reglab/housing_qa huggingface dataset:
AR Code § 6-20-1016 (2020)
2020 Arkansas Code|Title 6 - Education|Subtitle 2 - Elementary and Secondary Education Generally|Chapter 20 - Finances|Subchapter 10 - Revolving Loan Program — Alternative State Financing|§ 6-20-1016. Prohibition on creation of rights

 This subchapter shall not create any right, and no right shall arise under it, until the initial issue or series of bonds authorized by this subchapter shall have been sold and delivered by the State Board of Education.
AR Code § 6-20-1017 (2020)
2020 Arkansas Code|Title 6 - Education|Subtitle 2 - Elementary and Secondary Education Generally|Chapter 20 - Finances|Subchapter 10 - Revolving Loan Program — Alternative State Financing|§ 6-20-1017. Purchase of bonds and certificates by Treasurer of State

 (a) The Treasurer of State shall, upon written request of the Commissioner of Education, acting on authority of the State Board of Education, purchase from the state board, at par, plus any accrued interest, revolving loan bonds or revolving loan certificates of indebtedness of school districts in this state whenever the state board shall present them to the Treasurer of State for purchase.  (b) All revolving loan bonds or certificates of indebtedness acquired by the Treasurer of State shall be deposited into the Securities Account in the State Treasury. However, the Treasurer of State's aggregate holdings at any one (1) time of the revolving loan bonds or revolving loan certificates of indebtedness shall not exceed the sum of fifteen million dollars ($15,000,000).  (c) The moneys that the Treasurer of State may use in the purchase of any revolving loan bonds or revolving loan certificates of indebtedness shall be those funds available for investment under the provisions of the State Treasury Management Law, § 19-3-501 et seq.  (d) The interest received from investments by the Treasurer of State on revolving loan bonds or revolving loan certificates of indebtedness shall be credited to the Securities Reserve Fund to be used for the same purposes as other moneys deposited into said fund as provided by law.  (e) The Treasurer of State shall sell and redeliver any such revolving loan bonds or revolving loan certificates of indebtedness to the state board, upon request, at a price of par plus accrued interest to the date of such redelivery.
AR Code § 6-20-1201 (2020)
2020 Arkansas Code|Title 6 - Education|Subtitle 2 - Elementary and Secondary Education Generally|Chapter 20 - Finances|Subchapter 12 - District Bonds|§ 6-20-1201. Authority to borrow money and issue negotiable bonds

 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.
AR Code § 6-20-1202 (2020)
2020 Arkansas Code|Title 6 - Education|Subtitle 2 - Elementary and Secondary Education Generally|Chapter 20 - Finances|Subchapter 12 - District Bonds|§ 6-20-1202. Limitations of bonded indebtedness — Conversion of authorized bond issues

 (a) For acquiring a building site, building or equipping a new school building, repairing, making additions to, or equipping a present school building, purchasing new or used school buses or refurbishing school buses, or the professional development and training of teachers or other programs authorized under the federally recognized qualified zone academy bond program codified at 26 U.S.C. § 1397E [repealed], any school district of the State of Arkansas is authorized to borrow money and issue negotiable bonds for the repayment thereof from school funds.  (b) Subsection (a) of this section shall not prohibit the conversion of authorized bond issues to bonds bearing a lower rate of interest, subject to the approval of the Commissioner of Education, upon such terms that the school district shall receive no less and pay no more in principal and interest combined than it would receive and pay in principal and interest combined if the bonds were not converted.
AR Code § 6-20-1203 (2020)
2020 Arkansas Code|Title 6 - Education|Subtitle 2 - Elementary and Secondary Education Generally|Chapter 20 - Finances|Subchapter 12 - District Bonds|§ 6-20-1203. Bonds to comply with existing statutes

 All bonds authorized to be issued under this statute shall be issued in full compliance with all of the laws governing the issuance of school bonds in effect at the time of their issuance.
AR Code § 6-20-1205 (2020)
2020 Arkansas Code|Title 6 - Education|Subtitle 2 - Elementary and Secondary Education Generally|Chapter 20 - Finances|Subchapter 12 - District Bonds|§ 6-20-1205. Submission of statement before issuing bonds — Approval

 (a) When any school district board of directors desires to issue bonds for the purposes described in § 6-20-1201, the school district board of directors:  (1) Shall furnish to the Commissioner of Elementary and Secondary Education a statement of the amount proposed to be borrowed and of the maturity of the indebtedness, a financial statement of the affairs of the school district, and a certificate from the county clerk showing the then-assessed valuation of the real, personal, and utility property in the school district; and  (2) Shall not sell bonds until the issue is approved by the State Board of Education or by the commissioner, to be evidenced by a writing signed by the state board or the commissioner and bearing the seal of the state board.    (b) In addition to other reasons for disapproval of a bond issue provided under law or by rule, neither the state board nor the commissioner shall approve the sale of bonds for the purposes described in § 6-20-1201 if that sale would cause an increase in the millage levy without a vote of the electors of that school district.  (c) The Division of Elementary and Secondary Education is authorized to adopt procedural rules to enforce the provisions of this section.
AR Code § 6-20-1207 (2020)
2020 Arkansas Code|Title 6 - Education|Subtitle 2 - Elementary and Secondary Education Generally|Chapter 20 - Finances|Subchapter 12 - District Bonds|§ 6-20-1207. Delivery and payment in installments

 Bonds may be sold to be delivered and paid for in installments estimated to be as funds will be needed by the school district; but if sold on such terms, they shall be plainly stated in the advertisement of the sale, so that all bidders may bid on equal terms.
AR Code § 6-20-1208 (2020)
2020 Arkansas Code|Title 6 - Education|Subtitle 2 - Elementary and Secondary Education Generally|Chapter 20 - Finances|Subchapter 12 - District Bonds|§ 6-20-1208. Delivery of bonds upon payment in cash — Registration and recording

 (a) All school bonds sold shall be sold only for cash on the delivery of the bonds.  (b) The delivery of the bonds to the purchaser and the payment of the full amount of cash to the credit of the school district to the order of the county treasurer, or school district treasurer if the school district has its own treasurer, shall be simultaneous, and, in order to do this, some responsible bank or trust company may be designated as an escrow agent through which the bonds are to be delivered and the funds received.  (c)  (1) The secretary of each school district shall cause all school bonds to be registered in the office of the county treasurer, or the school district treasurer if the school district has its own treasurer, in a book to be kept for that purpose.  (2) This record shall show the date, the denomination, the maturity in each year, the place of payments, the rate of interest, and the aggregate amount of the issue, together with the amount of cash for which sold.    (d) Such record books shall be open to public inspection.  (e) Any county treasurer, or school district treasurer if the school district has its own treasurer, failing or refusing to comply with any provisions of this act, and the sureties on his or her official bond, shall be liable to the school district and holders of the school district's bonds for any damages caused thereby, to be recovered by civil action.
AR Code § 6-20-1209 (2020)
2020 Arkansas Code|Title 6 - Education|Subtitle 2 - Elementary and Secondary Education Generally|Chapter 20 - Finances|Subchapter 12 - District Bonds|§ 6-20-1209. Debt service fund — Establishment and purpose

 All school districts in Arkansas proceeding under this act to borrow money and issue bonds, in addition to other security herein authorized, may and are authorized to establish a debt service fund in an amount sufficient to pay the maturities of bond principal and interest, as they accrue, of the issue of bonds, that the debt service fund shall be set aside out of the first revenues of the school district from whatever source derived and shall be held by the county treasurer, or school district treasurer if the school district has its own treasurer, solely in the manner and for the purposes set out throughout this act.
AR Code § 6-20-1210 (2020)
2020 Arkansas Code|Title 6 - Education|Subtitle 2 - Elementary and Secondary Education Generally|Chapter 20 - Finances|Subchapter 12 - District Bonds|§ 6-20-1210. Debt service fund — Use

 (a) The debt service fund shall not be used for any other purpose in any year than to pay the bonds and interest thereon maturing that year and any that may be past due, until the maturities are paid in full or until the funds are set aside to pay the full amount of the bonds; provided, the surplus in any year over and above the amount necessary to pay bonds and interest maturing that year, whether hereafter or heretofore issued, may be used by the respective school districts for any other school purposes.  (b) The county treasurer, or school district treasurer if the school district has its own treasurer, shall see to it that all warrants on the debt service fund of any school district are drawn only to pay maturities of principal or interest on bonds of this school district, other school purposes as herein provided, or past due interest as shown by the records in his or her office.  (c) It is intended that the provisions of this section are to be cumulative and are not to repeal the provisions of any other act now in force except such laws and parts of laws as may be in conflict herewith.
AR Code § 6-20-1211 (2020)
2020 Arkansas Code|Title 6 - Education|Subtitle 2 - Elementary and Secondary Education Generally|Chapter 20 - Finances|Subchapter 12 - District Bonds|§ 6-20-1211. Tax records — Separate debt service fund records

 (a) In showing school taxes on the tax books, it shall not be necessary to show separate amounts for the debt service fund or any other fund that may be created by the school district board of directors, but there shall be one (1) amount extended on the tax books showing the total of the school district tax for that year.  (b) However, the county treasurer, or school district treasurer if the school district has its own treasurer, shall keep separate records in his or her office showing separately the debt service fund and shall see to it that on all settlements made with him or her of tax money or state apportionment money, the debt service fund is credited with all funds set apart for debt service by the electors or by the school district board of directors.
AR Code § 6-20-1212 (2020)
2020 Arkansas Code|Title 6 - Education|Subtitle 2 - Elementary and Secondary Education Generally|Chapter 20 - Finances|Subchapter 12 - District Bonds|§ 6-20-1212. Resolution setting priority in case of default

 On the issuance of any bonds, the school district board of directors may provide by resolution, which shall be a contract with the holders of the bonds, that should there be a default in the payment of any installment of principal or interest when due, the first moneys coming to the school district from any source, other than the uniform rate of tax, shall be paid into the debt service fund and applied on past due principal or interest on the bonds until paid in full.
AR Code § 6-20-1213 (2020)
2020 Arkansas Code|Title 6 - Education|Subtitle 2 - Elementary and Secondary Education Generally|Chapter 20 - Finances|Subchapter 12 - District Bonds|§ 6-20-1213. Duty to pay on maturity — Effect of failure

 (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.
AR Code § 6-20-1214 (2020)
2020 Arkansas Code|Title 6 - Education|Subtitle 2 - Elementary and Secondary Education Generally|Chapter 20 - Finances|Subchapter 12 - District Bonds|§ 6-20-1214. Obligations on district dissolution

 (a) Dissolution of any school district shall not of itself mature any outstanding bonds or other unmatured obligations of the school district, but the school district to which the territory of the dissolved school district is added shall be liable for the bonds and for the levying of a tax to pay them as herein provided for the obligation of school districts when a school district or a part thereof is annexed to another district.  (b) In addition to the remedy of mandamus to enforce performance of the duties of school officers in the payment of bonds, any bondholder or trustee of such issue may apply to the circuit court having jurisdiction of the territory in which the school district is situated for mandatory orders for the collection of money due from the school district on all bonds for the levy and collection of such taxes.
AR Code § 6-20-1215 (2020)
2020 Arkansas Code|Title 6 - Education|Subtitle 2 - Elementary and Secondary Education Generally|Chapter 20 - Finances|Subchapter 12 - District Bonds|§ 6-20-1215. Approval of bond issues

 (a) Before any school district shall issue bonds for the purposes described in § 6-20-1201, the issue shall be approved by the State Board of Education.  (b) If the school district has done everything necessary to comply with the law to authorize it to sell bonds except securing the approval of the state board, and if the state board does not meet for thirty (30) days, then in its discretion, the state board shall have the authority to authorize the Commissioner of Education to approve the issue of bonds.
AR Code § 6-20-1216 (2020)
2020 Arkansas Code|Title 6 - Education|Subtitle 2 - Elementary and Secondary Education Generally|Chapter 20 - Finances|Subchapter 12 - District Bonds|§ 6-20-1216. Refunding bonds — Authority to use

 (a) Any school district of Arkansas shall have the right, subject to procedural rules adopted by the Division of Elementary and Secondary Education, to refund its bonds outstanding at any time. Any division rule that would prevent or delay a school district from refunding outstanding bonds may be waived by the Commissioner of Elementary and Secondary Education or the commissioner’s designee provided that the commissioner or the commissioner’s designee determines that it is in the best interest of the school district to proceed with the refunding immediately.  (b) This shall include the right to refund any loan it may at any time have outstanding from the Revolving Loan Fund.
AR Code § 6-20-1219 (2020)
2020 Arkansas Code|Title 6 - Education|Subtitle 2 - Elementary and Secondary Education Generally|Chapter 20 - Finances|Subchapter 12 - District Bonds|§ 6-20-1219. Record of bond issues

 In a book prepared for that purpose, the county treasurer, or school district treasurer if the school district has its own treasurer, shall keep in his or her office a full and complete record of all bond issues outstanding at the present time or to be issued hereafter showing the date of the issuance, the amount, the date of maturity, the rate of interest, and the dates and the amounts of payment thereon so that any interested persons may ascertain the true financial status of the school district's bonded indebtedness.
AR Code § 6-20-1220 (2020)
2020 Arkansas Code|Title 6 - Education|Subtitle 2 - Elementary and Secondary Education Generally|Chapter 20 - Finances|Subchapter 12 - District Bonds|§ 6-20-1220. Refunding bonds — Issuance with election — Validation

 Refunding bonds issued by any school district of the State of Arkansas, when authorized at any general or special school election by a vote of the electors of the school district for a continuing debt service fund to retire refunding bonds, shall be the valid, legal, and binding obligations of the school district provided that the issuance of the refunding bonds is approved by the State Board of Education or the Commissioner of Education before the issuance of the refunding bonds.
AR Code § 6-20-1222 (2020)
2020 Arkansas Code|Title 6 - Education|Subtitle 2 - Elementary and Secondary Education Generally|Chapter 20 - Finances|Subchapter 12 - District Bonds|§ 6-20-1222. Sale of school property securing deed of trust — Release of lien

 (a) When any school district of Arkansas desires to abandon any property for school purposes and to sell and convey the property and use the proceeds for either repairs or new construction of buildings for school purposes of the school district, the trustee of the deed of trust securing any bond issue of the school district and including the land so to be abandoned, sold, and conveyed shall have the power, if the trustee deems it to be to the best interest of the school district, to release the land to be sold or conveyed from the lien of the deed of trust by which the trustee is appointed.  (b) The release may be either by endorsement of the trustee, if an individual, or by endorsement by one (1) of the corporate officers of the trustee, if a corporation, on the margin of the record of the deed of trust, or by a separate instrument executed and placed on record in the county in which the land is situated.
AR Code § 6-20-1223 (2020)
2020 Arkansas Code|Title 6 - Education|Subtitle 2 - Elementary and Secondary Education Generally|Chapter 20 - Finances|Subchapter 12 - District Bonds|§ 6-20-1223. Refunding bonds — Issuance without election

 (a) School districts of this state may issue refunding bonds without the necessity of submitting the question of issuing the refunding bonds to a vote of the electors of the school district and without the approval of the State Board of Education provided that:  (1) The last maturity date of the refunding bonds is not later than the last maturity date of the bonds being refunded;  (2) The total amount required to pay principal and interest of the refunding bonds as they become due and payable, as well as any issuance costs required to be paid by the school district, exclusive of issuance costs paid from the proceeds of the refunding bonds, must be less than the total amount required to pay principal and interest of the bonds being refunded as they become due and payable; and  (3) The issue has been approved by the Commissioner of Elementary and Secondary Education or the commissioner’s designee subject to Division of Elementary and Secondary Education rules.    (b)  (1) Refunding bonds, authorized by a resolution of the board of directors of the school district issuing them, may enjoy the same security for their payment as was enjoyed by the bonds refunded thereby, including particularly, and without limitation, any continuing annual debt service fund taxes voted and pledged to the payment of the bonds refunded thereby, except that, in all school districts operating pursuant to federal court desegregation decrees, the refunding bonds may but shall not be required to enjoy the same security for payment as was enjoyed by the bonds refunded.  (2) Except as to the particulars dealt with in this section, refunding bonds shall be governed insofar as their authorization and security are concerned by provisions of existing law.
AR Code § 6-20-1224 (2020)
2020 Arkansas Code|Title 6 - Education|Subtitle 2 - Elementary and Secondary Education Generally|Chapter 20 - Finances|Subchapter 12 - District Bonds|§ 6-20-1224. Payment in full — Endorsement and certificate

 When any school district of Arkansas has paid in full all the bonds of any issue secured by an executed deed of trust with a nonresident trustee or with a trustee who since his or her appointment has become unable to serve, it shall be permitted through the school district's secretary to endorse the fact of payment upon the margin of the record of the deed of trust securing the bonds and to this shall be added the certificate of the circuit clerk if the school district can exhibit to him or her all of the paid and cancelled bonds and coupons.
AR Code § 6-20-1225 (2020)
2020 Arkansas Code|Title 6 - Education|Subtitle 2 - Elementary and Secondary Education Generally|Chapter 20 - Finances|Subchapter 12 - District Bonds|§ 6-20-1225. Certificates of indebtedness

 (a) A school district of Arkansas filing a petition in United States District Court for the composition of its bonded indebtedness and having more than five (5) years' past due interest on bonds being purchased at a discount, in order to facilitate such purchase, shall have the right to issue certificates of indebtedness payable, without interest over a period of five (5) years, from the surplus in the debt service fund and any other available revenue that the school district may pledge, for an amount not to exceed two (2) years' interest on the bonds being purchased and not to exceed two percent (2%) of the assessed valuation of all taxable property in the school district as shown by the last county assessment and may pledge the surplus and available revenue for their payment.  (b) In any case in which a school district has heretofore issued certificates of indebtedness under substantially the conditions outlined in subsection (a) of this section, such action of the school district is approved and confirmed and the certificates of indebtedness so issued are declared to be the binding obligations of that school district, provided their issuance has been ordered or approved by the United States District Court in which the petition for composition of debt was filed.
AR Code § 6-20-1226 (2020)
2020 Arkansas Code|Title 6 - Education|Subtitle 2 - Elementary and Secondary Education Generally|Chapter 20 - Finances|Subchapter 12 - District Bonds|§ 6-20-1226. Advancements for bond payments by county treasurer before settlement date

 In all school districts of the State of Arkansas that have voted a bond issue that calls for the payment of interest and principal before the date of settlement by the county treasurer with the school district of funds collected under a levy made by the school district for the purpose of retiring principal and interest of bond issue, the county treasurer is authorized to advance to the school district before the date of settlement and on the date payment is due a sum sufficient for the payment of principal and interest accruing under the bond issue out of the moneys held by him or her for the school district.