The board may borrow money at a rate of interest from any agency of the United States, the state, or any other public or private lending source; may issue promissory notes, negotiable bonds, or other evidences of indebtedness as required by the lender thereof; and may pledge and assign all assessments and revenues relating to the improvement project area for the repayment thereof.
Ark. Code Ann. § 14-116-701
Authority to borrow money or issue bonds, etc
Known as the The Regional Water Distribution District Act
The act spans §§ 14-116-101 to 14-116-801 (51 sections).
Acts 1995, No. 838, § 7.
Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.