Ark. Code § 14-164-507
Municipalities and counties are authorized to use any available revenues for the accomplishment of the purposes set forth in § 14-164-506, and are authorized to issue revenue bonds and to use the proceeds thereof for the accomplishment of the purposes set forth in § 14-164-506, either alone or together with other available funds and revenues. The bonds may be issued in an amount sufficient to pay all costs of accomplishing the specified purposes; all costs of issuing the bonds; the amount necessary for a reserve, if desirable; the amount necessary to provide for debt service on the bonds until revenues for the payment thereof are available; and any other costs of whatever nature necessarily incidental to the accomplishment of the specified purposes. In addition, revenue bonds are authorized for the purpose of refunding bonds as provided in § 14-164-525.
Ark. Code § 14-164-507