Arkansas § 14-78-102 - Definitions.

§ 14-78-102. Definitions.

As used in this chapter, unless the context otherwise requires: “Chief executive” means the mayor of a municipality or the county judge of a county; “County” means any county in the State of Arkansas; “Issue” means, depending on the type of obligation, to issue, enter into, or incur; “Issue date” means the date on which the obligation commences to bear interest; “Issuer” means a municipality or a county; “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; “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; “Obligations” means short-term financing obligations; “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 “Short-term financing obligations” means “short-term financing obligations” within the meaning of Arkansas Constitution, Amendment 78.