GroundRules
Ark. Code Ann. § 14-120-239: Issuance of bonds - Interest coupons
Where this section sits in the code
- AR Code
- Title 14
- Chapter 120
- Subchapter 2
(a) Bonds may be sold and negotiated in any market after due advertisement and may be made callable as the board of directors may direct.
(b) The bonds so issued shall be signed by the president of the board and countersigned by the secretary.
(c) The bonds shall bear interest at a rate not exceeding an average of three and one-half percent (31/2%) per annum, over the period of the life of the bonds, represented by semiannual coupons.
(d) The place of payment and the amount of the several installments to be paid each year may be fixed by the board.
(e) The interest coupons shall be authenticated by the lithographed signature of the president of the board.
Collected 2026-09-17T21:35:43Z. Source file · JSON
Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text. Source · License
Arkansas electronic product files were republished by Public.Resource.Org under a public-domain mark. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows. Source