(a) It shall not be lawful for the board of commissioners of any suburban improvement district or any officer, member, or agent thereof to appropriate or use any money arising from the sale of any bonds authorized to be issued under this subchapter to any use or purpose whatever other than is specified and expressly directed.
(b) And any officer, member, or agent of the board of a district who shall violate any of the provisions of this subchapter as prescribed in this section shall be deemed guilty of a felony and, upon conviction shall be punished by imprisonment in the penitentiary for not less than one (1) year nor more than five (5) years.
Structure Arkansas Code
Subtitle 5 - Improvement Districts Generally
Chapter 92 - Suburban Improvement Districts
Subchapter 2 - Suburban Improvement Districts Generally
§ 14-92-202. Applicability of 1981 amendments
§ 14-92-204. Hearing prior to filing petition to form district
§ 14-92-205. Petition to form district
§ 14-92-206. Hearing on petition and determination
§ 14-92-207. Board of commissioners generally
§ 14-92-208. Interest of commissioners in purchase, acquisition, or donation
§ 14-92-209. Removal of commissioners — Vacancies
§ 14-92-210. Powers of board generally
§ 14-92-211. Bond of contractors
§ 14-92-212. Payments generally — Warrants
§ 14-92-213. Payments to contractor
§ 14-92-214. Legal services in organizing
§ 14-92-215. Sale of unnecessary materials
§ 14-92-216. Planning by board
§ 14-92-218. Petition by property owners to extend improvements
§ 14-92-219. Purposes for which district organized
§ 14-92-220. Powers of districts generally
§ 14-92-222. Right and power of eminent domain
§ 14-92-224. Priority of cases
§ 14-92-225. Assessment of benefits and damages
§ 14-92-226. Filing and notice of assessment
§ 14-92-229. Interest on assessments
§ 14-92-230. Extension and collection of taxes
§ 14-92-231. Subsequent levies
§ 14-92-232. Payment of taxes — Enforcement
§ 14-92-233. Notice of delinquency
§ 14-92-234. Notes, bonds, or evidences of debt
§ 14-92-236. Public contributions to road or street improvement districts
§ 14-92-237. Dissolution or conversion of district — Definition
§ 14-92-238. Lien for preliminary expenses