§ 19-9-601. Title

This subchapter shall be referred to and may be cited as the “Revenue Bond Act of 1987”.

§ 19-9-602. Legislative determination

The people of the State of Arkansas, by the adoption of Arkansas Constitution, Amendment 65, have expressed their intention to provide governmental units expanded power and authority with respect to the creation of bonded indebtedness for capital improvements of a public nature, facilities for the securing and developing of industry or agriculture, and other purposes […]

§ 19-9-603. Legislative intent

It is the specific intent of this subchapter that the provisions hereof are procedural only and are supplemental to other constitutional or statutory provisions now existing or hereafter adopted which may authorize the issuance of revenue bonds for the financing of capital improvements. Nothing contained in this subchapter shall be deemed to be a restriction […]

§ 19-9-604. Definitions

As used in this subchapter: (1) “Bonds” or “revenue bonds” means bonds issued pursuant to an act of the General Assembly under the authority of the Arkansas Constitution, Amendment 65, and means all bonds or other obligations, the repayment of which are secured by rents, loan payments, user fees, charges, or other revenues derived from […]

§ 19-9-605. 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 act and thing authorized in this subchapter. All powers granted in this subchapter shall be broadly interpreted to effectuate that intent and those purposes and not […]

§ 19-9-606. Proclamation, order, etc., authorizing issuance of bonds

(a) Whenever a governmental unit shall determine the need to issue revenue bonds for capital improvements of a public nature or industrial enterprise, the governing body shall authorize the issuance of those bonds by proclamation, order, ordinance, or resolution clearly stating the principal amount of and the purpose or purposes for which the bonds are […]

§ 19-9-607. Hearing

(a) No proclamation, order, or ordinance prescribed by § 19-9-606 shall be entered by a governing body until the governing body, the governmental unit, or the delegate of either shall have conducted a public hearing: (1) In the case of a regional water distribution district, regional wastewater district, or regional solid waste management district issuing […]