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Digest of Laws Relating to Free Schools in the State of Arkansas
Digest of Laws Relating to Free Schools in the State of Arkansas Author:Arkansas Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: Special School District No , County, Arkansas, a majority of the electors of said district cast their votes "For Building Fund," and fixed the, amount or r... more »ate at..... mills; and that pursuant t the provisions of an Act approved on the day of" 19 , the board of directors of said Eural Special School District have borrowed from the sum of $ , for a period of years, which amount with interest at the rate of per cent per annum from this date until paid, is to be paid from funds arising from a tax of mills to be levied annually upon the property in said district. Witness our hands as directors of said Rural Special School District, on this the, day of The said certificate shall be executed in triplicate and signed by a majority of the board of directors. One copy shall be retained by the board, another shall be delivered to the lender, and the third shall be filed by the board of directors with the clerk of the county court. Upon the filing of said certificate, it shall be, the duty of the county court to levy each succeeding year a building tax of the amount or rate voted for, against the property in said district, until the amount thus borrowed, with the interest due thereon, has been fully paid. It shall be the duty of the county treasurer to pay the holder of said certificate upon demand, any funds to the credit of building funds of said district, applying the same first, to the payment of the interest due. Provided, that, whether the vote, be "For Building Fund," or "Against Building Fund," this shall not prevent the electors from voting for a building tax, as now provided by law. Provided, further, that the County Treasurer shaJ! receive no commission on the building funds of rural special school districts handled by him. Sec. 7591-i.—Law...« less