§ 14-232-104 - Revenue bonds -- Power to issue -- Amount. - Arkansas Statutes

14-232-104. Revenue bonds -- Power to issue -- Amount.

(a) Counties and municipalities are authorized to use any available revenues for the accomplishment of the purposes set forth in 14-232-103(a), including the proceeds of revenue bonds issued under the authority of this chapter, either alone or together with other available funds and revenues.

(b) The amount of revenue bonds issued shall be sufficient to pay:

(1) The cost of accomplishing the specified purposes;

(2) The cost of issuing bonds;

(3) The amount necessary for a reserve, if desirable;

(4) The amount necessary to provide for debt service on bonds until revenues for the payment thereof are available; and

(5) Any other costs and expenditures of whatever nature incidental to the accomplishment of the specified purposes.