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14-121-441. Issuing bonds and evidences of debt to hasten work — Terms of bonds.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-121-441. Issuing bonds and evidences of debt to hasten work — Terms of bonds.
(a) In order to hasten work, the board may borrow money at a rate of interest as provided for in a resolution of the commissioners, may issue negotiable bonds therefor, signed by the members of the board, and may pledge all assessments for the repayment thereof. It may also issue to the contractors who do the work its negotiable evidences of debt, bearing interest at such rate or rates as determined by the board.
(b) No bonds issued under the terms of this act shall run for more than thirty (30) years. All issues of bonds may be divided so that a portion thereof may mature each year as the assessments are collected, or they may all be made payable at the same time, with proper provision for a sinking fund.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-121-441
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:14-121-441
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 91250972b79e2527bb4519d5fcfa75e0567cd38460592d373e9cf27b338dfee9
Source location: content.xml paragraph 31466
Stored source content
14-121-441. Issuing bonds and evidences of debt to hasten work — Terms of bonds.
(a) In order to hasten work, the board may borrow money at a rate of interest as provided for in a resolution of the commissioners, may issue negotiable bonds therefor, signed by the members of the board, and may pledge all assessments for the repayment thereof. It may also issue to the contractors who do the work its negotiable evidences of debt, bearing interest at such rate or rates as determined by the board.
(b) No bonds issued under the terms of this act shall run for more than thirty (30) years. All issues of bonds may be divided so that a portion thereof may mature each year as the assessments are collected, or they may all be made payable at the same time, with proper provision for a sinking fund.
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