Arkansas · Snapshot open-us-law v2026.08, retrieved 2026-09-17

Ark. Code Ann. § 14-218-131: Bonds - Issuance

(a) In order to hasten the work provided for in the original or any additional or supplementary plans and to pay the indebtedness owed by any separate district whose plant or system is acquired by such consolidated district, the board may borrow money at a rate or rates of interest as provided by the resolution authorizing issuance of bonds.

(b) In order to carry out any of the above purposes, the board may sell bonds which may be secured by a mortgage of uncollected assessments or a part of same and by a mortgage on the consolidated plant and system. The sale of all bonds shall be at public auction after notice of such sale has been published one (1) time a week for two (2) weeks in some newspaper published and having a bona fide circulation in the county in which the district is located.

(d) The total outstanding indebtedness of the district, excluding interest, shall never exceed fifty percent (50%) of the assessed value of the real estate in the district, as shown by the last county assessment.

Where this section sits in the code

AR Code
Title 14
Chapter 218

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

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