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14-91-1106. Borrowing of money.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-91-1106. Borrowing of money.
In order to secure funds for the making and completion of the improvements in the improvement district according to the changed plans, the board of improvement may borrow money not exceeding the full amount of the estimated cost of making and completing the improvements, with ten percent (10%) added for overhead cost, at a rate of interest not exceeding eight percent (8%) per annum, and may issue negotiable notes or bonds of the district for the payment thereof, and pledge all uncollected assessments for the security of the payment of the notes or bonds.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-91-1106
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:14-91-1106
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 82396ec2008535a2dbf9cc84f134806b18388df1123a164813fcac6868593d26
Source location: content.xml paragraph 25040
Stored source content
14-91-1106. Borrowing of money.
In order to secure funds for the making and completion of the improvements in the improvement district according to the changed plans, the board of improvement may borrow money not exceeding the full amount of the estimated cost of making and completing the improvements, with ten percent (10%) added for overhead cost, at a rate of interest not exceeding eight percent (8%) per annum, and may issue negotiable notes or bonds of the district for the payment thereof, and pledge all uncollected assessments for the security of the payment of the notes or bonds.
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