2014 Arkansas Code
Title 14 - Local Government
Subtitle 4 - Public Finance Generally
Chapter 78 - Local Government Short-Term Financing Obligations
§ 14-78-102 - Definitions.
As used in this chapter, unless the context otherwise requires:
(1) "Chief executive" means the mayor of a municipality or the county judge of a county;
(2) "County" means any county in the State of Arkansas;
(3) "Issue" means, depending on the type of obligation, to issue, enter into, or incur;
(4) "Issue date" means the date on which the obligation commences to bear interest;
(5) "Issuer" means a municipality or a county;
(6) "Legislative body" means the quorum court of a county or the council, board of directors, board of commissioners, or similar elected governing body of a municipality;
(7) "Mortgage lien" means a lien on or security interest in real property or personal property, financed or refinanced, in whole or in part, with the proceeds of obligations;
(8) "Obligations" means short-term financing obligations;
(9) "Short-term financing agreement" means any loan agreement, line of credit agreement, note purchase agreement, security agreement, mortgage, trust indenture, or other agreement, other than the short-term financing obligation itself, pursuant to which a short-term financing obligation is secured, sold, or otherwise provided for; and
(10) "Short-term financing obligations" means "short-term financing obligations" within the meaning of Arkansas Constitution, Amendment 78.
Disclaimer: These codes may not be the most recent version. Arkansas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.