(a) No college or university shall be established or reestablished under the provisions of this chapter in the district created by this chapter or shall be made the recipient of or receive any benefits under provisions of this chapter or by reason thereof unless the college or university has conferred upon its graduates at the time of their graduation regular written degrees of bachelor of arts and bachelor of science for at least ten (10) years prior to January 1, 1949.
(b) No college or university shall be made the recipient of or receive any benefits under the provisions of or by reason of this chapter unless the college or university shall conduct regular four-year academic and scientific courses of study which are adequate and properly qualified for conferring the degrees of bachelor of arts and bachelor of science and other degrees and unless all the buildings occupied by the college or university in the district are wholly new and not in existence on January 1, 1949, and to be constructed thereafter for such college or university.
Structure Arkansas Code
Subtitle 5 - Postsecondary and Higher Education Generally
Chapter 71 - Improvement Districts for Colleges and Universities
§ 6-71-103. City of first class — Special improvement district
§ 6-71-104. Management commission
§ 6-71-105. Public notice of passage of chapter — Methods of approval
§ 6-71-106. Multidistrict counties
§ 6-71-107. Board of assessors — Assessment procedure
§ 6-71-108. Apportionment of assessments — Annual installments
§ 6-71-109. Assessment as lien on real property
§ 6-71-111. Limitation on assessments
§ 6-71-112. Assessment of railroads, tramroads, etc
§ 6-71-113. Maintenance assessments
§ 6-71-114. Collector and treasurer
§ 6-71-115. Borrowing of money — Bonds
§ 6-71-116. Warrant for collection of assessments — Form
§ 6-71-117. Publication of notice for collection
§ 6-71-118. Delinquent assessment — Penalty
§ 6-71-119. Suit to enforce lien
§ 6-71-120. Exhibition of resolutions or documents unnecessary
§ 6-71-121. Suits against several owners may be joined
§ 6-71-122. Owner as defendant — Proceedings in rem
§ 6-71-123. Summons — Return day — Default
§ 6-71-124. Constructive service
§ 6-71-125. Suits have precedence over other cases
§ 6-71-127. Suit in name of district
§ 6-71-128. Direction for sale of property
§ 6-71-129. Correction of description of property
§ 6-71-130. Commissioner's deed to purchaser
§ 6-71-131. Sale to best bidder or district
§ 6-71-132. Allowance to special commissioner for sale of land
§ 6-71-133. Certificate of purchase
§ 6-71-135. Reimbursement for assessments paid by purchaser
§ 6-71-136. Appeals to Supreme Court
§ 6-71-137. Notice by publication
§ 6-71-138. Appointment of guardian ad litem
§ 6-71-139. Power to hold and acquire property