§ 14-265-104 - Bonds -- Authority to issue. - Arkansas Statutes

14-265-104. Bonds -- Authority to issue.

(a) Municipalities and counties are authorized to use any available revenues for the accomplishment of the purposes set forth in 14-265-103 and are authorized to issue revenue bonds and to use the proceeds thereof for the accomplishment of the purposes set forth in 14-265-103 either alone or together with other available funds and revenues.

(b) The amount of bonds issued shall be sufficient to pay all costs and sums required and necessarily incidental to the accomplishment of the specified purposes and to the sale on the best possible basis and issuance of the bonds, including, without limitation, all costs and expenses of issuing the bonds, a reasonable reserve, and an amount covering interest to a date not in excess of six (6) months subsequent to the date of acquisition or the estimated date of completion, whichever is later.