{"data":{"id":"us-ar/ark.-code-ann.-6-20-1201","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 6-20-1201","heading":"Authority to borrow money and issue negotiable bonds","body":"A school district may borrow money and issue negotiable bonds to repay borrowed moneys from school funds for: (1) Building and equipping school buildings; (2) Making additions and repairs to school buildings; (3) Purchasing sites for school buildings; (4) Purchasing new or used school buses; (5) Refurbishing school buses; (6) Providing professional development and training of teachers or other programs authorized under the federally recognized qualified zone academy bond program, 26 U.S.C. § 1397E [repealed]; (7) Paying off outstanding postdated warrants, installment contracts, revolving loans, and lease-purchase agreements, as provided by law; and (8) In the case of a new school district created under § 6-13-1505 : (A) Purchasing school buildings and other structures; (B) Purchasing new or used furniture, fixtures, and equipment; (C) Paying the costs of the allocation of assets to the new school district; and (D) Paying or retiring the outstanding indebtedness of the original school district that the new school district has become responsible for under § 6-13-1505 . Amended by Act 2015, No. 947,§ 2, eff. 4/2/2015. Acts 1931, No. 169, § 59; Pope's Dig., § 11492; A.S.A. 1947, § 80-1101; Acts 1991, No. 405, § 1; 1994 (2nd Ex. Sess.), No. 43, § 1; 2001, No. 1220, § 15; 2003, No. 1738, § 4; 2009, No. 1469, § 10.\n\nA school district may borrow money and issue negotiable bonds to repay borrowed moneys from school funds for:\n\n(1) Building and equipping school buildings;\n\n(2) Making additions and repairs to school buildings;\n\n(3) Purchasing sites for school buildings;\n\n(4) Purchasing new or used school buses;\n\n(5) Refurbishing school buses;\n\n(6) Providing professional development and training of teachers or other programs authorized under the federally recognized qualified zone academy bond program, 26 U.S.C. § 1397E [repealed];\n\n(7) Paying off outstanding postdated warrants, installment contracts, revolving loans, and lease-purchase agreements, as provided by law; and\n\n(8) In the case of a new school district created under § 6-13-1505 : (A) Purchasing school buildings and other structures; (B) Purchasing new or used furniture, fixtures, and equipment; (C) Paying the costs of the allocation of assets to the new school district; and (D) Paying or retiring the outstanding indebtedness of the original school district that the new school district has become responsible for under § 6-13-1505 .\n\n(A) Purchasing school buildings and other structures;\n\n(B) Purchasing new or used furniture, fixtures, and equipment;\n\n(C) Paying the costs of the allocation of assets to the new school district; and\n\n(D) Paying or retiring the outstanding indebtedness of the original school district that the new school district has become responsible for under § 6-13-1505 .","path":["AR Code","Title 6","Chapter 20","Subchapter 12"],"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 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"baccaa64618cd210884f21b724ceae1b82c6bb9114eb42de6725dfd9f600ecc1","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-6-20-1017","next":"us-ar/ark.-code-ann.-6-20-1202"},"notice":"GroundRules: Original legal text. Not legal advice."}