Arkansas § 6-2-110 Power to borrow for construction of facilities

Arkansas Statutes

§ 6-2-110 — Power to borrow for construction of facilities

Arkansas § 6-2-110

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This text of Arkansas § 6-2-110 (Power to borrow for construction of facilities) 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. § 6-2-110 (2026).

Text

The governing body of a corporation organized under the provisions of this chapter shall have the power, for and on behalf of the corporation:

(1)To borrow money from time to time for construction of facilities for its corporate purposes;

(2)To evidence such indebtedness by promissory notes, bonds, or other negotiable evidences of indebtedness;

(3)To secure the payment and the interest on the money borrowed by mortgage, pledge, conveyance, or assignment in trust of the whole or any part of the real and personal property of the corporation, whether at the time owned or thereafter acquired; and (4) To sell, pledge, and otherwise dispose of bonds or other obligations of the corporation issued for its corporate purposes.

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The governing body of a corporation organized under the provisions of this chapter shall have the power, for and on behalf of the corporation: (1) To borrow money from time to time for construction of facilities for its corporate purposes; (2) To evidence such indebtedness by promissory notes, bonds, or other negotiable evidences of indebtedness; (3) To secure the payment and the interest on the money borrowed by mortgage, pledge, conveyance, or assignment in trust of the whole or any part of the real and personal property of the corporation, whether at the time owned or thereafter acquired; and (4) To sell, pledge, and otherwise dispose of bonds or other obligations of the corporation issued for its corporate purposes.