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14-125-801. Petition to borrow money or issue bonds, etc.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-125-801. Petition to borrow money or issue bonds, etc.
(a) The board of directors may petition the chancery court for authority to borrow money or issue bonds or other evidences of indebtedness.
(b) The petition of the board shall state whether it is desired that those bonds or other evidences of indebtedness shall be made payable from the proceeds of any revenues derived from the operation of the works of improvement included in the approved plan or from the proceeds of taxes levied against the land within the project area.
(c) The order of the court authorizing the issuance of the bonds or other evidences of indebtedness shall specify which sources shall be liable for the payments of the principal and interest thereon.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-125-801
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:14-125-801
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 728f83d3ce1c20cb2425855b81b454aa4268bb30de7accaeda71bc7056dbdd9f
Source location: content.xml paragraph 33953
Stored source content
14-125-801. Petition to borrow money or issue bonds, etc.
(a) The board of directors may petition the chancery court for authority to borrow money or issue bonds or other evidences of indebtedness.
(b) The petition of the board shall state whether it is desired that those bonds or other evidences of indebtedness shall be made payable from the proceeds of any revenues derived from the operation of the works of improvement included in the approved plan or from the proceeds of taxes levied against the land within the project area.
(c) The order of the court authorizing the issuance of the bonds or other evidences of indebtedness shall specify which sources shall be liable for the payments of the principal and interest thereon.
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