(a) The net revenues from a joint operation shall be used first to pay the principal and interest as they mature of revenue bonds issued under this subchapter.
(b) Any remaining net revenues may be used to provide funds or pay bonds and interest issued for improvements, extensions, and betterments.
Structure Arkansas Code
Subtitle 5 - Improvement Districts Generally
Chapter 92 - Suburban Improvement Districts
Subchapter 3 - Consolidated Systems for Joint Operation
§ 14-92-301. Authority to contract
§ 14-92-302. Commission members
§ 14-92-303. Authority as body politic
§ 14-92-304. Resolution for financial matters
§ 14-92-305. Notice and hearing on bonds
§ 14-92-306. Borrowing of money
§ 14-92-307. Schedule of rates
§ 14-92-308. Use of net revenues