The Arkansas Supreme Court and Municipal Revenue Bonds

Authors

• Morton Gitelman, University of Arkansas School of Law

Keywords

public credit, bonds, plurality opinion, municipal revenue bonds

Abstract

When the Arkansas Supreme Court decided the case of Purvis v. City of Little Rock in the spring of 1984, a great deal of uncertainty was evident in the municipal bond market. The court held invalid a bond issue by the City of Little Rock for the purpose of constructing a motel on land purchased by the city. Because of the five separate opinions in the case, a plurality opinion, two concurring opinions, and two dissenting opinions, some confusion about the precise basis for striking down the bonds was inevitable. The purpose of this article is to place Purvis in its historical context, and to examine the Arkansas judicial treatment of municipal revenue

Recommended Citation

Morton Gitelman , The Arkansas Supreme Court and Municipal Revenue Bonds, 1985 Ark. L. Notes