GroundRules
Ark. Code Ann. § 14-91-1106: Borrowing of money
Where this section sits in the code
- AR Code
- Title 14
- Chapter 91
- Subchapter 11
In order to secure funds for the making and completion of the improvements in the improvement district according to the changed plans, the board of improvement may borrow money not exceeding the full amount of the estimated cost of making and completing the improvements, with ten percent (10%) added for overhead cost, at a rate of interest not exceeding eight percent (8%) per annum, and may issue negotiable notes or bonds of the district for the payment thereof, and pledge all uncollected assessments for the security of the payment of the notes or bonds.
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