Arkansas Code Title 6, Subtitle 2, Chapter 20, Subchapter 12 - District Bonds

• § 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;...
• § 6-20-1202 - Limitations of Bonded Indebtedness -- Conversion of Authorized Bond Issues.
  (a) For acquiring a building site, building or equipping a new school building, repairing, making additions to, or equipping a present school building, purchasing...
• § 6-20-1203 - Bonds to Comply With Existing Statutes.
  All bonds authorized to be issued under this statute shall be issued in full compliance with all of the laws governing the issuance of...
• § 6-20-1204 - Form of Bonds -- Security.
  (a) School bonds shall be issued by a school district in the form prescribed by the school district's board of directors.(b) School bonds may...
• § 6-20-1205 - Submission of Statement Prior to Issuing Bonds -- Approval.
  (a) When any school district board of directors desires to issue bonds for the purposes described in § 6-20-1201, the school district board of...
• § 6-20-1206 - Manner and Terms of Sale -- Maximum Rate of Interest.
  (a) (1) All school bonds shall be sold to the highest bidder at public sale. (2) (A) (i) Advertisement of a bond sale under...
• § 6-20-1207 - Delivery and Payment in Installments.
  Bonds may be sold to be delivered and paid for in installments estimated to be as funds will be needed by the school district;...
• § 6-20-1208 - Delivery of Bonds Upon Payment in Cash -- Registration and Recording.
  (a) All school bonds sold shall be sold only for cash on the delivery of the bonds.(b) The delivery of the bonds to the...
• § 6-20-1209 - Debt Service Fund -- Establishment and Purpose.
  All school districts in Arkansas proceeding under this act to borrow money and issue bonds, in addition to other security herein authorized, may and...
• § 6-20-1210 - Debt Service Fund -- Use.
  (a) The debt service fund shall not be used for any other purpose in any year than to pay the bonds and interest thereon...
• § 6-20-1211 - Tax Records -- Separate Debt Service Fund Records.
  (a) In showing school taxes on the tax books, it shall not be necessary to show separate amounts for the debt service fund or...
• § 6-20-1212 - Resolution Setting Priority in Case of Default.
  On the issuance of any bonds, the school district board of directors may provide by resolution, which shall be a contract with the holders...
• § 6-20-1213 - Duty to Pay on Maturity -- Effect of Failure.
  (a) The school district board of directors and the secretary of the board shall see to it that sufficient funds to meet each maturity...
• § 6-20-1214 - Obligations on District Dissolution.
  (a) Dissolution of any school district shall not of itself mature any outstanding bonds or other unmatured obligations of the school district, but the...
• § 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...
• § 6-20-1216 - Refunding Bonds -- Authority to Use.
  (a) Any school district of Arkansas shall have the right, subject to procedural rules and regulations adopted by the Department of Education, to refund...
• § 6-20-1217 - [Repealed.]
• § 6-20-1218 - Refunding Bonds -- Maximum Amounts -- Conversion and Sale.
  (a) When the refunding bonds are issued to be exchanged for outstanding bonds, it shall not be necessary to advertise them for sale, but...
• § 6-20-1219 - Record of Bond Issues.
  In a book prepared for that purpose, the county treasurer, or school district treasurer if the school district has its own treasurer, shall keep...
• § 6-20-1220 - Refunding Bonds -- Issuance With Election -- Validation.
  Refunding bonds issued by any school district of the State of Arkansas, when authorized at any general or special school election by a vote...
• § 6-20-1221 - [Repealed.]
• § 6-20-1222 - Sale of School Property Securing Deed of Trust -- Release of Lien.
  (a) When any school district of Arkansas desires to abandon any property for school purposes and to sell and convey the property and use...
• § 6-20-1223 - Refunding Bonds -- Issuance Without Election.
  (a) School districts of this state may issue refunding bonds without the necessity of submitting the question of issuing the refunding bonds to a...
• § 6-20-1224 - Payment in Full -- Endorsement and Certificate.
  When any school district of Arkansas has paid in full all the bonds of any issue secured by an executed deed of trust with...
• § 6-20-1225 - Certificates of Indebtedness.
  (a) A school district of Arkansas filing a petition in United States District Court for the composition of its bonded indebtedness and having more...
• § 6-20-1226 - Advancements for Bond Payments by County Treasurer Prior to Settlement Date.
  In all school districts of the State of Arkansas that have voted a bond issue that calls for the payment of interest and principal...
• § 6-20-1227 - [Repealed.]
• § 6-20-1228 - Issuance of Bonds -- Refunding of Bonded Indebtedness -- Maintenance and Operation of Schools.
  (a) (1) Any school district of this state is authorized to sell bonds in an amount not to exceed an amount equal to the...
• § 6-20-1229 - Issuance of Second-Lien Commercial Bonds.
  (a) As used in this section: (1) "Issue", "issuance", or some variety thereof means the date upon which a second-lien bond is actually sold;...

Last modified: November 15, 2016