(a) The State Highway Commission may provide in its resolution authorizing the issuance of the bonds or in the trust indenture executed in connection therewith that additional bonds may thereafter be authorized and issued, at one (1) time or from time to time, when necessary for the completion of the construction or reconstruction of any bridge and the acquisition, construction, and reconstruction of approaches thereto, or for the completion of the construction of any ferry and the acquisition and construction of approaches thereto.
(b) Additional bonds will be secured and be payable from the revenues of the bridge or ferry equally with all other bonds issued pursuant to the resolution, without preference or distinction between any one bond and any other bond by reason of priority of issuance or otherwise.
Structure Arkansas Code
Subtitle 6 - Bridges And Ferries
Chapter 88 - Bonds For Construction And Operation
§ 27-88-101. Liberal construction
§ 27-88-103. Scope of authority
§ 27-88-104. Authority to issue bonds — Use of funds
§ 27-88-106. Redemption before maturity
§ 27-88-109. No right arises until issuance and sale
§ 27-88-110. Investment of proceeds from sale
§ 27-88-111. Temporary notes or bonds
§ 27-88-112. Notes and bonds as negotiable instruments
§ 27-88-114. Sinking fund for payment of bonds
§ 27-88-115. Operation and maintenance fund
§ 27-88-116. Tolls, rates, and fees
§ 27-88-117. Bonds payable solely from bridge or ferry revenues
§ 27-88-118. Additional bond issues — Equality
§ 27-88-119. Contracts with United States or other states