§ 26-78-111 - Election required. - Arkansas Statutes

26-78-111. Election required.

(a) Revenue bonds may be issued only with the approval of a majority of the qualified electors of the municipality or county voting at an election called for that purpose.

(b) An election on the question of issuing revenue bonds shall be held at such time as the governing body of the municipality or the county court of a county shall designate by ordinance or order.

(c) The ordinance or order shall specifically state the purpose for which the bonds are to be issued, the total amount of the issue, and the date upon which the election is to be held, which date shall not occur earlier than thirty (30) days after the passage of the ordinance or the entering of the order.

(d) The election shall be held and conducted, the vote canvassed, and the results declared in the manner provided for municipal or county elections, so far as they may be applicable, except as otherwise provided.

(e) Notice of the election shall be given by the governing body of the municipality or the county in a newspaper of general circulation within the municipality or county one (1) time a week for four (4) consecutive weeks, with the last publication to be not less than ten (10) days prior to the date of the election.

(f) Only qualified electors of the municipality or county shall have a right to vote at the election, and the results of the election shall be proclaimed by the governing body of the municipality or county and shall be conclusive unless attacked in the courts within thirty (30) days after the date of the proclamation.