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

Ark. Code Ann. § 20-17-1115: Issuance of notes

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Where this section sits in the code
  1. AR Code
  2. Title 20
  3. Chapter 17
  4. Subchapter 11

(a) In order to acquire equipment and to do the work, the board of commissioners may issue the negotiable notes of the district signed by the members of the board and bearing a rate of interest not exceeding six percent (6%) per annum and may pledge and mortgage a portion of future annual benefit assessments as collected for the payment thereof.

(b) Any petitions for the creation of a district and the court order creating the district shall limit the total amount of notes that may be outstanding at any one (1) time in excess of ten thousand dollars ($10,000).

(c) The district shall have no authority to issue 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

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