§ 6-20-1226 - Advancements for bond payments by county treasurer prior to settlement date. - Arkansas Statutes

6-20-1226. Advancements for bond payments by county treasurer prior to settlement date.

In all school districts of the State of Arkansas that have voted a bond issue that calls for the payment of interest and principal prior to the date of settlement by the county treasurer with the school district of funds collected under a levy made by the school district for the purpose of retiring principal and interest of bond issue, the county treasurer is authorized to advance to the school district prior to the date of settlement and on the date payment is due a sum sufficient for the payment of principal and interest accruing under the bond issue out of the moneys held by him or her for the school district.