The people of the State of Arkansas by the adoption of Arkansas Constitution, Amendment 62, have expressed their intention to provide county and municipal governments expanded powers and authority with respect to the creation of bonded indebtedness for capital improvements of a public nature and the financing of economic development projects, and have empowered the General Assembly to define and prescribe certain matters with respect to the exercise of this power and authority. To that end this subchapter is adopted to enable the accomplishment and realization of the public purposes intended by Arkansas Constitution, Amendment 62, and is not intended to otherwise limit in any manner the exercise of the powers of counties and municipalities.
Ark. Code Ann. § 14-164-302
Legislative intent
Applied in 2 court decisions — leading case Mississippi County v. City of Osceola (2017)
Most recently applied in 2019 Ark. App. 374 - The City of Magnolia v. Dennis Milligan, in His Official Capacity as Treasurer of the State of Arkansas; Larry Atkinson, in His Official Capacity as County Judge for Columbia County; And Selena Blair, in Her Official Capacity as County Treasurer for Columbia County (September 2019)
Acts 1985, No. 871, § 2; A.S.A. 1947, § 13-1240; Acts 2017, No. 533, § 1.
Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.