Stricken language would be deleted from and underlined language would be added to present law.
1 State of Arkansas
2 93rd General Assembly A Bill
3 Regular Session, 2021 SENATE BILL 282
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5 By: Senator M. Johnson
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7 For An Act To Be Entitled
8 AN ACT TO AMEND ARKANSAS LAW CONCERNING CONSOLIDATED
9 WATERWORKS SYSTEMS; TO AMEND THE GENERAL POWERS OF A
10 PUBLIC BODY; TO AUTHORIZE FINANCING IMPROVEMENTS WITH
11 REVENUE BONDS; AND FOR OTHER PURPOSES.
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14 Subtitle
15 TO AMEND ARKANSAS LAW CONCERNING
16 CONSOLIDATED WATERWORKS SYSTEMS; TO AMEND
17 THE GENERAL POWERS OF A PUBLIC BODY; AND
18 TO AUTHORIZE FINANCING IMPROVEMENTS WITH
19 REVENUE BONDS.
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22 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:
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24 SECTION 1. Arkansas Code 25-20-306(a), concerning the general powers
25 of a public body under the Consolidated Waterworks Authorization Act, is
26 amended to add additional subdivisions to read as follows:
27 (18)(A) Own, acquire, construct, reconstruct, equip, improve,
28 operate, maintain, sell, lease, or otherwise deal or dispose of any land,
29 buildings, or facilities that can be used for residential or multifamily
30 housing or commercial or industrial purposes in furtherance or support of
31 community redevelopment, utilization of stranded waterworks infrastructure,
32 or economic development; and
33 (B) In furtherance of the powers provided under
34 subdivision (a)(18)(A) of this section, public body under this subchapter may
35 exercise any and all of its other powers including without limitation the
36 power to borrow money and to provide security for or payment of borrowed
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1 money; and
2 (19) Provide the following plumbing services, subject to the
3 Arkansas Plumbing Code, for a fee to retail customers of the public body,
4 including without limitation:
5 (A) Services related to pressure reduction devices and
6 backflow prevention devices, including without limitation:
7 (i) Removal;
8 (ii) Storage;
9 (iii) Testing;
10 (iv) Repair;
11 (v) Replacement; and
12 (vi) Installation;
13 (B) Sprinkler system maintenance and repair;
14 (C) Service line repair and replacement; and
15 (D) Leak detection.
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17 SECTION 2. Arkansas Code 25-20-310, concerning improvements and
18 financing with revenue bonds under the Consolidated Waterworks Authorization
19 Act, is amended to add an additional subsection to read as follows:
20 (k)(1) The public body created under this subchapter may issue bonds
21 for projects in furtherance or support of community redevelopment,
22 utilization of stranded infrastructure, or economic development authorized by
23 this subsection.
24 (2) Bonds issued under this subsection may be used to finance
25 the following projects:
26 (A) Wastewater system improvements;
27 (B) Storm water system improvements;
28 (C) Residential or multifamily housing; and
29 (D) Commercial or industrial facilities.
30 (3) Bonds issued under this subsection may be used to finance,
31 in whole or in part, the project's or project:
32 (A) Design;
33 (B) Construction;
34 (C) Reconstruction;
35 (D) Equipping;
36 (E) Maintenance;
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1 (F) Improvement;
2 (G) Repair; and
3 (H) Replacement.
4 (4) Bonds issued under this subsection may be used to finance,
5 in whole or in part:
6 (A) Interest during the period of construction of the
7 project;
8 (B) Reserves for the bonds;
9 (C) Costs of issuing the bonds; and
10 (D) Any other costs and expenditures of whatever nature
11 incidental to the accomplishment of the project.
12 (5) The bonds issued under this subsection shall be payable
13 solely from revenues derived from the project being financed.
14 (6) The public body is not required to comply with subsections
15 (e) and (f) of this section when issuing bonds under this subdivision.
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Statutes affected:
SB 282: 25-20-306(a), 25-20-310