These refunding revenue bonds may be either sold for cash or delivered in exchange for the outstanding obligations. If sold for cash, the proceeds may either be applied to the payment of the revenue bonds being refunded or deposited in an irrevocable trust for the retirement of the revenue bonds at maturity or on an authorized redemption date.
Acts 1986 (2nd Ex. Sess.), No. 2, § 5; A.S.A. 1947, § 13-1291.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 7 - REFUND OF AMENDMENT 13 MUNICIPAL BOND PROCEEDS (§§ 14-72-701 — 14-72-703) › Section 14-72-701 - Disposition of principal and interest

In instances where bonds were issued by a municipality under Arkansas Constitution, Amendment 13 [repealed], and the project for which the bonds were issued has not been commenced within ten (10) years after the bonds were issued, all interest accrued and accruing on the bond principal may be transferred into the general fund of the city upon a two-thirds (2/3) vote of its governing body. The principal balance shall be refundable to the taxpayers under the procedure prescribed by this subchapter.
Acts 1989, No. 490, § 1.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 7 - REFUND OF AMENDMENT 13 MUNICIPAL BOND PROCEEDS (§§ 14-72-701 — 14-72-703) › Section 14-72-702 - Filing of claims

(a)
The taxpayer must file a claim with the city clerk stating:
(1)
The name and mailing address of the taxpayer;
(2)
The time when and the period for which the tax was paid;
(3)
The amount of the tax which the taxpayer claims was levied for retirement of the bond issue;
(4)
Any other necessary information required by the city clerk.
(b)
The city clerk shall be available for assistance in providing the above necessary information.
Acts 1989, No. 490, § 2.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 4 - PUBLIC FINANCE GENERALLY (§§ 14-71-101 — 14-78-110) › Chapter 72 - BONDS OF COUNTIES, CITIES, AND TOWNS (§§ 14-72-101 — 14-72-703) › Subchapter 7 - REFUND OF AMENDMENT 13 MUNICIPAL BOND PROCEEDS (§§ 14-72-701 — 14-72-703) › Section 14-72-703 - Publication of notice

(a)
Before any money is transferred into the city general fund under this subchapter, the city shall publish a notice of the refund procedure at least once per week for at least four (4) consecutive weeks in a newspaper having general circulation within the city.
(b)
All principal not claimed within six (6) months after the fourth publication of the notice shall be transferred into the general fund of the city.
Acts 1989, No. 490, § 3.