No dissolution of a district under the terms of this act shall impair or deny any creditor of the district the right to the collection of its bona fide and valid indebtedness existing against the district, but the creditors of the district shall be subject to the provisions of this act in connection with the presentation, allowance, or other adjudication with reference to their claim.
Structure Arkansas Code
Subtitle 7 - Water and Soil Improvement Districts
Chapter 121 - Drainage Improvement Districts Generally
Subchapter 10 - Dissolution or Abolition of Districts
§ 14-121-1002. Filing petition
§ 14-121-1003. Notice and hearing
§ 14-121-1004. Contracts during pendency of petition
§ 14-121-1005. Valid indebtedness unimpaired
§ 14-121-1006. Claims against district
§ 14-121-1007. Partial continuance
§ 14-121-1008. Indebtedness of dissolved districts — Levy and collection of tax
§ 14-121-1009. Procedure when construction of improvement abandoned and all indebtedness paid