§ 14-302-106 - Authority to issue bonds -- Costs. - Arkansas Statutes

14-302-106. Authority to issue bonds -- Costs.

(a) Municipalities are authorized and empowered to issue revenue bonds from time to time in principal amounts sufficient to pay the costs of street and parking projects as they are defined in subsection (c) of this section.

(b) More than one (1) street or parking project, or combination thereof, may be involved as to any issue of revenue bonds hereunder. There may be more than one (1) issue for a particular street or parking project, or combination thereof, or there may be one (1) issue sold and delivered in series.

(c) The costs of a street or parking project, or combination thereof, as the case may be, may include all costs incurred in connection with the accomplishing of the project, an amount covering interest in bonds during construction and for a period up to one (1) year thereafter, any amounts determined to be desirable by the municipality for funding debt service and maintenance reserves, and all expenses incurred in connection with the authorization and issuance of bonds.