Arkansas § 6-20-1213 Duty to pay on maturity - Effect of failure

Arkansas Statutes

§ 6-20-1213 — Duty to pay on maturity - Effect of failure

Arkansas § 6-20-1213

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This text of Arkansas § 6-20-1213 (Duty to pay on maturity - Effect of failure) 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. § 6-20-1213 (2026).

Text

(a)The school district board of directors and the secretary of the board shall see to it that sufficient funds to meet each maturity of principal and interest of all bonds of their school district are in the place of payment not later than the day before the date of maturity.

(b)Any failure thereof shall be cause for the State Board of Education to withhold any apportionment of school funds that would otherwise be apportioned to that school district and apply them on any past due bonds of that school district.

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(a) The school district board of directors and the secretary of the board shall see to it that sufficient funds to meet each maturity of principal and interest of all bonds of their school district are in the place of payment not later than the day before the date of maturity. (b) Any failure thereof shall be cause for the State Board of Education to withhold any apportionment of school funds that would otherwise be apportioned to that school district and apply them on any past due bonds of that school district.