Ark. Code Ann. » Title 26 Chapter 75
Arkansas Code Annotated

Ark. Code Ann. § 26-75-613 (2020)

Pledge of revenues

✓ Arkansas Code release r76: Acts through about 2020 (2021-2025 sessions missing)
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History. Acts 1965, No. 185, § 6; 1971, No. 188, § 1; 1975, No. 977, §§ 1, 2; 1979, No. 727, §§ 1, 2; A.S.A. 1947, §§ 19-4617, 19-4618, 19-4619; Acts 1993, No. 364, § 10.

Publisher's Notes. See Publisher's notes to § 26-75-602.

Case Notes

Constitutionality.

City revenue bonds issued to pay the costs of the city's portion of a proposed convention center-hotel complex are, under § 26-75-610 special obligations of the city, secured and payable; thus Ark. Const., Amend. 20, which does not prohibit the pledging of public revenues if the state is not obligated, is not violated, since the bondholders must look solely to special funds not available for general purposes for payment. Purvis v. Hubbell, 273 Ark. 330, 620 S.W.2d 282 (1981).

Notes of Decisions
Cited in 1 case, 1994–1994 · leading case: Mertz v. States, 885 S.W.2d 853 (Ark. 1994).
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Mertz v. States, 885 S.W.2d 853 (Ark. 1994). · cites it 4× “The bond-authorizing ordinance must specify the nature, extent of the pledge, terms, conditions and covenants, including a covenant that the hotel and restaurant tax will be collected so long as the bonds are outstanding.”
Ark. Code Ann. § 26-75-613(a)(2): 1 case
Mertz v. States, 885 S.W.2d 853 (Ark. 1994). “The bond-authorizing ordinance must specify the nature, extent of the pledge, terms, conditions and covenants, including a covenant that the hotel and restaurant tax will be collected so long as the bonds are outstanding.”
Ark. Code Ann. § 26-75-613(b)(3)(A): 1 case
Mertz v. States, 885 S.W.2d 853 (Ark. 1994). “The bond-authorizing ordinance must specify the nature, extent of the pledge, terms, conditions and covenants, including a covenant that the hotel and restaurant tax will be collected so long as the bonds are outstanding.”
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