The rate of depository interest to be paid by the depositories selected in accordance with § 14-123-314 and by those depositories selected in accordance with existing laws shall be such as, in the opinion of the board of directors or commissioners, is consistent with the security given and for the best interests of the district. However, if the board is unable to secure any interest on its deposits, then it is authorized to make such deposits without interest.
Structure Arkansas Code
Subtitle 7 - Water and Soil Improvement Districts
Chapter 123 - Levee Improvement Districts Generally
Subchapter 3 - Board of Directors or Assessors
§ 14-123-302. Voting by nonresident bondholders
§ 14-123-303. Certification of unopposed candidates without election
§ 14-123-304. Procedure at polls — Depositing ballots and returns
§ 14-123-305. Canvass of votes — Declaration of result — Contest
§ 14-123-306. Oath — Terms of office
§ 14-123-308. Powers and duties
§ 14-123-309. Records and reports
§ 14-123-311. Warrants — Employment and supervision of laborers
§ 14-123-312. Determination of necessary work — Survey and report
§ 14-123-313. Ownership of timber on right-of-way
§ 14-123-314. Depositories for funds
§ 14-123-315. Interest on deposits
§ 14-123-316. Compensation of directors, assessors, employees, etc