Arkansas § 14-120-104 Foreclosure sales - Payment with bonds or interest coupons

Arkansas Statutes

§ 14-120-104 — Foreclosure sales - Payment with bonds or interest coupons

Arkansas § 14-120-104

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This text of Arkansas § 14-120-104 (Foreclosure sales - Payment with bonds or interest coupons) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 14-120-104 (2026).

Text

(a)Any levee or drainage improvement district in this state having acquired title to any lands within that district by virtue of foreclosure of benefit assessments thereon may sell the lands at prices fixed by the commissioners of the district and may receive in payment of the purchase price for the land the bonds and interest coupons of the district, at face value, to the amount of the purchase price.

(b)Any person redeeming or purchasing lands from the districts, at the time of making payment for those lands in bonds or interest coupons of the district, shall pay to the district in cash an amount necessary to defray all costs and expenses of foreclosure which the district shall have incurred as to the redeemed or purchased tract of land.

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(a) Any levee or drainage improvement district in this state having acquired title to any lands within that district by virtue of foreclosure of benefit assessments thereon may sell the lands at prices fixed by the commissioners of the district and may receive in payment of the purchase price for the land the bonds and interest coupons of the district, at face value, to the amount of the purchase price. (b) Any person redeeming or purchasing lands from the districts, at the time of making payment for those lands in bonds or interest coupons of the district, shall pay to the district in cash an amount necessary to defray all costs and expenses of foreclosure which the district shall have incurred as to the redeemed or purchased tract of land.