(a) In showing school taxes on the tax books, it shall not be necessary to show separate amounts for the debt service fund or any other fund that may be created by the school district board of directors, but there shall be one (1) amount extended on the tax books showing the total of the school district tax for that year.
(b) However, the county treasurer, or school district treasurer if the school district has its own treasurer, shall keep separate records in his or her office showing separately the debt service fund and shall see to it that on all settlements made with him or her of tax money or state apportionment money, the debt service fund is credited with all funds set apart for debt service by the electors or by the school district board of directors.
Structure Arkansas Code
Subtitle 2 - Elementary and Secondary Education Generally
Subchapter 12 - District Bonds
§ 6-20-1201. Authority to borrow money and issue negotiable bonds
§ 6-20-1202. Limitations of bonded indebtedness — Conversion of authorized bond issues
§ 6-20-1203. Bonds to comply with existing statutes
§ 6-20-1204. Form of bonds — Security
§ 6-20-1205. Submission of statement before issuing bonds — Approval
§ 6-20-1206. Manner and terms of sale — Maximum rate of interest
§ 6-20-1207. Delivery and payment in installments
§ 6-20-1208. Delivery of bonds upon payment in cash — Registration and recording
§ 6-20-1209. Debt service fund — Establishment and purpose
§ 6-20-1210. Debt service fund — Use
§ 6-20-1211. Tax records — Separate debt service fund records
§ 6-20-1212. Resolution setting priority in case of default
§ 6-20-1213. Duty to pay on maturity — Effect of failure
§ 6-20-1214. Obligations on district dissolution
§ 6-20-1215. Approval of bond issues
§ 6-20-1216. Refunding bonds — Authority to use
§ 6-20-1218. Refunding bonds — Maximum amounts — Conversion and sale
§ 6-20-1219. Record of bond issues
§ 6-20-1220. Refunding bonds — Issuance with election — Validation
§ 6-20-1222. Sale of school property securing deed of trust — Release of lien
§ 6-20-1223. Refunding bonds — Issuance without election
§ 6-20-1224. Payment in full — Endorsement and certificate
§ 6-20-1225. Certificates of indebtedness
§ 6-20-1226. Advancements for bond payments by county treasurer before settlement date
§ 6-20-1229. Issuance of second-lien commercial bonds — Definitions