§ 14-164-209 - Bonds -- Issuance -- Authorizing resolution. - Arkansas Statutes

14-164-209. Bonds -- Issuance -- Authorizing resolution.

(a) The issuance of revenue bonds shall be by an ordinance of the municipality or an order of the county court, as the case may be.

(b) In the ordinance of the municipality or the order of the county court authorizing the issuance of revenue bonds, the municipality or the county may:

(1) Provide for the initial issuance of one (1) or more bonds aggregating the principal amount of the entire issue and may, in the ordinance or order, make such provisions for installment payments of the principal amount of the bonds as it may consider desirable; and

(2) Provide for the bonds to be payable to the bearer with interest coupons, or to be registrable as to principal only with interest coupons, or to be registrable as to principal and interest, and where interest accruing thereon is not represented by interest coupons, for the endorsement of payment of interest on the bonds.