A district created under this chapter shall continue in existence in perpetuity unless dissolved by ordinance of the governing body of the city. However, no district shall be dissolved at any time during which there shall be outstanding bonded indebtedness of the district unless funds sufficient to retire the indebtedness, including all interest, redemption premiums, if any, trustee's and paying agent's fees, and cost of publication of notice of redemption, shall have been deposited in trust according to the terms of the resolution or trust indenture authorizing the bonded indebtedness.
Ark. Code Ann. § 14-122-112
Dissolution of districts
Acts 1975, No. 746, § 15; A.S.A. 1947, § 20-1815.
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.