Browse Arkansas Code titles and sections
14-184-124. Bonds — Sale.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-184-124. Bonds — Sale.
(a) The bonds may be sold for such price, including without limitation sale at a discount, and at such rate of interest and in such manner as the board may determine by resolution.
(b) [Repealed].
(c) [Repealed].
(d) [Repealed].
(e) Any bank, savings and loan association, or other financial institution regulated by an agency of the state in which it is incorporated, or the federal government may bid upon and purchase these bonds, notwithstanding the fact that a director, officer, employee, or shareholder of that financial institution is a member of the board of the district, and the provisions of §§ 14-88-309, 14-88-310, and 14-88-402 shall not apply to any such transaction.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-184-124
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:14-184-124
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: cfbe9ae2ddb81172b9aa4d7aaaf595b4c62fdb841bc4952ca76dd23a28eafcd3
Source location: content.xml paragraph 42692
Stored source content
14-184-124. Bonds — Sale.
(a) The bonds may be sold for such price, including without limitation sale at a discount, and at such rate of interest and in such manner as the board may determine by resolution.
(b) [Repealed].
(c) [Repealed].
(d) [Repealed].
(e) Any bank, savings and loan association, or other financial institution regulated by an agency of the state in which it is incorporated, or the federal government may bid upon and purchase these bonds, notwithstanding the fact that a director, officer, employee, or shareholder of that financial institution is a member of the board of the district, and the provisions of §§ 14-88-309, 14-88-310, and 14-88-402 shall not apply to any such transaction.
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-88-309. Interest in contracts unlawful — Penalty.
(a) It shall be unlawful for any board of improvement, or any member thereof, in any city or town in this state to be interested, either directly or indirectly, in any contract made by the board for, or on behalf of, any improvement district.
(b) Any person violating the provisions of this section commits a felony and shall be:
(1) Fined in any sum not less than five hundred dollars ($500) nor more than five thousand dollars ($5,000); and
(2) Imprisoned in the state penitentiary not less than one (1) year nor more than ten (10) years.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-88-309
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. The source passage cites 14-88-309. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-88-310. Interest in loans unlawful — Penalty.
(a) It shall be unlawful for a municipal board of improvement, or any member thereof, to:
(1) Loan the funds, or to be interested in the loan of the funds, raised in any improvement district; or
(2) Apply or use the funds for any purpose except the purpose for which they were raised; or
(3) Purchase, or to be interested in the purchase of, any lot or lands sold for the payment of delinquent assessments; or
(4) Loan money or furnish money or credit to any person, company, or corporation to make such a purchase.
(b) Any person violating the provisions of this section commits a felony and shall be:
(1) Fined in any sum not less than five hundred dollars ($500) nor more than five thousand dollars ($5,000); and
(2) Imprisoned in the state penitentiary not less than one (1) year nor more than ten (10) years.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-88-310
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. The source passage cites 14-88-310. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-88-402. Unlawful actions by subordinate officers — Penalty.
(a) It shall be unlawful for the collector or treasurer of a municipal improvement district, or for any other subordinate officer appointed by the board of improvement, to loan or use, or to be interested in the loan or use of, any funds raised by the district.
(b) Any person violating the provisions of this section commits a felony and shall be:
(1) Fined in any sum not less than five hundred dollars ($500) nor more than five thousand dollars ($5,000); and
(2) Imprisoned in the state penitentiary not less than one (1) year nor more than ten (10) years.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-88-402
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. The source passage cites 14-88-402. This identifies an authority to review, not proof of applicability.