Ark. Code Ann. § 14-90-103

All municipal improvement districts organized prior to July 1, 1952, in compliance with the statutes which, prior to the enactment of Acts 1949, No. 195, regulated the organization of these districts are declared to be legally organized, all their proceedings under the provisions of these statutes are declared to be valid, and these districts shall continue to function under these statutes except with respect to foreclosure suits.