GroundRules
Ark. Code Ann. § 14-218-121: Retirement of bonds of separate districts before maturity
Where this section sits in the code
- AR Code
- Title 14
- Chapter 218
(a) The board of improvement of the consolidated district is authorized to pay any notes or bonds given by either of the separate districts before the notes or bonds become due including accrued interest on the notes or bonds up until the date of payment.
(b) In order to facilitate the retirement of the notes or bonds, the board at its option, may pay, in addition to the face value and accrued interest on any bond or note, a premium of not exceeding one-half of one percent (1/2 of 1%) for each full year that the payment of the note or bond is anticipated.
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