The acquisitions of rights-of-way, payment of damages, construction of bridges, maintenance, or any other payment or contribution required of the local interests by the plan of the district may be hastened by the borrowing of money by the board at a rate of interest not exceeding six percent (6%) per annum. The board may issue its negotiable bonds or its negotiable evidences of debt signed by such officers as the members of the board may, by resolution, designate, and the board may pledge all assessments of benefits for the repayment thereof.
Ark. Code Ann. § 14-118-112
Board authority to borrow money and issue bonds
Acts 1949, No. 328, § 8; A.S.A. 1947, § 21-1008.
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.