Section 14-203-119 - Storm recovery costs(a) A municipality shall not issue bonds for the sole purpose of paying storm recovery costs related to a storm unless:(1) The Arkansas Public Service Commission has previously adopted a financing order that allows for the issuance of storm recovery bonds by a public utility due to the same storm; or(2) Upon request to the commission for an emergency storm declaration.(b) A municipality that issues bonds for the purpose of payment of storm recovery costs shall take reasonable steps to mitigate the financial impact of bonds on customers of a municipal electric utility by:(1) Pursuing recovery of costs incurred during storm recovery operations that were unnecessary or unreasonable; and(2) Utilizing any grant funding or assistance to reduce the amount of storm recovery costs that may be available to the municipality.Added by Act 2021, No. 903,§ 4, eff. 4/26/2021.