Arkansas § 6-20-411 Interest-free loans from federal agencies

Arkansas Statutes

§ 6-20-411 — Interest-free loans from federal agencies

Arkansas § 6-20-411

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This text of Arkansas § 6-20-411 (Interest-free loans from federal agencies) 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. § 6-20-411 (2026).

Text

(a)(1) The public school districts of this state are authorized to accept interest-free loans from agencies of the United States Government if incurring the indebtedness is approved by the State Board of Education.

(2)The state board shall not grant its approval unless it is satisfied that the projected revenues and expenses of the school district during the duration of the loan indicate that the school district will be able to retire the debt.

(b)Furthermore, all such loans accepted by public school districts before June 12, 1987, are ratified and declared valid.

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(a) (1) The public school districts of this state are authorized to accept interest-free loans from agencies of the United States Government if incurring the indebtedness is approved by the State Board of Education. (2) The state board shall not grant its approval unless it is satisfied that the projected revenues and expenses of the school district during the duration of the loan indicate that the school district will be able to retire the debt. (b) Furthermore, all such loans accepted by public school districts before June 12, 1987, are ratified and declared valid.