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§ 6-20-1201. Authority to borrow money and issue negotiable bonds

AR Code § 6-20-1201 (2018) (N/A)
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(1) Building and equipping school buildings;

(2) Making additions and repairs to school buildings;

(3) Purchasing sites for school buildings;

(4) Purchasing new or used school buses;

(5) Refurbishing school buses;

(6) Providing professional development and training of teachers or other programs authorized under the federally recognized qualified zone academy bond program, 26 U.S.C. § 1397E;

(7) Paying off outstanding postdated warrants, installment contracts, revolving loans, and lease-purchase agreements, as provided by law; and

(8) In the case of a new school district created under § 6-13-1505:

(A) Purchasing school buildings and other structures;

(B) Purchasing new or used furniture, fixtures, and equipment;

(C) Paying the costs of the allocation of assets to the new school district; and

(D) Paying or retiring the outstanding indebtedness of the original school district that the new school district has become responsible for under § 6-13-1505.

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§ 6-20-1202. Limitations of bonded indebtedness -- Conversion of authorized bond issues