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14-87-108. Refunding bonds of consolidated district.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-87-108. Refunding bonds of consolidated district.
(a) Where a subsidiary district is established as provided in § 14-87-107, the indebtedness of the subsidiary district may be refunded in the same manner as is provided for the refunding of the indebtedness of the taxing districts.
(b) The governing body of the taxing district may take up all or a part of the indebtedness of the subsidiary district, including such annual maturities of principal or interest as may be allotable to the lands of the subsidiary district included in the taxing district.
(c) In order to enable the taxing district to pay such indebtedness, it may issue and sell the refunding bonds or certificates of indebtedness either of the taxing or subsidiary district.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-87-108
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:14-87-108
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 5e94dc6f45363920264ce7c688cac2b8c8494beb4496163e7efc8419ae835c10
Source location: content.xml paragraph 21910
Stored source content
14-87-108. Refunding bonds of consolidated district.
(a) Where a subsidiary district is established as provided in § 14-87-107, the indebtedness of the subsidiary district may be refunded in the same manner as is provided for the refunding of the indebtedness of the taxing districts.
(b) The governing body of the taxing district may take up all or a part of the indebtedness of the subsidiary district, including such annual maturities of principal or interest as may be allotable to the lands of the subsidiary district included in the taxing district.
(c) In order to enable the taxing district to pay such indebtedness, it may issue and sell the refunding bonds or certificates of indebtedness either of the taxing or subsidiary district.
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-87-107. Consolidation of districts.
(a) Where lands of a road, levee, drainage, or other local improvement district are included, in whole or in part, in another district whose indebtedness is being refunded, the first district may become a subsidiary district of the second or taxing district insofar as related to those lands of the first district which may be embraced or included in the second district.
(b) Consolidation may be effected at the same time, in the same manner, and in the same proceeding as is the refunding of the indebtedness of the taxing district.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-87-107
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 14-87-107. This identifies an authority to review, not proof of applicability.