reglab/statecodes huggingface dataset:
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 2 - CREATION OF DISTRICTS (§§ 14-88-201 — 14-88-213) › Section 14-88-212 - Districts to install electric streetlights in cities of more than 10,000 inhabitants

(a)
Local improvement districts may be organized in cities having more than ten thousand (10,000) inhabitants according to the federal census under the provisions of this chapter for the purpose of installing electric streetlights within the district and of supplying the lights with electric current.
(b)
The commissioners of the district are authorized to purchase, construct, and install the necessary columns, fixtures, wiring, conduits, and other appliances and to maintain them.
(c)
Districts may make contracts with municipalities, companies, or individuals supplying electricity for furnishing the necessary electric current during a period not exceeding twenty-five (25) years.
(d)
The district shall not cease to exist when the work is completed, and the improvement shall not be turned over to the city, but the district shall be operated by the commissioners thereof, to the end that the electric columns, wiring, fixtures, conduits, and other appliances may be kept in good condition and the electric current paid for out of the local assessments upon the property benefited.
Acts 1929, No. 207, § 1; A.S.A. 1947, § 20-103.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 2 - CREATION OF DISTRICTS (§§ 14-88-201 — 14-88-213) › Section 14-88-213 - Broadband internet service

(a)
A municipal improvement district may enter into a partnership with a private actor as provided by §
14-96-201
et seq. to:
(1)
Contract for, or provide, promote, and support broadband internet service through, a public-private partnership under §
14-96-201
et seq.; and
(2)
Finance public capital facilities or projects that include broadband internet service.
(b)
A municipal improvement district in existence on and after January 1, 2021, may conduct any of the activities under subsection (a) of this section using the notice and voting procedures under §
14-88-203
.
Added by Act 2021, No. 795,§ 1, eff. 7/28/2021.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 3 - MEMBERS - INCREASE IN NUMBER IN CERTAIN CITIES (§§ 14-88-301 — 14-88-312) › Section 14-88-302 - Oath of office

(a)
Each member of the board of improvement, within ten (10) days after his appointment, shall take the oath of office required by Arkansas Constitution, Article 19, § 20, and an oath that he will not, either directly or indirectly, be interested in any contract made by the board.
(b)
The oaths of office of the commissioners of municipal improvement districts may be taken before any officer authorized to administer oaths.
(c)
The oath required under this section shall be filed in the office of the city or town clerk.
(d)
If any member of the board shall fail to take this oath and to file it in the office of the clerk within the time allowed in this section, he shall be taken to have declined the office. The city or town council shall at once appoint another person, having the like qualifications, in his place, who shall take and file his oath of office within ten (10) days after his appointment.
Acts 1881, No. 84, § 3, p. 161; C. & M. Dig., §§ 5714, 5715; Acts 1929, No. 64, § 20; Pope's Dig., §§ 7353-7355; A.S.A. 1947, §§ 20-113 -- 20-115.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 3 - MEMBERS - INCREASE IN NUMBER IN CERTAIN CITIES (§§ 14-88-301 — 14-88-312) › Section 14-88-303 - Vacancies generally

(a)
A vacancy that occurs after a municipal board is organized shall be filled by the city or town council.
(b)
If a position on the board is vacant because of a resignation, death, removal under §
14-88-305
, refusal to act, or negligence, a new member shall be appointed by the city or town council, if a petition under §
14-88-304(b)(1)
is filed.
Amended by Act 2017, No. 924,§ 2, eff. 8/1/2017.
Acts 1881, No. 84, § 3, p. 161; 1909, No. 81, § 1, p. 224; C. & M. Dig., § 5716; Pope's Dig., § 7356; Acts 1961, No. 70, §§ 1, 2; A.S.A. 1947, § 20-116; Acts 1999, No. 1505, § 2.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 3 - MEMBERS - INCREASE IN NUMBER IN CERTAIN CITIES (§§ 14-88-301 — 14-88-312) › Section 14-88-304 - Petition of property owners to fill vacancy

(a)
(1)
The city or town council shall appoint a new commissioner to the board of commissioners of an improvement district created by the council if:
(A)
There is a vacancy on the board because a commissioner has died or has ceased to reside in the state in which the improvement district was created; and
(B)
Ten percent (10%) or more of the property owners of the improvement district petition the council calling attention to the vacancy on the board and requesting the appointment of a new commissioner to fill the vacancy.
(2)
A commissioner appointed under subdivision (a)(1) of this section shall be a property owner in the improvement district in which the vacancy occurs.
(b)
(1)
A person shall cease to be a commissioner on the board of commissioners upon the filing of a petition with the city or town council that:
(A)
Is signed by property owners representing ten percent (10%) or more of the assessed properties in the improvement district affected;
(B)
Recites that the commissioner is no longer a property owner in the improvement district;
(C)
Is accompanied by a corroborative certificate of an abstractor;
(D)
Indicates a vacancy exists under §
14-88-303
; and
(E)
Designates a person to fill the vacancy who is a property owner of assessed property in the improvement district.
(2)
The office is declared to be vacant from the date of filing the petition, and the council that created the improvement district shall name as commissioner of the improvement district to fill the vacancy the person named in the petition and recommended for commissioner of the improvement district if the person is a property owner in the improvement district.
Amended by Act 2017, No. 924,§ 3, eff. 8/1/2017.
Amended by Act 2015, No. 1043,§ 2, eff. 7/22/2015.
Acts 1941, No. 74, § 1; A.S.A. 1947, § 20-117.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 3 - MEMBERS - INCREASE IN NUMBER IN CERTAIN CITIES (§§ 14-88-301 — 14-88-312) › Section 14-88-305 - Removal of member

(a)
(1)
The city or town council may remove a municipal board of improvement or any member of the board by a two-thirds vote of the whole number of council members elected to the council.
(2)
(A)
Removal shall be for cause only, including without limitation noncompliance with state or federal law or local ordinance, and after a hearing upon sworn charges proffered in writing by a real property owner in the improvement district.
(B)
Ten (10) days' notice of the hearing of the charges shall be given.
(b)
The council may remove the board or any member of the board by a vote of a majority of the whole number of council members elected to the council, upon the written petition of fifteen percent (15%) of the owners of real property located within the improvement district stating that the petitioners believe it to be in the best interest of the improvement district, and after a mandatory hearing upon ten (10) days' notice to each member of the board affected.
Amended by Act 2017, No. 879,§ 36, eff. 8/1/2017.
Amended by Act 2015, No. 1043,§ 3, eff. 7/22/2015.
Acts 1881, No. 84, § 3, p. 161; 1909, No. 81, § 1, p. 224; C. & M. Dig., § 5716; Pope's Dig., § 7356; Acts 1961, No. 70, §§ 1, 2; A.S.A. 1947, § 20-116; Acts 1999, No. 1505, § 3.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 3 - MEMBERS - INCREASE IN NUMBER IN CERTAIN CITIES (§§ 14-88-301 — 14-88-312) › Section 14-88-306 - Chairman

A municipal board of improvement shall elect one (1) of their number chairman.
Acts 1881, No. 84, § 3, p. 161; 1909, No. 81, § 1, p. 224; C. & M. Dig., § 5716; Pope's Dig., § 7356; Acts 1961, No. 70, §§ 1, 2; A.S.A. 1947, § 20-116.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 3 - MEMBERS - INCREASE IN NUMBER IN CERTAIN CITIES (§§ 14-88-301 — 14-88-312) › Section 14-88-307 - Quorum

A majority of a municipal board of improvement shall constitute a quorum for the transaction of business and the performance of the duties enjoined by this act.
Acts 1881, No. 84, § 3, p. 161; C. & M. Dig., § 5717; Pope's Dig., § 7357; A.S.A. 1947, § 20-118.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 3 - MEMBERS - INCREASE IN NUMBER IN CERTAIN CITIES (§§ 14-88-301 — 14-88-312) › Section 14-88-308 - No compensation

The members of a municipal board shall receive no compensation for their services.
Acts 1881, No. 84, § 3, p. 161; 1909, No. 81, § 1, p. 224; C. & M. Dig., § 5716; Pope's Dig., § 7356; Acts 1961, No. 70, §§ 1, 2; A.S.A. 1947, § 20-116.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 3 - MEMBERS - INCREASE IN NUMBER IN CERTAIN CITIES (§§ 14-88-301 — 14-88-312) › Section 14-88-309 - Interest in contracts unlawful - Penalty

(a)
It shall be unlawful for any board of improvement, or any member thereof, in any city or town in this state to be interested, either directly or indirectly, in any contract made by the board for, or on behalf of, any improvement district.
(b)
Any person violating the provisions of this section commits a felony and shall be:
(1)
Fined in any sum not less than five hundred dollars ($500) nor more than five thousand dollars ($5,000); and
(2)
Imprisoned in the state penitentiary not less than one (1) year nor more than ten (10) years.
Acts 1909, No. 80, §§ 1, 4, p. 222; C. & M. Dig., §§ 5711, 5713; Pope's Dig., §§ 7350, 7352; Acts 1975, No. 928, § 7; A.S.A. 1947, §§ 20-120, 20-123.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 3 - MEMBERS - INCREASE IN NUMBER IN CERTAIN CITIES (§§ 14-88-301 — 14-88-312) › Section 14-88-310 - Interest in loans unlawful - Penalty

(a)
It shall be unlawful for a municipal board of improvement, or any member thereof, to:
(1)
Loan the funds, or to be interested in the loan of the funds, raised in any improvement district; or
(2)
Apply or use the funds for any purpose except the purpose for which they were raised; or
(3)
Purchase, or to be interested in the purchase of, any lot or lands sold for the payment of delinquent assessments; or
(4)
Loan money or furnish money or credit to any person, company, or corporation to make such a purchase.
(b)
Any person violating the provisions of this section commits a felony and shall be:
(1)
Fined in any sum not less than five hundred dollars ($500) nor more than five thousand dollars ($5,000); and
(2)
Imprisoned in the state penitentiary not less than one (1) year nor more than ten (10) years.
Acts 1909, No. 80, §§ 2, 4, p. 222; C. & M. Dig., §§ 5712, 5713; Pope's Dig., §§ 7351, 7352; Acts 1975, No. 928, § 7; A.S.A. 1947, §§ 20-121, 20-123.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 3 - MEMBERS - INCREASE IN NUMBER IN CERTAIN CITIES (§§ 14-88-301 — 14-88-312) › Section 14-88-311 - Combining boards

Where there is more than one (1) improvement district in the city or town for the same general purpose, the same member may be on two (2) or more boards of improvement, or the boards of different districts may combine so as to form only one (1) board for the whole territory, to be thus improved so as to make the whole improvement uniform. However no money raised by assessment in one (1) district shall be expended in another district.
Acts 1881, No. 84, § 3, p. 161; 1893, No. 158, § 1, p. 271; 1899, No. 94, § 1, p. 156; C. & M. Dig., § 5735; Pope's Dig., § 7363; A.S.A. 1947, § 20-119.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 3 - MEMBERS - INCREASE IN NUMBER IN CERTAIN CITIES (§§ 14-88-301 — 14-88-312) › Section 14-88-312 - Members - Increase in number in certain cities

(a)
(1)
Whenever a majority in value of the owners of real property in any municipal improvement district in cities of the first class with a population of between sixty-one thousand five hundred (61,500) and sixty-two thousand (62,000) persons according to the 1990 Federal Decennial Census shall petition the city council of the creating municipality for the board of improvement to be enlarged from three (3) members to five (5) members, then the city council shall pass an ordinance to expand the number of members of the board of improvement for the district, and to appoint two (2) additional owners of real property as commissioners of the district. Thereafter, the total membership of the board of improvement shall consist of five (5) members who shall serve staggered terms of three (3) years.
(2)
The initial terms of office of the two (2) additional members shall be determined by the appointing ordinance with one (1) individual serving an initial term of three (3) years and the second individual serving an initial term of two (2) years. Thereafter, the terms of office shall be three (3) years.
(3)
Commissioners serving at the time the petition is filed shall continue to serve.
(b)
Vacancies in the two (2) additional commissioners' positions shall be filled in the same manner as provided for filling vacancies under §
14-88-303
. The position shall be filled for the remainder of the unexpired term, except that no person who is removed as a commissioner shall qualify.
(c)
All action by the board of commissioners of any municipal improvement district affected by this section shall be by a majority vote of the membership of the board of improvement.
Acts 1999, No. 1505, § 4.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 4 - OFFICERS SERVING DISTRICTS (§§ 14-88-401 — 14-88-407) › Section 14-88-401 - Penalty for misuse of funds generally

Any commissioner, treasurer, attorney, or other subordinate officer appointed by a municipal board of improvement who uses or lends, or who participates, directly or indirectly, in any loan or use of funds belonging to the improvement district, for other than district purposes, shall be guilty of a felony. Upon conviction, he shall be confined in the penitentiary for a period of not more than five (5) years nor less than two (2) years.
Acts 1949, No. 195, § 24; 1953, No. 210, § 1; A.S.A. 1947, § 20-124.1.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 4 - OFFICERS SERVING DISTRICTS (§§ 14-88-401 — 14-88-407) › Section 14-88-402 - Unlawful actions by subordinate officers - Penalty

(a)
It shall be unlawful for the collector or treasurer of a municipal improvement district, or for any other subordinate officer appointed by the board of improvement, to loan or use, or to be interested in the loan or use of, any funds raised by the district.
(b)
Any person violating the provisions of this section commits a felony and shall be:
(1)
Fined in any sum not less than five hundred dollars ($500) nor more than five thousand dollars ($5,000); and
(2)
Imprisoned in the state penitentiary not less than one (1) year nor more than ten (10) years.
Acts 1909, No. 80, §§ 3, 4, p. 222; C. & M. Dig., §§ 5706, 5713; Pope's Dig., §§ 7345, 7352; Acts 1975, No. 928, § 7; A.S.A. 1947, §§ 20-122, 20-123.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 4 - OFFICERS SERVING DISTRICTS (§§ 14-88-401 — 14-88-407) › Section 14-88-403 - Appointment of collector and treasurer generally

(a)
The board of a municipal improvement district shall appoint the collector and treasurer of the district, who shall take the oath of office required by §
14-88-302
and shall execute bond to the chairman of the board, each in a sum at least equal to twice the amount of moneys which will probably come to their hands, with good and sufficient security, to be approved by the board. The bond shall be conditioned that they will faithfully discharge the duties of their office and account for and pay over all moneys that may come to their hands according to law and the orders of the board for the district for which they are appointed.
(b)
The Cities of Little Rock and Pine Bluff shall have power to provide, by ordinance, that the city collector shall be ex officio collector of improvement districts and to provide the manner of collecting and the compensation to be paid.
(c)
The same person may be treasurer or collector of one (1) or more districts in the city or town, but the moneys of the different districts shall be kept separately.
Acts 1881, No. 84, § 11, p. 161; 1897, No. 16, § 2, p. 23; C. & M. Dig., §§ 5702, 5703; Pope's Dig., §§ 7339, 7342; A.S.A. 1947, §§ 20-124, 20-125.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 4 - OFFICERS SERVING DISTRICTS (§§ 14-88-401 — 14-88-407) › Section 14-88-404 - Appointment of treasurer

(a)
(1)
A municipal board of improvement may appoint a treasurer of the district, who shall take the oath of office prescribed by §
14-88-302
and shall execute a bond in favor of the board in a sum equal to the amount of moneys that will probably come into his or her hands in any one (1) year.
(2)
The bond shall be signed by a corporate surety company authorized to do business as such in this state. It shall be conditioned that the treasurer will faithfully discharge the duties of his or her office and that he or she will account for and pay over all moneys that may come into his or her hands according to law and the orders of the board.
(b)
The same person may be treasurer of more than one (1) district, but moneys of each shall be kept separately.
(c)
(1)
The treasurer shall pay out no moneys except on order of the board.
(2)
Upon order of the board to pay out moneys, the chair or one (1) of the other commissioners appointed to act on behalf of the chair shall approve the warrant.
Acts 1949, No. 195, § 24; 1953, No. 210, § 1; A.S.A. 1947, § 20-124.1; Acts 2007, No. 131, § 1.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 4 - OFFICERS SERVING DISTRICTS (§§ 14-88-401 — 14-88-407) › Section 14-88-405 - City improvement collector

(a)
The city councils of the cities of the first class and cities of the second class may designate and appoint someone to collect all of the city improvement taxes, to be known as "city improvement collector".
(b)
When so appointed by the city council, the city improvement collector shall have exclusive authority to collect the taxes in all improvement districts lying wholly or partially within the city, except such taxes as are collected by the regular county tax collector.
(c)
The city improvement collector may or may not be a city official.
(d)
The city improvement collector shall receive such remuneration as shall be fixed by the city council.
(e)
The city improvement collector shall give a bond for the faithful discharge of his or her duties as approved by the city council.
(f)
The city improvement collector's term of office shall be fixed by the city council.
(g)
The city improvement collector shall maintain an office or place of business open at all reasonable hours.
(h)
(1)
When a city improvement collector has been appointed under this section and has qualified by giving bond, it shall be the duty of all persons at that time who are collecting such taxes to at once turn over to the city improvement collector all books and records in their possession pertaining to the collections.
(2)
Anyone failing to comply with this subsection is guilty of a violation and upon conviction shall be fined in any sum not less than fifty dollars ($50.00) nor more than five hundred dollars ($500).
Amended by Act 2023, No. 203,§ 19, eff. 8/1/2023.
Acts 1935, No. 78, §§ 1, 2; Pope's Dig., §§ 7340, 7341, 9663, 9664; A.S.A. 1947, §§ 20-126, 20-127.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 4 - OFFICERS SERVING DISTRICTS (§§ 14-88-401 — 14-88-407) › Section 14-88-406 - Attorney of cities of the second class and towns

(a)
(1)
In all cities of the second class and incorporated towns within the State of Arkansas, the attorney representing the municipality may be the attorney for all boards and commissioners of all local improvement districts within the city or incorporated town.
(2)
Municipal improvement districts formed under §
14-88-201
et seq. for the purpose of acquiring, constructing, operating, or maintaining a recreational facility, and local improvement districts within cities of the second class or incorporated towns, may, at their option, employ private attorneys in lieu of the city attorney.
(b)
(1)
It shall be the duty of the attorney to:
(A)
Advise the board at any time needed;
(B)
Do all things enjoined upon him by the commissioners; and
(C)
Perform all legal duties pertaining to the formation and operation of the district.
(2)
The attorney shall represent a board in all suits brought for or against it.
(c)
The attorney shall receive as his compensation such fees as may be agreed upon by the boards.
Acts 1931, No. 224, §§ 1-3; Pope's Dig., §§ 7338, 9757-9759; Acts 1985, No. 179, § 6; A.S.A. 1947, §§ 20-128 -- 20-130; Acts 1995, No. 362, § 1.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 4 - OFFICERS SERVING DISTRICTS (§§ 14-88-401 — 14-88-407) › Section 14-88-407 - Oath of assessor

The oaths of office of the assessors of municipal districts may be taken before any officer authorized to administer oaths.
Acts 1929, No. 64, § 20; Pope's Dig., § 7354; A.S.A. 1947, § 20-114.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 5 - AFFAIRS OF DISTRICTS (§§ 14-88-501 — 14-88-505) › Section 14-88-501 - Sale or lease of improvements

(a)
Any improvement district organized under the provisions of this chapter after February 1, 1967, may sell or lease its improvement, or any part thereof, to the city or town or to a public authority or other agency serving on behalf of the property owners of the district on such terms as the commissioners of the improvement board may deem for the best interest of the district and apply the proceeds therefrom on the payment of the principal of and interest on its outstanding bonds, if any, together with any paying agent's or other charges in connection therewith.
(b)
The city or town within which the district is located is authorized to purchase or to lease as lessee and to operate the improvement of the district on such terms as it may agree with the commissioners.
Acts 1967, No. 163, § 5; A.S.A. 1947, § 20-140.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 5 - AFFAIRS OF DISTRICTS (§§ 14-88-501 — 14-88-505) › Section 14-88-502 - Improvements outside limits

When, in the opinion of the board of a municipal improvement district or the boards of different improvement districts, where combined and acting together in a city or town, it shall be necessary for the benefit of the inhabitants residing in the district or districts, it shall be lawful for money raised by assessment in the districts to be expended in:
(1)
The purchase of lands or erection of houses, reservoirs, or other improvements necessary for the proper construction and operation of waterworks outside of the limits of the city or town in which the districts exist;
(2)
The construction and operation of any portion of a sewerage system, or acquisition of rights-of-way therefor, which may be extended outside of the limits of any such city, town, or improvement district.
Acts 1881, No. 84, § 3, p. 161; 1893, No. 158, § 1, p. 271; 1899, No. 94, § 1, p. 156; C. & M. Dig., § 5735; Pope's Dig., § 7363; A.S.A. 1947, § 20-119.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 5 - AFFAIRS OF DISTRICTS (§§ 14-88-501 — 14-88-505) › Section 14-88-503 - Annexation of territory to district

(a)
(1)
When persons claiming to be a majority in value of the owners of real property in any territory contiguous to any improvement district organized in any city or town desire that the territory shall be annexed to the district, they may present their petition in writing to the city or town council, describing the territory to be annexed and the character of the improvement desired.
(2)
Thereupon, the city or town council shall direct the clerk or recorder to publish for two (2) weeks, in some newspaper issued and having a general circulation in the county where the city or town is situated, a notice calling upon the property owners to appear before the council on a day named and show cause for or against the annexation.
(b)
(1)
On the day named in the notice, the council shall hear all persons who desire to be heard on the question whether a majority in value of the owners of real property in the territory sought to be annexed have signed the petition.
(2)
Its findings shall have all the force and effect of a judgment and shall be conclusive unless, within thirty (30) days thereafter, suit is brought in the chancery court to review it.
(c)
The finding of the council shall be expressed in an ordinance in case it is in favor of the petitioners, and in that event, the territory sought to be annexed shall become a part of the district, and the improvements petitioned for shall be made by the commissioners on the board of improvement.
(d)
The commissioners shall make the assessment for the improvement on the territory annexed under the provision of this section on the same basis as if the territory was included in the original district.
(e)
If petitioned for, the improvement in the territory annexed may be of different material or of a different method of construction from that in the original district.
Acts 1919, No. 280, § 1; C. & M. Dig., § 5733; Pope's Dig., § 7389; A.S.A. 1947, § 20-134.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 5 - AFFAIRS OF DISTRICTS (§§ 14-88-501 — 14-88-505) › Section 14-88-504 - Priority of suits

(a)
All suits which involve the validity of any municipal improvement district, of its assessment of benefits or any individual assessment, or of its power to make the improvement petitioned for, or which involve the title to office of any of the commissioners or assessors of the district, and all suits to collect its taxes laid on its assessed benefits, shall be deemed suits involving the public interest and shall be advanced in all courts and heard at the earliest practical moment.
(b)
All appeals in these suits shall be taken and perfected within thirty (30) days.
Acts 1913, No. 125, § 4; C. & M. Dig., § 5655; Acts 1929, No. 64, § 5; Pope's Dig., § 7289; A.S.A. 1947, § 20-132.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 5 - AFFAIRS OF DISTRICTS (§§ 14-88-501 — 14-88-505) › Section 14-88-505 - Records of meetings

(a)
The commissioners of a municipal improvement district shall maintain on file for inspection and copying a record of regular and special meetings of the municipal improvement district board.
(b)
The records kept under subsection (a) of this section shall include without limitation:
(1)
Meeting notices with date, time, and location;
(2)
Meeting agendas;
(3)
Detailed minutes of meetings;
(4)
Financial reports with supporting bank statements; and
(5)
Actions taken by the board with supporting documentation and plans, if any.
Added by Act 2013, No. 1428,§ 1, eff. 8/16/2013.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 6 - DISSOLUTION OF DISTRICTS (§§ 14-88-601 — 14-88-605) › Section 14-88-601 - Applicability

(a)
This subchapter shall not apply to any municipal improvement district which operates a water system, a sewerage system, or an electric light or power system; nor to any district whose commissioners are elected by property owners; nor to any district which is repairing streets, sidewalks, or other improvements from the proceeds of redemptions or sales of lands forfeited to it under previously existing laws.
(b)
This subchapter shall not apply to any municipal wharf improvement district or municipal paving improvement district which is entitled to, is eligible for, and can qualify for state aid and has not received any or all thereof.
Acts 1945, No. 215, § 1; A.S.A. 1947, § 20-136.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 6 - DISSOLUTION OF DISTRICTS (§§ 14-88-601 — 14-88-605) › Section 14-88-602 - Authority to wind up affairs

In any and all municipal improvement districts which, at the time of their organization, had boundaries coextensive with the city or town in which they were located, which have paid their bonds and other obligations and have levied no tax for the past five (5) years, and which still hold title to lands purchased at foreclosure sale for delinquent taxes or have past due taxes owing, and the commissioners on the board of improvement of the district have no further duties to perform except the collection of delinquent taxes, the commissioners may proceed to wind up their affairs as set out in this subchapter.
Acts 1945, No. 215, § 1; A.S.A. 1947, § 20-136.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 6 - DISSOLUTION OF DISTRICTS (§§ 14-88-601 — 14-88-605) › Section 14-88-603 - Procedures and final report

(a)
The commissioners on the board of a municipal improvement district shall execute a deed in favor of the city conveying all real estate as to which it holds title and shall turn over to the city clerk a list of all lands which have not been sold to the district, but which are delinquent for nonpayment of taxes, and shall pay to the city all funds which it has on hand.
(b)
The commissioners shall then file with the city or town council a final report bringing up to date its receipts and disbursements since the last annual report filed by it in compliance with §
14-89-1102
.
(c)
The city or town council shall examine and readjust the annual report as set out in §
14-89-1103
.
(d)
If the city or town council approves the report, the commissioners shall stand discharged from their duties in such capacity, and thereafter the city or town collector shall handle the collection of all delinquent taxes due the districts.
Acts 1945, No. 215, § 2; A.S.A. 1947, § 20-137.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 6 - DISSOLUTION OF DISTRICTS (§§ 14-88-601 — 14-88-605) › Section 14-88-604 - Conveyances of lands

All conveyances which are necessary as to lands to which a municipal improvement district holds title shall be executed under the hand of the mayor or acting mayor. The city or town seal shall be attached thereto, which shall be attested by the city or town clerk.
Acts 1945, No. 215, § 3; A.S.A. 1947, § 20-138.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 88 - MUNICIPAL IMPROVEMENT DISTRICTS GENERALLY (§§ 14-88-101 — 14-88-605) › Subchapter 6 - DISSOLUTION OF DISTRICTS (§§ 14-88-601 — 14-88-605) › Section 14-88-605 - Redemption of lands

(a)
Any person holding an interest in any land sold or delinquent to any municipal improvement district shall be permitted to obtain a deed or redemption receipt, as the case may be, by payment of the amount for which the land was sold to the district, without interest, or the face of the tax for which the land is delinquent in the event it has not been sold to the district.
(b)
All moneys received from any of these redemptions shall be placed in the street fund of the city and shall be used in the maintenance of the streets of the district. No funds so received by the city shall be diverted from the street fund and used for any other purposes.
Acts 1945, No. 215, § 4; A.S.A. 1947, § 20-139.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 89 - FISCAL AFFAIRS OF MUNICIPAL IMPROVEMENT DISTRICTS (§§ 14-89-101 — 14-89-1501) › Subchapter 1 - GENERAL PROVISIONS (§ 14-89-101) › Section 14-89-101 - Applicability of water district accounting law

(a)
Each municipal improvement district of any kind heretofore or hereafter established pursuant to the provisions of §§
14-88-203
,
14-88-205
-
14-88-207
shall be subject to and shall comply with the provisions of §
14-119-101
et seq.
(b)
If the board of improvement of any improvement district established pursuant to §§
14-88-203
,
14-88-205
-
14-88-207
fails or refuses to comply with any provision of §
14-119-101
et seq., such failure or refusal shall constitute misfeasance in office and shall be grounds for removal of the members of the board from office.
Acts 1985, No. 22, § 1; A.S.A. 1947, § 20-247.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 89 - FISCAL AFFAIRS OF MUNICIPAL IMPROVEMENT DISTRICTS (§§ 14-89-101 — 14-89-1501) › Subchapter 2 - BORROWING OF MONEY (§§ 14-89-201 — 14-89-203) › Section 14-89-201 - Authority generally

(a)
For preliminary expenses and to raise money to do the work or to pay for an improvement already completed, a municipal improvement district board may:
(1)
Borrow money not exceeding the estimated cost thereof, including interest on the money borrowed to a date six (6) months subsequent to the estimated date of completion of the work and a reserve not to exceed one (1) year's principal and interest requirements;
(2)
To that extent, issue negotiable bonds or certificates of indebtedness bearing interest at rates provided in the resolution authorizing their issuance; and
(3)
Pledge and mortgage all uncollected assessments for the payment thereof.
(b)
(1)
The board may also issue its negotiable bonds for the purpose of funding or refunding any of the floating debts of the improvement district or any outstanding bonds, including interest thereon due or about to become due, whether or not represented by coupons or interest certificates, theretofore issued to finance the construction of such an improvement already completed, including sewer systems, or to finance any betterments, extensions, or repairs thereto, irrespective of whether the outstanding bonds were originally issued by the improvement district.
(2)
(A)
The funding or refunding bonds may be exchanged for the outstanding bonds or interest thereon as provided in this section, or they may be sold and the proceeds thereof used in the retirement of the outstanding bonds and interest.
(B)
(i)
It shall be a felony for any officer of the district or any other person to use the proceeds of the funding or refunding bonds for any other purpose than that for which they are issued.
(ii)
The party guilty of such a felony shall be punished as provided in §§
14-88-309
,
14-88-310
,
14-88-402
.
(3)
For the repayment of funding or refunding bonds, the board may pledge and mortgage all uncollected assessments.
Acts 1881, No. 84, § 17, p. 161; C. & M. Dig., § 5708; Acts 1929, No. 64, § 17; Pope's Dig., § 7347; Acts 1941, No. 310, § 2; 1967, No. 163, § 3; 1970 (Ex. Sess.), No. 45, § 1; 1975, No. 224, § 2; 1981, No. 425, § 28; A.S.A. 1947, § 20-201.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 89 - FISCAL AFFAIRS OF MUNICIPAL IMPROVEMENT DISTRICTS (§§ 14-89-101 — 14-89-1501) › Subchapter 2 - BORROWING OF MONEY (§§ 14-89-201 — 14-89-203) › Section 14-89-202 - Mortgage of water and light plants

(a)
Any district improvement board in any city or incorporated town in this state, in addition to the power given to the board by any statute to pledge all uncollected assessments to secure money borrowed by the board for the purpose of and use in the building, construction, and putting into operation a system of waterworks or an electric light plant in any district shall also have the power to mortgage any waterworks system or electric light plant to secure the payment of money borrowed by any of the boards as indicated and used in the building and putting into operation any waterworks system or electric light plant in any improvement district in any city or incorporated town in this state.
(b)
Any such mortgagee or his assignees shall have all the rights against the property as is given mortgagees on property of individuals, either at law or in equity.
Acts 1897 (Ex. Sess.), No. 47, § 1, p. 114; C. & M. Dig., § 5709; Pope's Dig., § 7348; A.S.A. 1947, § 20-204.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 89 - FISCAL AFFAIRS OF MUNICIPAL IMPROVEMENT DISTRICTS (§§ 14-89-101 — 14-89-1501) › Subchapter 2 - BORROWING OF MONEY (§§ 14-89-201 — 14-89-203) › Section 14-89-203 - Electric streetlight districts in cities with a population of more than 10,000

Improvement districts for the purpose of installing electric streetlights in cities having more than ten thousand (10,000) inhabitants may borrow money for the purpose of doing the work of construction at a rate of interest provided in the resolution of the board of improvement and may mortgage their improvements and pledge their income as security for the money borrowed, and they may execute negotiable bonds for the money borrowed.
Acts 1929, No. 207, § 2; 1981, No. 425, § 31; A.S.A. 1947, § 20-202.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 89 - FISCAL AFFAIRS OF MUNICIPAL IMPROVEMENT DISTRICTS (§§ 14-89-101 — 14-89-1501) › Subchapter 3 - PAYMENT OF BONDS (§§ 14-89-301 — 14-89-302) › Section 14-89-301 - Use of funds to pay off

It shall be lawful for any municipal corporation or board of commissioners having control of any improvement district within a municipal corporation, or any work completed by any district, to appropriate and use any funds recovered in litigation or for operating expenses for the purpose of paying off any bonded indebtedness of the district when the funds are not needed for the operating expenses of the district.
Acts 1927, No. 201, § 1; Pope's Dig., § 7361; A.S.A. 1947, § 20-208.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 89 - FISCAL AFFAIRS OF MUNICIPAL IMPROVEMENT DISTRICTS (§§ 14-89-101 — 14-89-1501) › Subchapter 3 - PAYMENT OF BONDS (§§ 14-89-301 — 14-89-302) › Section 14-89-302 - Default in payment

(a)
If any bond or interest coupon on any bond issued by any municipal improvement district is not paid within sixty (60) days after its maturity, it shall be the duty of the chancery court, on application of the trustee for the bondholders or of the holder of any such bond or coupons overdue to cause the collection of the taxes of the district and appoint an assessor to reassess the benefits, if necessary.
(b)
The proceeds of the taxes and collections shall be applied after payment of cost, first to overdue interest and then to payment pro rata of all bonds issued by the board, which are then due and payable.
(c)
The commissioners may be directed by suit to foreclose the lien of the taxes on the land. A suit so brought by the commissioners shall be conducted in all matters as suits by the board and with like effect, and the decrees and deeds therein shall have the same presumptions in their favor.
Acts 1929, No. 64, § 22; Pope's Dig., § 7337; A.S.A. 1947, § 20-203.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 89 - FISCAL AFFAIRS OF MUNICIPAL IMPROVEMENT DISTRICTS (§§ 14-89-101 — 14-89-1501) › Subchapter 4 - REFUNDING INDEBTEDNESS (§§ 14-89-401 — 14-89-404) › Section 14-89-401 - Purpose

This subchapter is intended to permit only the refunding of valid outstanding bonds and accrued matured interest on the bonds of any municipal improvement district, expressly including bonds on which judgment has been rendered in any court and not including any other form of indebtedness, and then only after the board of improvement thirty (30) days prior to the actual refunding has given notice to do so in some newspaper of bona fide circulation in the county where the district which will refund is located.
Acts 1933, No. 112, § 1; 1937, No. 241, § 1; Pope's Dig., § 11343; Acts 1970 (Ex. Sess.), No. 43, § 1; 1975, No. 225, § 11; 1981, No. 425, § 11; A.S.A. 1947, § 20-205.
Arkansas Code of 1987 (2023) › Title 14 - LOCAL GOVERNMENT (§§ 14-1-101 — 14-387-706) › Subtitle 5 - IMPROVEMENT DISTRICTS GENERALLY (§§ 14-86-101 — 14-96-202) › Chapter 89 - FISCAL AFFAIRS OF MUNICIPAL IMPROVEMENT DISTRICTS (§§ 14-89-101 — 14-89-1501) › Subchapter 4 - REFUNDING INDEBTEDNESS (§§ 14-89-401 — 14-89-404) › Section 14-89-402 - Authority generally

(a)
Any municipal improvement district of any city of the first or second class or incorporated town of this state shall have the power to fund and refund its outstanding indebtedness, including its bonded indebtedness and accrued matured interest on the indebtedness, and to extend the maturity of the indebtedness on such terms as the commissioners of the district shall deem for the best interest of the district. To that end, the district may issue the negotiable bonds of the district, with interest coupons attached. These refunding bonds shall run for a period not exceeding fifty (50) years from date thereof.
(b)
The commissioners of the district may exchange new bonds for outstanding bonds, including accrued matured interest thereon, or may issue and sell new bonds and use the proceeds thereof to take up any of the outstanding bonds or other indebtedness of the district in the refunding thereof.
(c)
These refunding bonds shall not be issued in a greater amount than is necessary to pay the outstanding bonds and accrued interest coupons then being refunded, with interest to the date the new bonds are delivered, plus expenses incurred in connection with the issuance of the new bonds. They shall not be delivered except upon the surrender and cancellation of a proportionate part of the indebtedness being refunded.
(d)
These refunding bonds shall bear interest at such rate or rates as the commissioners shall provide in the resolution authorizing their issuance.
Acts 1933, No. 112, § 1; 1937, No. 241, § 1; Pope's Dig., § 11343; Acts 1970 (Ex. Sess.), No. 43, § 1; 1975, No. 225, § 11; 1981, No. 425, § 11; A.S.A. 1947, § 20-205.