There is a newer version of the Arkansas Code
2010 Arkansas Code
Title 14 - Local Government
Subtitle 10 - Economic Development And Tourism Generally
Chapter 164 - Industrial Development Bonds
Subchapter 3 - Local Government Bond Act
§ 14-164-308 - Bonds generally -- Authorizing ordinance.
14-164-308. Bonds generally -- Authorizing ordinance.Whenever a legislative body determines the need to issue bonds for capital improvement or industrial development purposes it shall authorize the issuance of the bonds by ordinance specifying the principal amount of bonds to be issued, the purpose or purposes for which the bonds are to be issued, and the maximum rate of any ad valorem tax to be levied and pledged to the retirement of the bonds.
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