§ 8-15-111. District boards of directors -- Powers and duties

AR Code § 8-15-111 (2018) (N/A)

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(a) The board of directors of a district may:

(1) Issue revenue bonds on behalf of the district;

(2) Make and adopt all necessary bylaws for its organization and operation;

(3) Elect officers and employ personnel necessary for its operation;

(4) Operate, maintain, expand, and fund a PACE project;

(5) Apply for, receive, and spend grants for any purpose under this chapter;

(6) Enter into agreements and contracts on behalf of the district;

(7) Receive property or funds by gift or donation for the finance and support of the district;

(8) Reimburse a governmental entity for expenses incurred in performing a service for the district;

(9) Assign assessments to a private lending institution; and

(10) Do all things necessary or appropriate to carry out the powers expressly granted or duties expressly imposed under this chapter.

(b) The board of directors shall:

(1) Allow a commission of:

(A) One and five-tenths percent (1.5%) for the extension of district assessments by the county assessor or county clerk;

(B) One and five-tenths percent (1.5%) for the collection of district assessments by the county collector; and

(C) One-eighth percent (0.125%) for services of a county treasurer in disbursing the moneys collected for district assessments; and

(2) Adopt rules consistent with this chapter or with other legislation that in its judgment may be necessary for the proper enforcement of this chapter.

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§ 8-15-110. District boards of directors -- Meetings

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§ 8-15-112. Reporting requirement -- Collection of assessments