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14-320-114. Borrowing money — Bond issues.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-320-114. Borrowing money — Bond issues.
In order to carry out the purposes for which the district is organized and created, the board of commissioners may borrow money at a rate of interest not exceeding six percent (6%) per annum and issue negotiable bonds therefor signed by the chairman or vice chairman and secretary when so authorized by the board of commissioners and may pledge all assessments of benefits for the repayment thereof. No bonds issued under the terms of this chapter shall run for more than thirty (30) years, and all issues of bonds may be divided so that a portion thereof may mature each year as the assessments are collected.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-320-114
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:14-320-114
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: b3f7919c01172de330a2aced6d33d5fc8d2d1c404c6e4ff3e02e726177c4842f
Source location: content.xml paragraph 57296
Stored source content
14-320-114. Borrowing money — Bond issues.
In order to carry out the purposes for which the district is organized and created, the board of commissioners may borrow money at a rate of interest not exceeding six percent (6%) per annum and issue negotiable bonds therefor signed by the chairman or vice chairman and secretary when so authorized by the board of commissioners and may pledge all assessments of benefits for the repayment thereof. No bonds issued under the terms of this chapter shall run for more than thirty (30) years, and all issues of bonds may be divided so that a portion thereof may mature each year as the assessments are collected.
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