{"data":{"id":"us-ar/ark.-code-ann.-26-78-114","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 26-78-114","heading":"Sale of bonds","body":"(a) All bonds issued under this chapter may be sold for such price, including, without limitation, sale without discount, and in such manner as the county or municipality may determine, but in no event shall the county or the municipality be required to pay more than four and one-half percent (4.5%) interest on the amount received, computed with relation to the absolute maturity of the bonds in accordance with the standard tables of bond values.\n\n(b) The bonds may be sold with the privilege of conversion into an issue bearing a lower rate or rates of interest, upon such terms and conditions as the county or municipality shall determine, but each such determination shall include the condition that the county or municipality receive no less and pay no more than it would receive and pay if the bonds were not converted. The conversion shall be subject to the approval of the county court in the case of bonds issued by the county and to the approval of the governing body of the municipality in the case of bonds issued by the municipality.","path":["AR Code","Title 26","Chapter 78"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-17","retrieved_at":"2026-09-17T21:35:43Z","sha256":"b09536f7e5f852d1322b7ba2d8f0b7a8b903f9d2e9026b2bc193ffbabb57d692","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-26-78-113","next":"us-ar/ark.-code-ann.-26-78-115","notices":[{"id":"open-us-law","title":"Open US Law compilation","text":"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.","url":"https://huggingface.co/datasets/vaquill/open-us-law","license_url":"https://creativecommons.org/licenses/by/4.0/"},{"id":"pro-ar","title":"Arkansas Release 78 supplement","text":"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.","url":"https://archive.org/details/gov.ar.code"}]},"notice":"GroundRules: Original legal text. Not legal advice."}