8-15-111. District boards of directors — Powers and duties.

Arkansas Code — all titles (historical 2020) · legal_authorities

8-15-111. District boards of directors — Powers and duties.

8-15-111. District boards of directors — Powers and duties. (a) The board of directors of a property assessed energy improvement district may: (1) Issue revenue bonds on behalf of the district; (2) Make and adopt all necessary bylaws for its organization and operation; (3) Elect officers and employ personnel necessary for its operation; (4) Operate, maintain, expand, and fund a PACE project; (5) Apply for, receive, and spend grants for any purpose under this chapter; (6) Enter into agreements and contracts on behalf of the district; (7) Receive property or funds by gift or donation for the finance and support of the district; (8) Reimburse a governmental entity for expenses incurred in performing a service for the district; (9) Assign assessments to a private lending institution; and (10) Do all things necessary or appropriate to carry out the powers expressly granted or duties expressly imposed under this chapter. (b) The board of directors shall: (1) Allow a commission of: (A) One and five-tenths percent (1.5%) for the extension of district assessments by the county assessor or county clerk; (B) One and five-tenths percent (1.5%) for the collection of district assessments by the county collector; and (C) One-eighth of one percent (0.125%) for services of a county treasurer in disbursing the moneys collected for district assessments; and (2) Adopt rules consistent with this chapter or with other legislation that in its judgment may be necessary for the proper enforcement of this chapter.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 8-15-111

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.