reglab/statecodes huggingface dataset:
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 203 - MUNICIPAL ELECTRIC SYSTEM FINANCING (§§ 14-203-101 — 14-203-119) › Section 14-203-114 - Bonds - Default - Receiver

(a)
In the event of a default in the payment of the principal of, premium, if any, or interest on any bonds issued under this chapter, any court having jurisdiction may appoint a receiver to take charge of all or any part of the electric system of the municipality.
(b)
The receiver shall have the power to operate and maintain the electric system and to charge and collect rates, fees, and charges sufficient to provide for the payment of the principal of, premium, if any, and interest on the bonds, after providing for the payment of any costs of receivership and operating expenses of the electric system, and to apply the revenues derived from the electric system in conformity with this chapter and the ordinance or trust indenture authorizing or securing the bonds.
(c)
When the default has been cured, the receivership shall be ended and the electric system shall be returned to the municipality.
(d)
The relief afforded by this section shall be construed to be in addition and supplemental to the remedies that may be afforded the trustee for the bondholders and the bondholders in the ordinance or trust indenture authorizing or securing the bonds and shall be so granted and administered as to accord full recognition to priority rights of bondholders as the pledge of revenues from, and the mortgage lien on, the electric system as specified in and fixed by the ordinances or trust indentures authorizing or securing successive bond issues.
Acts 1983, No. 441, § 3; A.S.A. 1947, § 19-6003.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 203 - MUNICIPAL ELECTRIC SYSTEM FINANCING (§§ 14-203-101 — 14-203-119) › Section 14-203-115 - Rates, fees, and charges - Disposition - Pledges

(a)
For so long as any bonds are outstanding and unpaid, the rates, fees, and charges for electric power and energy charged and collected by a municipality shall be so fixed as to provide revenues sufficient to pay all costs of and charges and expenses in connection with the proper operation and maintenance of its electric system, and all necessary repairs, replacements, or renewals thereof, to pay when due the principal of, premium, if any, and interest on all bonds, including bonds subsequently issued for additions, improvements, and betterments to its electric system, payable from such revenues, to create and maintain reserves as may be required by any ordinance or trust indenture authorizing or securing bonds, and to pay any and all amounts which the municipality may be obligated to pay from electric system revenues by law or contract.
(b)
For so long as any contract for the purchase of electric power and energy is in effect, the rates, fees, and charges for electric power and energy charged and collected by a municipality may be fixed to provide sufficient revenues to secure payments of amounts due under the contract and to comply with the terms of the contract. Any contract shall be approved by ordinance of the governing body of the purchasing municipality, and the ordinance shall be published one (1) time in a newspaper of general circulation in the municipality. Any contest of the ordinance shall be barred at the end of thirty (30) days after the ordinance is published.
(c)
Any pledge made by a municipality pursuant to this chapter shall be valid and binding from the date the pledge is made. The revenues so pledged and then held or thereafter received by the municipality or any fiduciary on its behalf shall immediately be subject to the lien of the pledge without any physical delivery thereof or further act, and the lien of the pledge shall be valid and binding as against all parties having claims of any kind in tort, contract, or otherwise against the municipality without regard to whether the parties have notice thereof.
(d)
The ordinance, trust indenture, or other instrument by which a pledge is created need not be filed or recorded in any manner.
Acts 1983, No. 441, § 6; A.S.A. 1947, § 19-6006; Acts 1987, No. 735, § 1.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 203 - MUNICIPAL ELECTRIC SYSTEM FINANCING (§§ 14-203-101 — 14-203-119) › Section 14-203-116 - Rights of holder or owner of bonds

Any holder or registered owner of bonds or coupons appertaining thereto, except to the extent the rights given in this chapter may be restricted by the ordinance or trust indenture authorizing or securing such bonds and coupons, may, either at law or in equity, by suit, action, mandamus, or other proceeding, protect and enforce any and all rights under the laws of the state or granted hereunder, or, to the extent permitted by law, under such ordinance or trust indenture authorizing or securing such bonds or under any agreement or other contract executed by the municipality pursuant to this chapter, and may enforce and compel the performance of all duties required by this chapter or by such ordinance or trust indenture to be performed by any municipality or by any officer thereof, including the fixing, charging, and collecting of rates, fees, and charges.
Acts 1983, No. 441, § 7; A.S.A. 1947, § 19-6007.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 203 - MUNICIPAL ELECTRIC SYSTEM FINANCING (§§ 14-203-101 — 14-203-119) › Section 14-203-117 - Bonds - Tax exemption

Bonds issued under the provisions of this chapter, and the interest thereon, shall be exempt from all state, county, and municipal taxes, including property, income, inheritance, and estate taxes.
Acts 1983, No. 441, § 8; A.S.A. 1947, § 19-6008.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 203 - MUNICIPAL ELECTRIC SYSTEM FINANCING (§§ 14-203-101 — 14-203-119) › Section 14-203-118 - Investment of public funds in bonds

Any municipality, or any board, commission, or other authority duly established by ordinance of any municipality, or the boards of trustees, respectively, of the firemen's relief and pension fund and the policemen's pension and relief fund of any municipality, or the board of trustees of any retirement system created by the General Assembly may, in its discretion, invest any of its funds in bonds issued under the provisions of this chapter. Bonds issued under the provisions of this chapter shall be eligible to secure the deposit of public funds.
Acts 1983, No. 441, § 9; A.S.A. 1947, § 19-6009.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 203 - MUNICIPAL ELECTRIC SYSTEM FINANCING (§§ 14-203-101 — 14-203-119) › Section 14-203-119 - Storm recovery costs

(a)
A municipality shall not issue bonds for the sole purpose of paying storm recovery costs related to a storm unless:
(1)
The Arkansas Public Service Commission has previously adopted a financing order that allows for the issuance of storm recovery bonds by a public utility due to the same storm; or
(2)
Upon request to the commission for an emergency storm declaration.
(b)
A municipality that issues bonds for the purpose of payment of storm recovery costs shall take reasonable steps to mitigate the financial impact of bonds on customers of a municipal electric utility by:
(1)
Pursuing recovery of costs incurred during storm recovery operations that were unnecessary or unreasonable; and
(2)
Utilizing any grant funding or assistance to reduce the amount of storm recovery costs that may be available to the municipality.
Added by Act 2021, No. 903,§ 4, eff. 4/26/2021.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 204 - MUNICIPAL AND COUNTY HYDROELECTRIC POWER DEVELOPMENT (§§ 14-204-101 — 14-204-112) › Section 14-204-101 - Title

This chapter may be referred to and may be cited as the "Municipalities and Counties Hydroelectric Power Development Revenue Bond Law."
Acts 1981 (Ex. Sess.), No. 17, § 1; A.S.A. 1947, § 19-5801.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 204 - MUNICIPAL AND COUNTY HYDROELECTRIC POWER DEVELOPMENT (§§ 14-204-101 — 14-204-112) › Section 14-204-103 - Construction

(a)
This chapter shall be liberally construed to accomplish the purposes hereof and shall be the sole act and authority necessary to be complied with.
(b)
This chapter and the authority conferred by it shall be supplemental to all other authority set forth in any other act.
Acts 1981 (Ex. Sess.), No. 17, § 12; A.S.A. 1947, § 19-5812.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 204 - MUNICIPAL AND COUNTY HYDROELECTRIC POWER DEVELOPMENT (§§ 14-204-101 — 14-204-112) › Section 14-204-104 - Authorization to own and operate hydroelectric power project - Contracts to supply energy

(a)
Any municipality and any county is authorized to own, acquire, construct, reconstruct, extend, equip, improve, operate, maintain, sell, lease, contract concerning, or otherwise deal in or dispose of, or make loans to finance the acquisition, construction, reconstruction, extension, equipment, improvement of, facilities to constitute all or any part of a hydroelectric power project, as defined in §
14-204-102
.
(b)
Without limiting the generality of the foregoing, any municipality or county is authorized to contract with any regulated public utility for the supplying of electrical energy produced by any such project, upon terms acceptable to such municipality or county.
Acts 1981 (Ex. Sess.), No. 17, § 2; A.S.A. 1947, § 19-5802.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 204 - MUNICIPAL AND COUNTY HYDROELECTRIC POWER DEVELOPMENT (§§ 14-204-101 — 14-204-112) › Section 14-204-105 - Authorization to issue bonds

(a)
Municipalities and counties are authorized to use any available revenues for the accomplishment of the purposes set forth in §
14-204-104
and are authorized to issue revenue bonds and to use the proceeds thereof for the accomplishment of the purposes set forth in §
14-204-104
, either alone or together with other available funds and revenues.
(b)
The amount of bonds issued shall be sufficient to pay all costs of accomplishing such purposes, all costs of issuing the bonds, the amount necessary for a reserve, if desirable, the amount necessary to provide for debt service on the bonds until revenues for the payment thereof are available, and any other costs of whatever nature incidental to the accomplishment of such purposes.
Acts 1981 (Ex. Sess.), No. 17, § 3; A.S.A. 1947, § 19-5803.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 204 - MUNICIPAL AND COUNTY HYDROELECTRIC POWER DEVELOPMENT (§§ 14-204-101 — 14-204-112) › Section 14-204-107 - Nature of bond indebtedness - Payment from revenue of project - Use of excess revenue

(a)
(1)
Revenue bonds shall not be general obligations of the municipality or county but shall be special obligations, and in no event shall the revenue bonds constitute an indebtedness of the municipality or county within the meaning of any constitutional or statutory limitation.
(2)
It shall be plainly stated on the face of each bond that the bond has been issued under the provisions of this chapter and that it does not constitute an indebtedness of the municipality or county within any constitutional or statutory limitation.
(b)
The principal of and interest on the revenue bonds, with trustee's and paying agent's fees and similar servicing charges, shall be payable from revenues derived from the hydroelectric project or projects acquired, constructed, reconstructed, extended, or improved, in whole or in part, with the proceeds of the bonds.
(c)
Revenues derived from the operation of hydroelectric power projects in excess of the revenues necessary to provide for the operation, maintenance, depreciation, and debt service requirements in connection with such hydroelectric power projects, as determined by the municipality or county, may be used for any lawful municipal or county purpose and may be pledged by the municipality or county issuing revenue bonds under this chapter to the payment of principal and interest on indebtedness incurred by the municipality or county, or by a nonprofit corporation with the approval of the municipality or county, for financing the acquisition, construction, reconstruction, extension, equipment, or improvement of waterworks facilities, of sanitation and solid waste facilities, of facilities for the securing or developing of tourism, or of community recreational facilities.
Acts 1981 (Ex. Sess.), No. 17, § 5; A.S.A. 1947, § 19-5805.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 204 - MUNICIPAL AND COUNTY HYDROELECTRIC POWER DEVELOPMENT (§§ 14-204-101 — 14-204-112) › Section 14-204-108 - Refunding bonds

(a)
Revenue bonds may be issued under this chapter for the purpose of refunding any obligations issued under this chapter. Such refunding bonds may be combined with bonds issued under the provisions of §
14-204-105
into a single issue.
(b)
When bonds are issued under this section for refunding purposes, such bonds may either be sold or delivered in exchange for the outstanding obligations. If sold, the proceeds may be either applied to the payment of the obligations refunded or deposited in escrow for the retirement thereof.
(c)
The ordinance or order under which such refunding bonds are issued may provide that any of the refunding bonds shall have the same priority of lien on the revenues pledged for their payment as was enjoyed by the obligations refunded thereby.
(d)
Such refunding bonds shall be issued and secured in the manner provided for other bonds issued under this chapter and shall have all the attributes of such bonds.
Acts 1981 (Ex. Sess.), No. 17, § 6; A.S.A. 1947, § 19-5806.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 204 - MUNICIPAL AND COUNTY HYDROELECTRIC POWER DEVELOPMENT (§§ 14-204-101 — 14-204-112) › Section 14-204-109 - Mortgage lien - Default - Receiver

(a)
The ordinance, order, or indenture referred to §
14-204-106
may, but need not, impose a foreclosable mortgage lien upon the facilities acquired, constructed, reconstructed, extended, equipped, or improved, in whole or in part, with the proceeds of bonds issued under this chapter, and the nature and extent of such mortgage lien may be controlled by the ordinance, order, or indenture including, without limitation, provisions pertaining to the release of all or part of the facilities from the mortgage lien and the priority of the mortgage lien in the event of successive bond issues as authorized by §
14-204-106
.
(b)
The ordinance, order, or indenture authorizing or securing the bonds may authorize any holder or registered owner of bonds issued under this chapter, or a trustee on behalf of all holders and registered owners, either at law or in equity, to enforce the mortgage lien and, by proper suit, to compel the performance of the duties of the officials of the issuing municipality or county set forth in this chapter and set forth in the ordinance, order, or indenture authorizing or securing the bonds.
(c)
Subject to the provisions of the ordinance, order, or indenture referred to in §
14-204-106
, in the event of a default in the payment of the principal of or interest on any revenue bonds issued under this chapter any court having jurisdiction may appoint a receiver to take charge of the facilities acquired, constructed, reconstructed, extended, equipped, or improved, in whole or in part, with the proceeds of such bonds. The receiver shall have the power to operate and maintain the facilities and to charge and collect rates and rents sufficient to provide for the payment of the principal of and interest on the bonds, after providing for the payment of any cost of receivership and operating expenses of the facilities, and to apply the income and revenues derived from the facilities in conformity with this chapter and the ordinance or indenture authorizing or securing the bonds. When the default has been cured, the receivership shall be ended and the properties returned to the municipality or county.
(d)
The relief afforded by this section shall be construed to be in addition and supplemental to the remedies that may be afforded the trustee for the bondholders and the bondholders in the ordinance, order, or indenture authorizing or securing the bonds and shall be so granted and administered as to accord full recognition to priority rights of bondholders as to the pledge of revenues from, and mortgage lien on, the facilities, as specified in and fixed by the ordinances, orders, or indentures authorizing or securing successive bond issues.
Acts 1981 (Ex. Sess.), No. 17, § 7; A.S.A. 1947, § 19-5807.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 204 - MUNICIPAL AND COUNTY HYDROELECTRIC POWER DEVELOPMENT (§§ 14-204-101 — 14-204-112) › Section 14-204-110 - Application for licenses, permits, certificates, and approvals

(a)
Municipalities and counties proceeding under this chapter are authorized to apply to the appropriate agencies of the state, the United States or any state thereof, and to any other proper agency for such licenses, permits, certificates, or approvals as may be necessary, and to obtain, hold, and use such licenses, permits, certificates, and approvals.
(b)
Nothing in this chapter shall be construed to require a municipality or county to obtain any license, certificate, permit, or approval from the Arkansas Public Service Commission not otherwise required by other laws of this state.
Acts 1981 (Ex. Sess.), No. 17, § 8; A.S.A. 1947, § 19-5808.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 204 - MUNICIPAL AND COUNTY HYDROELECTRIC POWER DEVELOPMENT (§§ 14-204-101 — 14-204-112) › Section 14-204-111 - Bonds - Tax exemption

Bonds issued under the provisions of this chapter shall be exempt from all state, county, and municipal taxes. This exemption includes income, property, and inheritance taxes.
Acts 1981 (1st Ex. Sess.), No. 17, § 9; A.S.A. 1947, § 19-5809.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 204 - MUNICIPAL AND COUNTY HYDROELECTRIC POWER DEVELOPMENT (§§ 14-204-101 — 14-204-112) › Section 14-204-112 - Investment of public funds in bonds

Any public funds may be invested in revenue bonds issued under the provisions of this chapter. Revenue bonds issued under this chapter shall be eligible to secure the deposit of public funds.
Acts 1981 (Ex. Sess.), No. 17, § 10; A.S.A. 1947, § 19-5810.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 205 - NATURAL GAS DISTRIBUTION SYSTEMS (§§ 14-205-101 — 14-205-112) › Section 14-205-101 - Construction

Nothing in this chapter shall be construed as applying to municipalities now served by any existing gas transmission line or for any distribution system either publicly or privately owned.
Acts 1949, No. 71, § 12; A.S.A. 1947, § 19-4812.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 205 - NATURAL GAS DISTRIBUTION SYSTEMS (§§ 14-205-101 — 14-205-112) › Section 14-205-102 - Election on bond issue

(a)
Any municipality, by and with the consent of a majority of the qualified electors of the municipality voting on the question at an election held for the purpose, may issue revenue bonds for the purpose of constructing and operating transmission lines or distribution systems for natural gas.
(b)
The notice, calling, publication, and conduct of the election shall be governed by the provisions of Arkansas Constitution, Amendment 13 [repealed].
Acts 1949, No. 71, § 1; A.S.A. 1947, § 19-4801.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 205 - NATURAL GAS DISTRIBUTION SYSTEMS (§§ 14-205-101 — 14-205-112) › Section 14-205-103 - Provisions of ordinance

(a)
The ordinance providing for the issuance of the revenue bonds shall set forth a brief description of the contemplated undertaking and must include:
(1)
The estimated cost thereof;
(2)
The amount of the issue;
(3)
The rate of interest;
(4)
The time and place of payment; and
(5)
Other details in connection with the issuance of the bonds.
(b)
The ordinance shall declare that a statutory mortgage lien shall exist upon the property to be constructed, fix the minimum rate to be collected for gas prior to the payment of the bonds, and it shall pledge the revenues derived from the system for the purpose of paying the principal and interest on the bonds.
(c)
The pledge shall fix the amount of revenue to be set apart and applied to the payment of the principal and interest on the bonds and the proportion of the balance of such revenues and income to be set aside as an adequate depreciation account and the remainder to be set aside for reasonable and proper operation.
Acts 1949, No. 71, § 2; A.S.A. 1947, § 19-4802.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 205 - NATURAL GAS DISTRIBUTION SYSTEMS (§§ 14-205-101 — 14-205-112) › Section 14-205-104 - Publication of ordinance and notice

When the ordinance is adopted by the municipality's legislative body, it shall be published one (1) time in a newspaper published in the municipality, or, if there is no newspaper so published, then in a newspaper which has a bona fide general circulation within the municipality with a notice to all persons concerned stating that the ordinance has been adopted, that the municipality contemplated the issuance of the bonds described in the ordinance, and that any person interested may appear before the legislative body, upon a certain date which shall not be less than ten (10) days subsequent to the publication of the ordinance and notice, and present protests.
Acts 1949, No. 71, § 3; 1951, No. 71, § 1; A.S.A. 1947, § 19-4803.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 205 - NATURAL GAS DISTRIBUTION SYSTEMS (§§ 14-205-101 — 14-205-112) › Section 14-205-105 - Hearing

At the hearing all objections and suggestions shall be heard and the governing body of the municipality may take such action as it deems proper.
Acts 1949, No. 71, § 4; A.S.A. 1947, § 19-4804.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 205 - NATURAL GAS DISTRIBUTION SYSTEMS (§§ 14-205-101 — 14-205-112) › Section 14-205-106 - Bonds as negotiable instruments - Execution

(a)
Bonds issued under the provisions of this chapter shall be negotiable instruments.
(b)
(1)
The bonds shall be executed by the presiding officer and clerk or recorder of the municipality and sealed with the corporate seal of the municipality.
(2)
When an officer whose signature appears on the bonds or coupons ceases to be an officer before delivery of the bonds, his signature shall nevertheless be valid.
Acts 1949, No. 71, §§ 6, 7; A.S.A. 1947, §§ 19-4806, 19-4807.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 205 - NATURAL GAS DISTRIBUTION SYSTEMS (§§ 14-205-101 — 14-205-112) › Section 14-205-107 - Amounts of bonds

The bonds shall be issued in whatever amounts may be necessary to provide sufficient funds to pay all costs of construction, including engineering, legal, and other expenses, together with interest on the bonds themselves to date six (6) months subsequent to the estimated date of completion of the construction.
Acts 1949, No. 71, § 5; A.S.A. 1947, § 19-4805.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 205 - NATURAL GAS DISTRIBUTION SYSTEMS (§§ 14-205-101 — 14-205-112) › Section 14-205-108 - Sale of bonds - Use of proceeds

The bonds shall be sold at not less than ninety cents (90¢) on the dollar. The proceeds derived therefrom shall be used exclusively for the purposes for which the bonds are issued. They may be sold at one (1) time or in parcels as funds are needed.
Acts 1949, No. 71, § 8; A.S.A. 1947, § 19-4808.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 205 - NATURAL GAS DISTRIBUTION SYSTEMS (§§ 14-205-101 — 14-205-112) › Section 14-205-109 - Interest on bonds

The bonds shall bear interest at such rate or rates payable semiannually and shall be payable at such times and places not exceeding thirty-five (35) years from their date as prescribed in the ordinance providing for their issuance.
Acts 1949, No. 71, § 9; 1970 (Ex. Sess.), No. 50, § 1; 1975, No. 225, § 13; 1981, No. 425, § 13; A.S.A. 1947, § 19-4809.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 205 - NATURAL GAS DISTRIBUTION SYSTEMS (§§ 14-205-101 — 14-205-112) › Section 14-205-110 - Bonds - Nature of indebtedness

(a)
Bonds issued under this chapter shall be payable solely from revenues derived from the gas system.
(b)
The bonds shall not, in any event, constitute an indebtedness of the municipality within the meaning of the constitutional provisions.
(c)
It shall be plainly stated on the face of each bond that it has been issued under the provisions of this chapter.
Acts 1949, No. 71, § 10; A.S.A. 1947, § 19-4810.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 205 - NATURAL GAS DISTRIBUTION SYSTEMS (§§ 14-205-101 — 14-205-112) › Section 14-205-111 - Statutory lien upon system

(a)
A statutory mortgage lien shall be imposed upon the gas system constructed from the proceeds of bonds authorized by this chapter. The lien shall exist in favor of the holders of the bonds and the holders of coupons attached to the bonds.
(b)
The gas system shall remain subject to the statutory mortgage lien until payment in full of the principal and interest of the bonds.
Acts 1949, No. 71, § 11; A.S.A. 1947, § 19-4811.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 205 - NATURAL GAS DISTRIBUTION SYSTEMS (§§ 14-205-101 — 14-205-112) › Section 14-205-112 - Eminent domain

(a)
The right and power of eminent domain is conferred upon municipal corporations to enter upon, take, and condemn private property, either within or without the corporate limits of any such municipality, for the construction and operation of transmission lines or distribution systems for natural gas.
(b)
The right and power of eminent domain, as conferred in this section, shall be exercised in the same manner as is provided in §§
18-15-301
-
18-15-307
and any act amendatory or supplemental thereto.
Acts 1949, No. 120, §§ 1, 2; A.S.A. 1947, §§ 19-4813, 19-4814.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 206 - ACQUISITION OF UTILITIES BY MUNICIPALITIES (§§ 14-206-101 — 14-206-112) › Section 14-206-101 - Applicability

(a)
The provisions of this chapter shall not be applicable to the acquisition of any gas or electric public utility plant or equipment by a municipality which, on March 3, 1987, owns, whether operated by it or another entity under a franchise, lease, or other agreement or arrangement between the municipality and the entity, a system for the production, transmission, delivery, distribution, or furnishing of gas or electric utility service of the type which the municipality seeks to acquire, whether or not the municipality has granted, or in the future grants, to the public utility a franchise as defined elsewhere in this chapter.
(b)
The valuation provisions of §
14-206-109(b)(2)(A)
-(E) shall have no application to any proceedings involving acquisition by a municipality described in this section of any gas or electric public utility plant or equipment.
Acts 1987, No. 110, § 9.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 206 - ACQUISITION OF UTILITIES BY MUNICIPALITIES (§§ 14-206-101 — 14-206-112) › Section 14-206-102 - Power to acquire, construct, and operate - Notice

(a)
When authorized by order of the Arkansas Public Service Commission, and not otherwise, a municipality shall have the power, subject to the provisions of this chapter, to acquire by purchase, to construct, and to operate a gas or electric public utility plant and equipment, or any part thereof, for the production, transmission, delivery, or furnishing of any public service.
(b)
(1)
Any gas or electric public utility accepting or operating under any permit, license, or franchise heretofore or hereafter granted by any municipality, by acceptance of any such permit, license, or franchise, shall be deemed to have consented to a future purchase by the municipality of its distribution property located within the boundaries of the municipality which is actually used and useful for the convenience of the public:
(A)
Upon the municipality's compliance with the requirements and conditions set forth in this chapter; and
(B)
Upon receipt by the gas or electric public utility of the payment by payment by the municipality of the purchase price as determined in accordance with the provisions of this chapter.
(2)
However, the purchase price for the gas or electric public utility property shall be no less than the just compensation and damages to which the gas or electric public utility would otherwise be entitled under the constitution of this state or that of the United States.
(c)
(1)
By accepting or operating under any such permit, license, or franchise, the gas or electric public utility shall thereby be deemed to have waived the right of the necessity of the taking, to be established by the verdict of a jury, and to have waived all other procedural remedies and rights relative to condemnation, except such rights and remedies as are provided in this chapter.
(2)
However, the municipality shall give the gas or electric public utility not less than ninety (90) days' written notice of its intention to make the purchase prior to taking any action to acquire those properties under this chapter.
Acts 1987, No. 110, § 1.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 206 - ACQUISITION OF UTILITIES BY MUNICIPALITIES (§§ 14-206-101 — 14-206-112) › Section 14-206-103 - Confirmation by electors

(a)
Any municipality may determine to seek approval from the Arkansas Public Service Commission to acquire the property of a gas or electric public utility as authorized under the provisions of this chapter by the vote of the municipal council, city commission, or governing body taken after a public hearing, of which at least thirty (30) days' notice has been given by publication in newspapers having a general circulation within the municipality. This vote shall have been ratified and confirmed by a majority of the electors voting thereon at any special election held in accordance with §
7-11-201
et seq.
(b)
(1)
In the event the vote of the municipal council, city commission, or governing body is ratified and confirmed by a majority of the electors voting thereon, the clerk of the municipality shall notify the Arkansas Public Service Commission of the results of the election within ninety (90) days thereafter.
(2)
Within one (1) year after the election, the municipality may file with the Arkansas Public Service Commission an application for approval of a certificate for the acquisition or purchase of the property of a gas or electric public utility as provided in this chapter.
Acts 1987, No. 110, § 2; 2005, No. 2145, § 51; 2007, No. 1049, § 72; 2009, No. 1480, § 91.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 206 - ACQUISITION OF UTILITIES BY MUNICIPALITIES (§§ 14-206-101 — 14-206-112) › Section 14-206-106 - Public hearing

Upon receipt of an application complying with §§
14-206-104
and
14-206-105
, the commission shall fix a date for the commencement of a public hearing on the application. The testimony presented at the hearing may be presented in writing or orally. The commission may make rules designed to exclude repetitive, redundant, or irrelevant testimony.
Acts 1987, No. 110, § 4.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 206 - ACQUISITION OF UTILITIES BY MUNICIPALITIES (§§ 14-206-101 — 14-206-112) › Section 14-206-107 - Parties to proceeding - Limited appearance

(a)
The parties to the proceeding shall include the municipality and the gas or electric public utility which owns the property. In addition, each county and government agency or department or other person entitled to receive service of a copy of the application under §
14-206-105(a)
shall be a party if it has filed with the commission a notice of intervention as a party within thirty (30) days after the service. A party to the proceeding shall also include any person whose petition for intervention is approved by the commission.
(b)
(1)
Any person may make a limited appearance in the proceeding by filing a verified statement of position within thirty (30) days after the date given in the public notice as the date of filing the application. No person making a limited appearance shall be a party or shall have the right to receive further notice or to cross-examine witnesses on any issue outside the scope of its statement of position.
(2)
A person making a limited appearance is subject to being called for cross-examination only on the subject matter of the statement of position by the applicant or other party. If a person fails to appear for cross-examination, if called, the statement of position may be stricken from the record at the discretion of the commission.
Acts 1987, No. 110, § 5.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 206 - ACQUISITION OF UTILITIES BY MUNICIPALITIES (§§ 14-206-101 — 14-206-112) › Section 14-206-108 - Decision upon application - Burden of proof

(a)
The Arkansas Public Service Commission shall render a decision upon the record either granting or denying the application as filed or granting it upon such terms, conditions, or modifications of the financing, acquisition, operation, or maintenance of the property as the commission may deem appropriate. The commission may not grant a certificate for the financing, acquisition, operation, and maintenance of any property, either as proposed or as modified by the commission, unless it shall find and determine:
(1)
The nature of the probable economic impact of the acquisition on the customers of the gas or electric public utility that owns the property and on the customers to be served by the municipality;
(2)
That the method of financing the acquisition, either as proposed or as modified by the commission, represents an acceptable economic impact, considering economic conditions and the need for and cost to the municipality of additional gas or electric public utility services;
(3)
That the acquisition of the properties, the gas or electric public utility functions to be performed, the operating procedures, the properties and equipment, and the use of the properties collectively provide reasonable assurance that the municipality will comply with all applicable laws, rules, and regulations and that the public health, safety, economy, and convenience will not be adversely affected;
(4)
That the municipality is technically and financially qualified to acquire and operate the proposed properties in accordance with all applicable laws, rules, and regulations;
(5)
That the issuance of the certificate will not be detrimental to the public health, safety, economy, and convenience; and
(6)
That the acquisition will serve the public interest, convenience, and necessity.
(b)
Any municipality which files an application for approval of the acquisition or purchase of any gas or electric utility property shall have the burden of proof with respect to every element of the application. The commission shall not approve any application for approval of the purchase or acquisition by any municipality of any property of a gas or electric public utility unless it shall be shown at the hearing upon the application for approval of the acquisition, by the clear preponderance of the evidence, that neither the gas or electric public utility nor the customers of the gas or electric public utility will be adversely affected by the proposed acquisition or purchase.
Amended by Act 2019, No. 315,§ 1012, eff. 7/24/2019.
Acts 1987, No. 110, § 6.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 206 - ACQUISITION OF UTILITIES BY MUNICIPALITIES (§§ 14-206-101 — 14-206-112) › Section 14-206-110 - Confirmation of sale - Modification

(a)
The commission shall by order fix, determine, and certify to the municipal governing body, to the gas or electric public utility, and to any bondholders, mortgagees, and lienors of the gas or electric utility appearing at the hearing, the purchase price to be paid for the taking and severance of the property of the gas or electric public utility and all other terms and all conditions of sale and purchase that it shall ascertain to be reasonable, which terms and conditions shall constitute the compensation and damages to be paid, and the other terms and conditions of the sale and purchase.
(b)
Upon the filing of the order by the commission with the clerk of the municipality, the municipality shall thereupon be obligated to make the required payment and otherwise comply with the terms and conditions of the order to consummate the purchase.
(c)
Upon the consummation of the purchase, the gas or electric public utility shall execute an instrument conveying the property purchased and paid for by the municipality, and the municipality may take over the control and operation of the property.
(d)
Unless the purchase price is paid and the purchase consummated within one hundred eighty (180) days after the filing of the commission's order with the clerk of the municipality, the commission's order shall be considered null and void.
(e)
If the commission determines that all or part of the proposed acquisition should be modified, it may condition its approval of the acquisition upon the modification.
Acts 1987, No. 110, § 6.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 206 - ACQUISITION OF UTILITIES BY MUNICIPALITIES (§§ 14-206-101 — 14-206-112) › Section 14-206-111 - Order - Findings of fact

In rendering a decision on the application for approval of the acquisition, the commission shall issue and serve upon all parties an order, which shall include, or be accompanied by, findings of fact stating its reasons for the action taken.
Acts 1987, No. 110, § 7.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 206 - ACQUISITION OF UTILITIES BY MUNICIPALITIES (§§ 14-206-101 — 14-206-112) › Section 14-206-112 - Rehearing - Judicial review

Any party aggrieved by any decision issued on an application for approval of the acquisition may apply for a rehearing as provided in §
23-2-401
, and §§
23-2-421
-
23-2-424
. A party aggrieved by the final decision of the commission on rehearing may obtain judicial review of the decision in accordance with the provisions of §
23-2-401
, and §§
23-2-421
-
23-2-424
.
Acts 1987, No. 110, § 8.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 207 - VALUATION OF PROPERTIES AND FACILITIES UPON ANNEXATION (§§ 14-207-101 — 14-207-106) › Section 14-207-101 - Definitions

As used herein the following terms shall have the following definitions:
(1)
"Municipality" shall mean both Arkansas municipal corporations and consolidated municipal utility improvement districts;
(2)
"Electric public utility" and "electric public utility system" shall include persons, corporations, and other entities providing electric power to the public at wholesale or retail, but shall not include electric cooperative corporations providing electric power predominantly for resale;
(3)
"Franchise" or "franchise agreement" shall mean an agreement between a municipality which owns or operates an electric utility system and an electric public utility, including, but not limited to franchise agreements within the meaning of Acts 1935, No. 324, as amended, whereby the electric public utility continues to serve customers in its allocated service area and pays to the municipality which owns or operates an electric utility system franchise fees in accordance with applicable law and the rules of the Arkansas Public Service Commission.
Amended by Act 2019, No. 315,§ 1013, eff. 7/24/2019.
Acts 1989, No. 639, § 1; 1991, No. 745, § 1.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 207 - VALUATION OF PROPERTIES AND FACILITIES UPON ANNEXATION (§§ 14-207-101 — 14-207-106) › Section 14-207-102 - Confirmation of ownership rights

The right of Arkansas municipal corporations and consolidated municipal utility improvement districts currently owning and operating electric utility systems is hereby ratified and confirmed.
Acts 1989, No. 639, § 2.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 207 - VALUATION OF PROPERTIES AND FACILITIES UPON ANNEXATION (§§ 14-207-101 — 14-207-106) › Section 14-207-104 - Procedures and valuation formula

(a)
In the event that an agreement pursuant to §
14-207-103(a)
or §
14-207-103(b)
cannot be reached within such six-month period, the municipality shall pay to the electric public utility an amount equal to the following:
(1)
The present-day reproduction cost, new, of the properties and facilities being acquired, less depreciation computed on a straight-line basis; plus
(2)
The book value, net of depreciation, of all properties and facilities not being acquired or portions thereof, which were constructed or purchased in good faith by the electric public utility in order to serve customers in the annexed area, less the book value, net of depreciation, of the properties and facilities, to the extent that at the time that title to the properties or facilities being taken pursuant to this act is transferred, the properties and facilities not being acquired:
(A)
Are required for serving customers of the electric public utility not in the annexed area; and
(B)
May be reasonably expected to serve customers not in the annexed area within eight (8) years following the acquisition; plus
(3)
An amount equal to the cost of constructing any necessary facilities to reintegrate the system of the electric public utility outside the annexed area after detaching the portion to be sold; plus
(4)
In the event that the electric public utility system does not provide wholesale power service to the municipality acquiring its properties, facilities, and customers under this subchapter, then, in addition to the amounts required by subdivisions (a)(1) and (3) of this section, the municipality shall pay the electric public utility either:
(A)
Three hundred fifty-five percent (355%) of gross revenues less gross receipts taxes received by the electric public utility for the twelve-month period preceding notification from customers in the annexed area; or
(B)
The amount required by subdivision (a)(4)(A) of this section payable over five (5) years with interest at the then-prevailing AAA insured tax-exempt municipal bond interest rate.
(b)
In the event that the electric public utility system ceases to provide wholesale power service to the municipality prior to five (5) years after the acquisition of the properties, facilities, and customers of the electric power utility under this subchapter, then the municipality will pay, pro rata for the remainder of such five-year period, in accordance with subdivision (a)(4)(A) of this section.
Acts 1991, No. 745, § 3; 2001, No. 988, § 4.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 12 - PUBLIC UTILITIES GENERALLY (§§ 14-199-101 — 14-208-104) › Chapter 207 - VALUATION OF PROPERTIES AND FACILITIES UPON ANNEXATION (§§ 14-207-101 — 14-207-106) › Section 14-207-105 - Valuation data

The public utility shall provide to the municipality all data and information required to establish valuations under this subchapter, provided, however, that the municipality shall, at the time of the transfer under §
14-207-104
, reimburse the public utility for reasonable costs of appraisal, engineering, and incidental expenses associated with establishing valuation.
Acts 1989, No. 639, § 5.