All outstanding loans evidenced by revolving loan bonds and certificates of indebtedness made under the provisions of the laws or parts of laws repealed by this subchapter are validated, ratified, and confirmed; such evidences of debt are, respectively, found and declared to be the valid and subsisting obligations of the makers in accordance with the terms thereof, and the pledges to secure the payment of such obligations shall continue to be pledged for such purpose.
Structure Arkansas Code
Subtitle 2 - Elementary and Secondary Education Generally
Subchapter 8 - Revolving Loan Program — General Provisions
§ 6-20-801. Continuance of Revolving Loan Fund
§ 6-20-803. Loans to local school districts
§ 6-20-804. Application for loan
§ 6-20-805. Approval, partial approval, or disapproval of loans
§ 6-20-806. Revolving loan bonds and certificates of indebtedness
§ 6-20-807. Pledge to secure payment of obligation
§ 6-20-808. Pledge of ad valorem tax levy — Duty of county officers
§ 6-20-809. Loans secured by district sources other than ad valorem tax levy
§ 6-20-810. Certificate of approval — Instrument negotiable
§ 6-20-811. Delivery of obligations — Drawing and receipt of warrant — Use of funds
§ 6-20-812. Interest and payments of principal deposited into State Treasury
§ 6-20-813. Principal and interest charge against revenues of school district
§ 6-20-814. Default or threatened default
§ 6-20-815. Refunding obligations