GroundRules
Ark. Code Ann. § 14-87-108: Refunding bonds of consolidated district
Where this section sits in the code
- AR Code
- Title 14
- Chapter 87
(a) Where a subsidiary district is established as provided in § 14-87-107 , the indebtedness of the subsidiary district may be refunded in the same manner as is provided for the refunding of the indebtedness of the taxing districts.
(b) The governing body of the taxing district may take up all or a part of the indebtedness of the subsidiary district, including such annual maturities of principal or interest as may be allotable to the lands of the subsidiary district included in the taxing district.
(c) In order to enable the taxing district to pay such indebtedness, it may issue and sell the refunding bonds or certificates of indebtedness either of the taxing or subsidiary district.
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