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6-20-1215. Approval of bond issues.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-20-1215. Approval of bond issues.
(a) Before any school district shall issue bonds for the purposes described in § 6-20-1201, the issue shall be approved by the State Board of Education.
(b) If the school district has done everything necessary to comply with the law to authorize it to sell bonds except securing the approval of the state board, and if the state board does not meet for thirty (30) days, then in its discretion, the state board shall have the authority to authorize the Commissioner of Education to approve the issue of bonds.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-20-1215
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:6-20-1215
Source file: gov.ar.code.title.06.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 6ce743a53001957d5fdba6a5f08969dd676714cebde7c8acc7057d39a9b52fa3
Source location: content.xml paragraph 22006
Stored source content
6-20-1215. Approval of bond issues.
(a) Before any school district shall issue bonds for the purposes described in § 6-20-1201, the issue shall be approved by the State Board of Education.
(b) If the school district has done everything necessary to comply with the law to authorize it to sell bonds except securing the approval of the state board, and if the state board does not meet for thirty (30) days, then in its discretion, the state board shall have the authority to authorize the Commissioner of Education to approve the issue of bonds.
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Arkansas Code — all titles (historical 2020) · legal_authorities
6-20-1201. Authority to borrow money and issue negotiable bonds.
A school district may borrow money and issue negotiable bonds to repay borrowed moneys from school funds for:
(1) Building and equipping school buildings;
(2) Making additions and repairs to school buildings;
(3) Purchasing sites for school buildings;
(4) Purchasing new or used school buses;
(5) Refurbishing school buses;
(6) Providing professional development and training of teachers or other programs authorized under the federally recognized qualified zone academy bond program, 26 U.S.C. § 1397E [repealed];
(7) Paying off outstanding postdated warrants, installment contracts, revolving loans, and lease-purchase agreements, as provided by law; and
(8) In the case of a new school district created under § 6-13-1505:
(A) Purchasing school buildings and other structures;
(B) Purchasing new or used furniture, fixtures, and equipment;
(C) Paying the costs of the allocation of assets to the new school district; and
(D) Paying or retiring the outstanding indebtedness of the original school district that the new school district has become responsible for under § 6-13-1505.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-20-1201
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 6-20-1201. This identifies an authority to review, not proof of applicability.