2020 Arkansas Code
Title 8 - Environmental Law
Chapter 15 - Property Assessed Clean Energy Act
§ 8-15-111. District boards of directors — Powers and duties

(a) The board of directors of a property assessed energy improvement district may:

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

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

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

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

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

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

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

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

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

10. (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. (1) Allow a commission of:

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

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

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

2. (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.