(a) Bonds may be sold and negotiated in any market after due advertisement and may be made callable as the board of directors may direct.
(b) The bonds so issued shall be signed by the president of the board and countersigned by the secretary.
(c) The bonds shall bear interest at a rate not exceeding an average of three and one-half percent (3½%) per annum, over the period of the life of the bonds, represented by semiannual coupons.
(d) The place of payment and the amount of the several installments to be paid each year may be fixed by the board.
(e) The interest coupons shall be authenticated by the lithographed signature of the president of the board.
Structure Arkansas Code
Subtitle 7 - Water and Soil Improvement Districts
Chapter 120 - Drainage and Levee Improvement Districts Generally
Subchapter 2 - Agreements with United States Generally
§ 14-120-201. Legislative intent
§ 14-120-204. Subchapter cumulative
§ 14-120-205. Conditions precedent to conferring powers on districts — In general
§ 14-120-206. Filing project outline and estimate
§ 14-120-207. Board approval of proposal
§ 14-120-208. Approval election generally
§ 14-120-209. Date of election
§ 14-120-210. Notice of election
§ 14-120-211. Election judges and clerks
§ 14-120-213. Voting — Certification of results
§ 14-120-214. Canvass of results — Judicial review
§ 14-120-215. Majority vote — Payment of expenses
§ 14-120-216. Contract authority
§ 14-120-217. Board authority to acquire land — Condemnation
§ 14-120-218. Conveyance of rights-of-way across state lands
§ 14-120-219. Agreements for construction across highways
§ 14-120-220. Eminent domain by the United States
§ 14-120-221. Board of assessors
§ 14-120-223. Assessment — Time, certification, and filing
§ 14-120-224. Board of assessment and equalization
§ 14-120-225. Chancery court review of assessment
§ 14-120-226. Tax levy by board to satisfy certain obligations
§ 14-120-227. Alternative method of assessment — Reassessment — Vacancies on board
§ 14-120-229. Penalty for delinquency — Enforcement proceedings generally
§ 14-120-230. Filing complaint — Notice
§ 14-120-231. Trial date — Continuance or dismissal
§ 14-120-233. Decree — Sale of real property by commissioner
§ 14-120-234. Execution of deed
§ 14-120-235. Redemption of property — Vacation of decree
§ 14-120-236. Tributary tax fund
§ 14-120-237. Disbursement of funds on vouchers
§ 14-120-238. Authority to borrow money and issue bonds — Purpose
§ 14-120-239. Issuance of bonds — Interest coupons
§ 14-120-240. Lithographing and registration of bonds
§ 14-120-241. Bonds — Sale prohibitions — Penalty
§ 14-120-242. Use of revenues for bond payment — Lien