Arkansas § 6-20-1201 Authority to borrow money and issue negotiable bonds

Arkansas Statutes

§ 6-20-1201 — Authority to borrow money and issue negotiable bonds

Arkansas § 6-20-1201

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This text of Arkansas § 6-20-1201 (Authority to borrow money and issue negotiable bonds) 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. § 6-20-1201 (2026).

Text

A school district may borrow money and issue negotiable bonds to repay borrowed moneys from school funds for:

(1)Building and equipping school buildings;

(2)Making additions and repairs to school buildings;

(3)Purchasing sites for school buildings;

(4)Purchasing new or used school buses;

(5)Refurbishing school buses;

(6)Providing professional development and training of teachers or other programs authorized under the federally recognized qualified zone academy bond program, 26 U.S.C. § 1397E [repealed];

(7)Paying off outstanding postdated warrants, installment contracts, revolving loans, and lease-purchase agreements, as provided by law; and (8) In the case of a new school district created under § 6-13-1505 :

(A)Purchasing school buildings and other structures;

(B)Purchasing new o

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A school district may borrow money and issue negotiable bonds to repay borrowed moneys from school funds for: (1) Building and equipping school buildings; (2) Making additions and repairs to school buildings; (3) Purchasing sites for school buildings; (4) Purchasing new or used school buses; (5) Refurbishing school buses; (6) Providing professional development and training of teachers or other programs authorized under the federally recognized qualified zone academy bond program, 26 U.S.C. § 1397E [repealed]; (7) Paying off outstanding postdated warrants, installment contracts, revolving loans, and lease-purchase agreements, as provided by law; and (8) In the case of a new school district created under § 6-13-1505 : (A) Purchasing school buildings and other structures; (B) Purchasing new or used furniture, fixtures, and equipment; (C) Paying the costs of the allocation of assets to the new school district; and (D) Paying or retiring the outstanding indebtedness of the original school district that the new school district has become responsible for under § 6-13-1505 .

Legislative History

Amended by Act 2015, No. 947,§ 2, eff. 4/2/2015. Acts 1931, No. 169, § 59; Pope's Dig., § 11492; A.S.A. 1947, § 80-1101; Acts 1991, No. 405, § 1; 1994 (2nd Ex. Sess.), No. 43, § 1; 2001, No. 1220, § 15; 2003, No. 1738, § 4; 2009, No. 1469, § 10.