Whenever a legislative body determines the need to issue bonds for capital improvements or economic development projects, the legislative body shall authorize the issuance of the bonds by ordinance specifying the principal amount of bonds to be issued, the purpose or purposes for which the bonds are to be issued, and the maximum rate of any ad valorem tax to be levied and pledged to the retirement of the bonds.
Ark. Code Ann. § 14-164-308
Bonds generally — Authorizing ordinance
Acts 1985, No. 871, § 4; A.S.A. 1947, § 13-1242; Acts 2017, No. 533, § 6.
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.