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6-20-802. Purposes of loan.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-20-802. Purposes of loan.
Subject to the conditions and limitations contained in this subchapter, any school district may borrow and the State Board of Education may lend moneys in the Revolving Loan Fund for any of the following purposes:
(1) The funding of its legally issued and outstanding postdated warrants;
(2) The purchase of new or used school buses or the refurbishing of school buses;
(3) The payment of premiums on insurance policies covering its school buildings, facilities, and equipment in instances in which the insurance coverage extends three (3) years or longer;
(4) The replacement of or payment of the school district's pro rata part of the expense of employing professional appraisers as authorized by § 26-26-601 et seq. [repealed] or other laws providing for the appraisal or reappraisal and assessment of property for ad valorem tax purposes;
(5) The making of major repairs and the construction of additions to existing school buildings and facilities;
(6) The purchase of surplus buildings and equipment;
(7) The purchase of sites for and the cost of construction thereon of school buildings and facilities and the purchase of equipment for the buildings;
(8) The purchase of its legally issued and outstanding commercial bonds at a discount provided that a substantial savings in gross interest charges can be thus effected;
(9) The refunding of all or any part of its legally issued and outstanding debt, both funded and unfunded;
(10) The purchase of equipment;
(11) The payment on loans secured for settlement resulting from litigation against a school district;
(12) The purchase of energy conservation measures as defined in § 6-20-401;
(13) The maintenance and operation of the school district in an amount equal to delinquent property
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-20-802
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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Stable record: arkansas_code:legal_authorities:6-20-802
Source file: gov.ar.code.title.06.odt
Pages: Not recorded – Not recorded
Passage SHA-256: f803cc6dfc909e497d9214a066b308bc1ffa4ed865328e2708cf174b6a23ccf2
Source location: content.xml paragraph 21229
Stored source content
6-20-802. Purposes of loan.
Subject to the conditions and limitations contained in this subchapter, any school district may borrow and the State Board of Education may lend moneys in the Revolving Loan Fund for any of the following purposes:
(1) The funding of its legally issued and outstanding postdated warrants;
(2) The purchase of new or used school buses or the refurbishing of school buses;
(3) The payment of premiums on insurance policies covering its school buildings, facilities, and equipment in instances in which the insurance coverage extends three (3) years or longer;
(4) The replacement of or payment of the school district's pro rata part of the expense of employing professional appraisers as authorized by § 26-26-601 et seq. [repealed] or other laws providing for the appraisal or reappraisal and assessment of property for ad valorem tax purposes;
(5) The making of major repairs and the construction of additions to existing school buildings and facilities;
(6) The purchase of surplus buildings and equipment;
(7) The purchase of sites for and the cost of construction thereon of school buildings and facilities and the purchase of equipment for the buildings;
(8) The purchase of its legally issued and outstanding commercial bonds at a discount provided that a substantial savings in gross interest charges can be thus effected;
(9) The refunding of all or any part of its legally issued and outstanding debt, both funded and unfunded;
(10) The purchase of equipment;
(11) The payment on loans secured for settlement resulting from litigation against a school district;
(12) The purchase of energy conservation measures as defined in § 6-20-401;
(13) The maintenance and operation of the school district in an amount equal to delinquent property taxes resulting from bankruptcies or receiverships of taxpayers; and
(14)(A) Loans to school districts in an amount equal to insured facility loss or damage when the insurance claim is being litigated or arbitrated.
(B) For purposes of this subdivision (14), the loans become payable and due when the final settlement is made, and the loan limits prescribed by § 6-20-803 shall not apply.
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Arkansas Code — all titles (historical 2020) · legal_authorities
26-26-601 — 26-26-607. [Repealed.]
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-26-601
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: repealed. The source passage cites 26-26-601. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-20-401. Definitions.
As used in this subchapter:
(1) “Current indebtedness” means a debt obligation incurred by a school district for the purpose of paying maintenance or general operation expenses for the fiscal year in which the debt is incurred or for a purpose for which a postdated warrant, installment contract, or lease-purchase agreement may be issued;
(2) “Energy conservation measure” means any improvement, repair, alteration, or betterment of any new building design or any existing building or facility owned or operated by a school district or any equipment, fixture, or furnishing to be added to or used in any building or facility that is designed to reduce energy consumption or operating costs and may include, without limitation, one (1) or more of the following:
(A) Insulation of the building structure or systems within the building;
(B) Storm windows or doors, caulking or weather stripping, multi-glazed windows or doors, heat absorbing or heat reflective glazed and coated window or door systems, additional glazing, reductions in glass area, or other window and door system modifications that reduce energy consumption;
(C) Automated or computerized energy control systems;
(D) Heating, ventilating, or air conditioning system modifications or replacements;
(E) Replacements or modifications of lighting fixtures to increase the energy efficiency of the lighting system;
(F) Indoor air quality improvements to increase air quality that conform to the applicable state or local building code requirements even in lieu of an increase in energy usage;
(G) Any additional building infrastructure improvements, cost savings, and life safety or other safety or conservation measures that provide long-term operating cost reductions and are in compliance with
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-20-401
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 6-20-401. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-20-803. Loans to local school districts.
(a) The maximum amount of money a local school district may borrow from the Revolving Loan Fund shall be five hundred thousand dollars ($500,000).
(b) Notwithstanding subsection (a) of this section, a school district participating in the Compressed Natural Gas School Bus Pilot Program under § 6-19-128 [repealed] additionally may borrow up to one million five hundred thousand dollars ($1,500,000) for the purchase of new compressed natural gas school buses.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-20-803
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 6-20-803. This identifies an authority to review, not proof of applicability.