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14-218-121. Retirement of bonds of separate districts before maturity.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-218-121. Retirement of bonds of separate districts before maturity.
(a) The board of improvement of the consolidated district is authorized to pay any notes or bonds given by either of the separate districts before the notes or bonds become due including accrued interest on the notes or bonds up until the date of payment.
(b) In order to facilitate the retirement of the notes or bonds, the board at its option, may pay, in addition to the face value and accrued interest on any bond or note, a premium of not exceeding one-half of one percent (½ of 1%) for each full year that the payment of the note or bond is anticipated.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-218-121
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:14-218-121
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 69921e147badfc01961a86a49167e39f4268f1eef8954f350a220ce98dc94eaa
Source location: content.xml paragraph 46977
Stored source content
14-218-121. Retirement of bonds of separate districts before maturity.
(a) The board of improvement of the consolidated district is authorized to pay any notes or bonds given by either of the separate districts before the notes or bonds become due including accrued interest on the notes or bonds up until the date of payment.
(b) In order to facilitate the retirement of the notes or bonds, the board at its option, may pay, in addition to the face value and accrued interest on any bond or note, a premium of not exceeding one-half of one percent (½ of 1%) for each full year that the payment of the note or bond is anticipated.
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