Ark. Code Ann. § 14-95-303: Dissolution - Combination of service district

Dissolution or any combination of service districts shall provide for the following: (1) The transfer or other disposition of property and other rights, claims, and assets of the district; (2) The payment of all obligations from the resources of the district; (3) The payment of all costs of abolishing or combining a district from the resources of the districts involved; (4) The honoring of any bonds, debt, contract, obligation, or cause of action accrued or established under the urban service district; (5) The provision for the: (A) Equitable disposition of the assets of the district; (B) Adequate protection of the legal rights of employees of the district; and (C) Adequate protection of the legal rights of creditors; and (6) The transfer of all property and assets to the jurisdiction of the city or town. Acts 1995, No. 1090, § 4.

Dissolution or any combination of service districts shall provide for the following:

(1) The transfer or other disposition of property and other rights, claims, and assets of the district;

(2) The payment of all obligations from the resources of the district;

(3) The payment of all costs of abolishing or combining a district from the resources of the districts involved;

(4) The honoring of any bonds, debt, contract, obligation, or cause of action accrued or established under the urban service district;

(5) The provision for the: (A) Equitable disposition of the assets of the district; (B) Adequate protection of the legal rights of employees of the district; and (C) Adequate protection of the legal rights of creditors; and

(A) Equitable disposition of the assets of the district;

(B) Adequate protection of the legal rights of employees of the district; and

(C) Adequate protection of the legal rights of creditors; and

(6) The transfer of all property and assets to the jurisdiction of the city or town.