Arkansas § 14-318-123 - Negotiable notes or bonds — Preliminary expenses and work.
Full text of Arkansas Arkansas Code of 1987 Annotated § 14-318-123 — Negotiable notes or bonds — Preliminary expenses and work., with citation guidance and answers to common questions.
§ 14-318-123. Negotiable notes or bonds — Preliminary expenses and work.
In order to meet preliminary expenses and to do the work, the board may issue the negotiable notes or bonds of the district, signed by the members of the board and bearing a rate of interest not exceeding six percent (6%) per annum. The board may pledge and mortgage all assessment of benefits for the payment thereof. No bonds issued under the terms of this chapter shall run for more than thirty (30) years, and all issues of bonds may be divided so that a portion thereof may mature each year as the assessments are collected or they may all be made payable at the same time with proper provisions for a sinking fund. The bonds shall not be sold for less than par value without the unanimous vote of the board.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 14-318-123
What does Arkansas Code of 1987 Annotated § 14-318-123 cover?
Section 14-318-123 ("Negotiable notes or bonds — Preliminary expenses and work.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 14-318-123?
A common citation format is "Arkansas Code of 1987 Annotated § 14-318-123" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 14-318-123 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.