Arkansas Code Title 14, Subtitle 7, Chapter 122, Subchapter 2 - District Financing

• § 14-122-201 - Authority to Borrow Money and Issue Bonds or Certificates -- Security.
  (a) For the purpose of providing funds to pay preliminary expenses, to construct improvements according to the plan, or to pay for an improvement...
• § 14-122-202 - Nature of Bonds.
  (a) The bonds may be coupon bonds, payable to bearer, or may be registrable as to principal only or as to principal and interest,...
• § 14-122-203 - Authorizing Resolution.
  The authorizing resolution may contain any of the terms, covenants, and conditions that are deemed desirable by the board including, without limitation, those pertaining...
• § 14-122-204 - Trust Indenture.
  (a) The authorizing resolution may provide for the execution by the district with a bank or trust company within or without the State of...
• § 14-122-205 - Contents of Bonds.
  It shall be plainly stated on the face of each bond that it has been issued under the provisions of this chapter, that the...
• § 14-122-206 - Sale of Bonds.
  (a) The bonds shall be sold at public sale on sealed bids.(b) Notice of the sale shall be published once a week for at...
• § 14-122-207 - Execution of Bonds -- Seal.
  (a) The bonds shall be executed by the manual or facsimile signature of the chairman of the board and by the manual signature of...
• § 14-122-208 - Security and Payment of Bonds.
  The principal of and interest on, and paying agent's fees in connection with, the bonds shall be secured by a lien on and pledge...
• § 14-122-209 - Bonds -- Tax Exemption.
  Bonds issued under the provisions of this chapter, and the interest thereon, shall be exempt from all state, county, and municipal taxes. The exemption...
• § 14-122-210 - Board Liability on Bonds.
  No member of the board shall be personally liable on the bonds or for any damages sustained by anyone in connection with any contracts...
• § 14-122-211 - Additional Funds -- Supplemental Annual Assessment.
  (a) In order to effectuate the plan of improvement and to maintain the improvements constructed thereunder, it may be desirable to provide additional funds...

Last modified: November 15, 2016