The assessment of the benefits shall bear interest at a rate equal to the lesser of the maximum rate permitted by law or the rate of ten percent (10%) per annum from the time it is equalized, but the interest need not be calculated until it is necessary to do so to avoid exceeding the total amount of benefits and interest, or the interest may be first collected.
Structure Arkansas Code
Subtitle 5 - Improvement Districts Generally
Chapter 94 - Municipal Property Owners' Improvement District Law
§ 14-94-102. Legislative intent
§ 14-94-105. Petition to form district
§ 14-94-106. Hearing on petition and determination
§ 14-94-107. Board of commissioners generally
§ 14-94-108. Removal of board members
§ 14-94-109. Planning by board
§ 14-94-110. Powers of districts generally
§ 14-94-112. Right of eminent domain
§ 14-94-114. Priority of cases
§ 14-94-115. Assessment of benefits and damages
§ 14-94-116. Filing and notice of assessment — Hearing
§ 14-94-119. Interest on assessment
§ 14-94-120. Extension and collection of taxes
§ 14-94-121. Subsequent levies
§ 14-94-122. Payment of taxes — Enforcement
§ 14-94-123. Negotiable notes, bonds, or evidence of debt
§ 14-94-125. Payment of bonds and interest
§ 14-94-126. Dissolution of district