The board is hereby authorized to use any available funds and revenues for the accomplishment
of all or a portion of public facilities bridge projects authorized in section 2-335 and may issue bonds, as authorized by the Public Facilities Board Act, for the accomplishment
of all or a portion of public facilities bridge projects authorized in section 2-335, either alone or together with other available funds and revenues. Bonds may be issued
in such principal amounts as shall be sufficient to pay the costs accomplishing the
public facilities projects involved; the cost of issuing bonds; the amount necessary
for a reserve, if deemed desirable; the amount necessary to provide for debt service
until revenues for the payment thereof are available; the amount necessary to acquire
a contract providing for payments to the board at a rate or rates at least sufficient
to provide for, alone or with any other revenues that may be pledged, debt service
on the bonds, if deemed desirable; and to pay any other costs and expenditures of
whatever nature incidental to the accomplishment of all or a portion of the public
facilities bridge project as authorized in section 2-335 and the placing of such facilities in operation. The board shall annually contract
with a certified public accountant to perform an audit of the board's revenues which
are not pledged to outstanding bonded indebtedness. The board shall furnish a copy
of the audit report to Pulaski County, and the board shall make the audit report available
to the public for inspection under the Freedom of Information Act (codified as Ark.
Code Ann. § 25-19-101 et seq.)
Pursuant to the requirements of Ark. Code Ann. §§ 14-137-110 and 111, no funds shall
be expended by the board without (1) authorization by the affirmative vote of a majority
of the members of the board, (2) duly recorded by the secretary in the minutes of
the meeting, and (3) supported by documentation justifying the lawful expenditure
of public funds.
(Ord. No. 02-OR-22, Art. 7, 4-23-02)
var val = document.getElementById('citecontent').innerHTML;
art.dialog.defaults.title = window.location.href;
art.dialog.data('cite', val);
art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');
