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2019 Arkansas Code
Title 6 - Education
Subtitle 2 - Elementary and Secondary Education Generally
Chapter 20 - Finances
Subchapter 8 - Revolving Loan Program - General Provisions
§ 6-20-803. Loans to Local School Districts
Universal Citation: AR Code § 6-20-803 (2019)
(a) The maximum amount of money a local school district may borrow from the Revolving Loan Fund shall be five hundred thousand dollars ($500,000).
(b) Notwithstanding subsection (a) of this section, a school district participating in the Compressed Natural Gas School Bus Pilot Program under § 6-19-128 [repealed] additionally may borrow up to one million five hundred thousand dollars ($1,500,000) for the purchase of new compressed natural gas school buses.
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