The profits from the operation of any electric power plant or waterworks system shall not be used for the purposes set forth in § 14-89-903 until such expenditures by a municipal improvement district have first been authorized by resolution duly adopted by the council of the city or town.
Structure Arkansas Code
Subtitle 5 - Improvement Districts Generally
Chapter 89 - Fiscal Affairs of Municipal Improvement Districts
§ 14-89-903. Purpose of expenditures
§ 14-89-904. Special account to pay bonds
§ 14-89-905. Depreciation and reserve accounts — Improvements
§ 14-89-906. Approval by municipal council
§ 14-89-907. Allocation of profits to districts and municipality