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Ark. Code Ann. § 8-15-111

District boards of directors — Powers and duties

Known as the Property Assessed Clean Energy Act

The act spans §§ 8–8 (19 sections).

Acts 2013, No. 1074, § 1.

(1) The board of directors of a property assessed energy improvement district may: Issue revenue bonds on behalf of the district;

(2) Make and adopt all necessary bylaws for its organization and operation;

(3) Elect officers and employ personnel necessary for its operation;

(4) Operate, maintain, expand, and fund a PACE project;

(5) Apply for, receive, and spend grants for any purpose under this chapter;

(6) Enter into agreements and contracts on behalf of the district;

(7) Receive property or funds by gift or donation for the finance and support of the district;

(8) Reimburse a governmental entity for expenses incurred in performing a service for the district;

(9) Assign assessments to a private lending institution; and

(10) Do all things necessary or appropriate to carry out the powers expressly granted or duties expressly imposed under this chapter.

(11) The board of directors shall: Allow a commission of: One and five-tenths percent (1.5%) for the extension of district assessments by the county assessor or county clerk;

(12) One and five-tenths percent (1.5%) for the collection of district assessments by the county collector; and

(13) One-eighth of one percent (0.125%) for services of a county treasurer in disbursing the moneys collected for district assessments; and

(14) Adopt rules consistent with this chapter or with other legislation that in its judgment may be necessary for the proper enforcement of this chapter.

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.