Arkansas Statutes
§ 26-80-106 — Use of surplus for other purposes
Arkansas·Title 26
Because of consolidations of school districts and for other reasons, the debt service millage voted by a school district for the payment of its outstanding indebtedness frequently provided a substantial surplus over the amount of the annual principal and interest requirements. This surplus may be used by the district for the purpose of paying the principal and interest of subsequent indebtedness incurred by it and may be pledged for that purpose or any other school purpose, provided that the district is in compliance with the uniform rate of tax.
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Arkansas § 26-80-106 (Use of surplus for other purposes) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
City of Fayetteville v. Fayetteville School District No. 1
2013 Ark. 71 (Supreme Court of Arkansas, 2013)
Opinion No.
(Arkansas Attorney General Reports, 1996)
Legislative History
Acts 1951, No. 403, § 7; A.S.A. 1947, § 80-607; Acts 1997, No. 1300, § 11.
Nearby Sections
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