§ 14-72-101 - Municipal water and sewer revenue bonds for repayment of water pollution control grants. - Arkansas Statutes

14-72-101. Municipal water and sewer revenue bonds for repayment of water pollution control grants.

(a) Any city of the first class, city of the second class, or incorporated town, hereinafter referred to as a "municipality", which has received from the Arkansas Department of Environmental Quality a water pollution control project grant funded from the proceeds of bonds of the department issued pursuant to 8-5-301 -- 8-5-318 may issue water revenue bonds under the provisions of 14-234-201 et seq., sewer revenue bonds under the provisions of 14-235-201 -- 14-235-224, or combined water and sewer revenue bonds for the purpose of refunding the bonds of the department issued to fund the grant.

(b) The refunding bonds may be combined with other bonds issued by the municipality under the provisions of 14-234-201 et seq. and 14-235-201 -- 14-235-224 into a single issue.

(c) All bonds issued under this section shall in all respects be authorized, sold, issued, and secured in the manner provided for other bonds issued under 14-234-201 et seq. and 14-235-201 -- 14-235-224 pursuant to which the refunding bonds are being issued.