AR HB1636

Adds Arkansas Code § 14-72-104 authorizing revenue bonds to be issued for water systems, sewer systems, or combined water and sewer systems under receivership for municipalities, public facilities boards, and public water authorities.

Permits revenue bonds to finance operating costs, capital improvements, repairs and replacements, refunding of prior indebtedness, water purchase costs, wastewater treatment costs, and other court-approved system-related costs incurred before or during receivership.

Requires court approval from the jurisdiction overseeing the receivership before a receiver may issue revenue bonds on behalf of the system owner.

Obligates the municipality, public facilities board, or public water authority owning the system to repay bond indebtedness and interest from system revenues during the bond term.

Authorizes revenue bonds to be issued under the Local Government Capital Improvement Revenue Bond Act, waterworks statutes, municipal sewage system statutes, Public Facilities Boards Act, or Water Authority Act depending on the system owner type.