Fort Smith Sewer Bond
Bonds of the City of Fort Smith in themaximum aggregate principal amountof $385,000,000 to finance costs ofbetterments and improvements to theCity s sewer system includingparticularly, without limitation, consentdecree sewer improvements and, inorder to pay the bonds, the pledge of37.5% of collections received by theCity of a 1% local sales and use taxwithin the City levied by the City underOrdinance No. 72-85 of the Cityadopted August 13, 1985, as amended,and the pledge of 83.3% of thecollections received by the City of a0.75% local sales and use tax withinthe City levied by the City underOrdinance No. 20-22 of the Cityadopted February 22, 2022, asamended. Consent decree sewerimprovements include projectsrequired by the Consent Decree withthe United States EnvironmentalProtection Agency, the United StatesDepartment of Justice and theArkansas Department of EnvironmentalQuality addressing the City scompliance with the federal CleanWater Act involving dry and wetweather overflows from the sewersystem. Proceeds of the bonds mayfund a debt service reserve and payexpenses of issuing and insuring thebonds. The bonds may be issued atone time or in series from time to time.https://www.fortsmithar.gov/home/showdocument?id=12588&t=638784898645955264
