Arkansas § 8-15-111 - District boards of directors — Powers and duties.

§ 8-15-111. District boards of directors — Powers and duties.

The board of directors of a property assessed energy improvement district may: Issue revenue bonds on behalf of the district; Make and adopt all necessary bylaws for its organization and operation; Elect officers and employ personnel necessary for its operation; Operate, maintain, expand, and fund a PACE project; Apply for, receive, and spend grants for any purpose under this chapter; Enter into agreements and contracts on behalf of the district; Receive property or funds by gift or donation for the finance and support of the district; Reimburse a governmental entity for expenses incurred in performing a service for the district; Assign assessments to a private lending institution; and Do all things necessary or appropriate to carry out the powers expressly granted or duties expressly imposed under this chapter. The board of directors shall: Allow a commission of: One and five-tenths percent (1.5%) for the extension of district assessments by the county assessor or county clerk; One and five-tenths percent (1.5%) for the collection of district assessments by the county collector; and One-eighth of one percent (0.125%) for services of a county treasurer in disbursing the moneys collected for district assessments; and Adopt rules consistent with this chapter or with other legislation that in its judgment may be necessary for the proper enforcement of this chapter.