GroundRules
Ark. Code Ann. § 14-203-119: Storm recovery costs
Where this section sits in the code
- AR Code
- Title 14
- Chapter 203
(a) A municipality shall not issue bonds for the sole purpose of paying storm recovery costs related to a storm unless: (1) The Arkansas Public Service Commission has previously adopted a financing order that allows for the issuance of storm recovery bonds by a public utility due to the same storm; or (2) Upon request to the commission for an emergency storm declaration. (b) A municipality that issues bonds for the purpose of payment of storm recovery costs shall take reasonable steps to mitigate the financial impact of bonds on customers of a municipal electric utility by: (1) Pursuing recovery of costs incurred during storm recovery operations that were unnecessary or unreasonable; and (2) Utilizing any grant funding or assistance to reduce the amount of storm recovery costs that may be available to the municipality. Added by Act 2021, No. 903,§ 4, eff. 4/26/2021.
(a) A municipality shall not issue bonds for the sole purpose of paying storm recovery costs related to a storm unless: (1) The Arkansas Public Service Commission has previously adopted a financing order that allows for the issuance of storm recovery bonds by a public utility due to the same storm; or (2) Upon request to the commission for an emergency storm declaration.
(1) The Arkansas Public Service Commission has previously adopted a financing order that allows for the issuance of storm recovery bonds by a public utility due to the same storm; or
(2) Upon request to the commission for an emergency storm declaration.
(b) A municipality that issues bonds for the purpose of payment of storm recovery costs shall take reasonable steps to mitigate the financial impact of bonds on customers of a municipal electric utility by: (1) Pursuing recovery of costs incurred during storm recovery operations that were unnecessary or unreasonable; and (2) Utilizing any grant funding or assistance to reduce the amount of storm recovery costs that may be available to the municipality.
(1) Pursuing recovery of costs incurred during storm recovery operations that were unnecessary or unreasonable; and
(2) Utilizing any grant funding or assistance to reduce the amount of storm recovery costs that may be available to the municipality.
Collected 2026-09-17T21:35:43Z. Source file · JSON
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Arkansas electronic product files were republished by Public.Resource.Org under a public-domain mark. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows. Source