As used in this chapter, unless the context otherwise requires:(1) 'Chief executive' means the mayor of a municipality or the county judge of a county;(2) 'County' means any county in the State of Arkansas;(3) 'Issue' means, depending on the type of obligation, to issue, enter into, or incur;(4) 'Issue date' means the date on which the obligation commences to bear interest;(5) 'Issuer' means a municipality or a county;(6) 'Legislative body' means the quorum court of a county or the council, board of directors, board of commissioners, or similar elected governing body of a municipality;(7) 'Mortgage lien' means a lien on or security interest in real property or personal property, financed or refinanced, in whole or in part, with the proceeds of obligations;(8) 'Obligations' means short-term financing obligations;(9) 'Short-term financing agreement' means any loan agreement, line of credit agreement, note purchase agreement, security agreement, mortgage, trust indenture, or other agreement, other than the short-term financing obligation itself, pursuant to which a short-term financing obligation is secured, sold, or otherwise provided for; and(10) 'Short-term financing obligations' ent, other than the short-term financing obligation itself, pursuant to which a short-term financing obligation is secured, sold, or otherwise provided for; and(10) 'Short-term financing obligations' means 'short-term financing obligations' within the meaning of Arkansas Constitution, Amendment 78.Acts 2001, No. 1808, § 2.
Arkansas Legal Code