Ark. Code Ann. § 6-23-903: Purpose of loan

An open-enrollment public charter school may borrow and the Division of Public School Academic Facilities and Transportation may lend money from the Open-Enrollment Public Charter School Facilities Loan Fund for:

(1) The construction, lease, or purchase of an academic facility;

(2) The repair, improvement, or addition to an academic facility; or

(3) Credit enhancement for financing academic facility projects under subdivision (1) or subdivision (2) of this section.