Arkansas § 14-95-605 - Bond fund.
Full text of Arkansas Arkansas Code of 1987 Annotated § 14-95-605 — Bond fund., with citation guidance and answers to common questions.
§ 14-95-605. Bond fund.
Commencing the first day of the month succeeding the issuance of the bonds under this chapter and so long as any bonds are outstanding under this chapter, the pledged revenues of each municipality's urban service district shall be periodically transferred to the authority and shall not be subject to appropriation by the municipality, but, as and when received by the authority, shall be deposited in a bank or banks selected by the authority to the credit of a fund designated as the “Urban Service District Revenue Bond Fund”, with appropriate identification for separate issues or series. So long as any bonds are outstanding under this chapter, all moneys in any bond fund shall be used solely for the payment of the principal of, premiums, if any, interest on, and trustees' and paying agents' fees in connection with the bonds, with the maintenance of necessary funds and reserves. Except that, the authorizing resolution or trust indenture may provide for the withdrawal, for other purposes, of surplus moneys, as defined in the authorizing resolution or trust indenture. Nothing in § 14-95-604, this section, or § 14-95-608 is intended to prohibit the authority from investing moneys received under this section, § 14-95-604, or § 14-95-608, as provided in this chapter.
Frequently Asked Questions About Arkansas § 14-95-605
What does Arkansas Code of 1987 Annotated § 14-95-605 cover?
Section 14-95-605 ("Bond fund.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 14-95-605?
A common citation format is "Arkansas Code of 1987 Annotated § 14-95-605" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 14-95-605 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.