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14-88-501. Sale or lease of improvements.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-88-501. Sale or lease of improvements.
(a) Any improvement district organized under the provisions of this chapter after February 1, 1967, may sell or lease its improvement, or any part thereof, to the city or town or to a public authority or other agency serving on behalf of the property owners of the district on such terms as the commissioners of the improvement board may deem for the best interest of the district and apply the proceeds therefrom on the payment of the principal of and interest on its outstanding bonds, if any, together with any paying agent's or other charges in connection therewith.
(b) The city or town within which the district is located is authorized to purchase or to lease as lessee and to operate the improvement of the district on such terms as it may agree with the commissioners.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-88-501
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:14-88-501
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 34d73c6ef1b3875212328d674d7732a1d586793377b2041de947f6ae28f18239
Source location: content.xml paragraph 22577
Stored source content
14-88-501. Sale or lease of improvements.
(a) Any improvement district organized under the provisions of this chapter after February 1, 1967, may sell or lease its improvement, or any part thereof, to the city or town or to a public authority or other agency serving on behalf of the property owners of the district on such terms as the commissioners of the improvement board may deem for the best interest of the district and apply the proceeds therefrom on the payment of the principal of and interest on its outstanding bonds, if any, together with any paying agent's or other charges in connection therewith.
(b) The city or town within which the district is located is authorized to purchase or to lease as lessee and to operate the improvement of the district on such terms as it may agree with the commissioners.
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