No franchises, contracts, or other obligations of an extraordinary nature, or other than those necessary for the ordinary and usual running of the affairs of either municipal corporation, which have been granted, made, or created by either municipal corporation after the passage of an ordinance favoring annexation, and prior to the consummation of the annexation, shall be valid and binding against the consolidated municipality, or any part thereof, in the event that a consolidation is effected within sixty (60) days after passage of the ordinance, unless they shall be afterward ratified by the consolidated city or incorporated town.
Structure Arkansas Code
Subtitle 3 - Municipal Government
Chapter 40 - Annexation, Consolidation, and Detachment by Municipalities
Subchapter 6 - Annexation Proceedings by Adjoining Landowners
§ 14-40-601. Application by petition
§ 14-40-602. Hearing on petition
§ 14-40-603. Order for annexation
§ 14-40-604. Proceedings to prevent annexation
§ 14-40-605. Confirmation of annexation
§ 14-40-606. Rights and privileges of new inhabitants
§ 14-40-608. Right to detach certain lands after annexation proceeding
§ 14-40-609. Annexation by 100% petition — Definition
§ 14-40-1201. Petition for consolidation
§ 14-40-1202. Special election called
§ 14-40-1203. Election results
§ 14-40-1204. Contest of election
§ 14-40-1205. Division of smaller municipality into wards
§ 14-40-1206. Plat of consolidated municipality
§ 14-40-1207. Special election of council members or all city officials
§ 14-40-1208. Existing officers, etc
§ 14-40-1210. Payment of existing debts
§ 14-40-1211. Prior debts not preferred
§ 14-40-1212. Rights of annexed territory to benefits of its revenues
§ 14-40-1213. Franchises, contracts, and other obligations
§ 14-40-1801. Proceedings generally