Ark. Code Ann. § 6-20-803: Loans to local school districts

(a) The maximum amount of money a local school district may borrow from the Revolving Loan Fund shall be five hundred thousand dollars ($500,000).

(b) Notwithstanding subsection (a) of this section, a school district participating in the Compressed Natural Gas School Bus Pilot Program under § 6-19-128 [repealed] additionally may borrow up to one million five hundred thousand dollars ($1,500,000) for the purchase of new compressed natural gas school buses.