Ark. Code Ann. § 14-202-108: Bonds - Issuance generally

(a) Municipalities are authorized to use any available funds and revenues to pay and provide for costs and expenses of accomplishing the purposes authorized by this chapter and, for the purpose of paying project costs or the portion thereof pertaining to its interest in the project, a municipality may issue revenue bonds as provided in this chapter.

(b) The issuance of bonds shall be by an ordinance of the governing body of the municipality.