It shall be lawful for any municipal corporation or board of commissioners having control of any improvement district within a municipal corporation, or any work completed by any district, to appropriate and use any funds recovered in litigation or for operating expenses for the purpose of paying off any bonded indebtedness of the district when the funds are not needed for the operating expenses of the district.
Ark. Code Ann. § 14-89-301
Use of funds to pay off
Acts 1927, No. 201, § 1; Pope's Dig., § 7361; A.S.A. 1947, § 20-208.
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.