6-2-110. Power to borrow for the construction of facilities.

Arkansas Code — all titles (historical 2020) · legal_authorities

6-2-110. Power to borrow for the construction of facilities.

6-2-110. Power to borrow for the construction of facilities. The governing body of a corporation organized under the provisions of this chapter shall have the power, for and on behalf of the corporation: (1) To borrow money from time to time for construction of facilities for its corporate purposes; (2) To evidence such indebtedness by promissory notes, bonds, or other negotiable evidences of indebtedness; (3) To secure the payment and the interest on the money borrowed by mortgage, pledge, conveyance, or assignment in trust of the whole or any part of the real and personal property of the corporation, whether at the time owned or thereafter acquired; and (4) To sell, pledge, and otherwise dispose of bonds or other obligations of the corporation issued for its corporate purposes.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-2-110

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.