Arkansas Statutes
§ 19-9-304 — Interest rate
Arkansas·Title 19
(a)Any county, school district, improvement district, or municipality may refund any bonds issued under any statutory or constitutional authority at any time outstanding by the issuance of bonds bearing a rate or rates of interest that the issuer shall deem to be just and fair, whether or not greater than the rate or rates of interest borne by the bonds being refunded.
(b)No bonds shall be refunded at a rate of interest greater than the maximum rate set by the statutes or constitutional provision under which they were originally authorized.
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Legislative History
Acts 1961, No. 449, § 1; A.S.A. 1947, § 13-1103.
Nearby Sections
15
§ 19-1-201
Chief Fiscal Officer of the State§ 19-1-202
Secretary§ 19-1-203
Deputy director§ 19-1-204
Personnel§ 19-1-205
Office§ 19-1-206
Seal§ 19-1-207
General accounting system§ 19-1-208
Rules§ 19-1-209
Publications required§ 19-1-210
Recordkeeping§ 19-1-211
Investigations§ 19-1-212
Duty to avoid deficit§ 19-1-213
Leasing of state property§ 19-1-214
Federal gifts and surplusage