The assessment of the benefits shall bear interest at a rate equal to the lesser of the maximum rate permitted by law or the rate of ten percent (10%) per annum from the time it is equalized, but the interest need not be calculated until it is necessary to do so to avoid exceeding the total amount of benefits and interest, or the interest may be first collected.
Ark. Code Ann. § 14-94-119
Interest on assessment
Known as the Municipal Property Owner's Improvement District Law
The act spans §§ 14–14 (28 sections).
Acts 1987, No. 113, § 11.
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.