Arkansas § 14-92-306 - Borrowing of money.
Full text of Arkansas Arkansas Code of 1987 Annotated § 14-92-306 — Borrowing of money., with citation guidance and answers to common questions.
§ 14-92-306. Borrowing of money.
Consolidated systems may borrow money to pay and discharge any outstanding bond issues and indebtedness of the districts joining in the consolidations and may borrow money also for improvement, enlargement, and betterment of the facilities of the consolidated systems. To accomplish these purposes, the consolidated systems may issue negotiable coupon bonds or certificates of indebtedness evidencing the money so borrowed, to: Be secured solely by a pledge of the net revenues derived from the operation of the facilities; Bear interest not to exceed six percent (6%) per annum; Mature at such times and places as the issuer shall decide best, but in no event to mature later than forty (40) years after date of issue; Be issued with such terms of payment, call provisions, and interest rates as the issuer may decide best; and Be sold with the privilege of conversion to lower interest rates.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 14-92-306
What does Arkansas Code of 1987 Annotated § 14-92-306 cover?
Section 14-92-306 ("Borrowing of money.") 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 § 14-92-306?
A common citation format is "Arkansas Code of 1987 Annotated § 14-92-306" (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 § 14-92-306 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.