When any municipal street or water improvement district has fully retired and paid out the bonded indebtedness of the district and there remains a surplus of money derived from the collection of benefit assessments levied against the real property in the district for the purpose of retiring the bonds or funds derived from the sale of unredeemed real property acquired by the district, the surplus funds may be refunded to the property owners of the district pro rata by the board of improvement of the district. Acts 1949, No. 350, § 1; A.S.A. 1947, § 20-231; Acts 1995, No. 583, § 1. When any municipal street or water improvement district has fully retired and paid out the bonded indebtedness of the district and there remains a surplus of money derived from the collection of benefit assessments levied against the real property in the district for the purpose of retiring the bonds or funds derived from the sale of unredeemed real property acquired by the district, the surplus funds may be refunded to the property owners of the district pro rata by the board of improvement of the district. Acts 1949, No. 350, § 1; A.S.A. 1947, § 20-231; Acts 1995, No. 583, § 1. When any municipal street or water improvement district has fully retired and paid out the bonded indebtedness of the district and there remains a surplus of money derived from the collection of benefit assessments levied against the real property in the district for the purpose of retiring the bonds or funds derived from the sale of unredeemed real property acquired by the district, the surplus funds may be refunded to the property owners of the district pro rata by the board of improvement of the district. Acts 1949, No. 350, § 1; A.S.A. 1947, § 20-231; Acts 1995, No. 583, § 1. When any municipal street or water improvement district has fully retired and paid out the bonded indebtedness of the district and there remains a surplus of money derived from the collection of benefit assessments levied against the real property in the district for the purpose of retiring the bonds or funds derived from the sale of unredeemed real property acquired by the district, the surplus funds may be refunded to the property owners of the district pro rata by the board of improvement of the district. Acts 1949, No. 350, § 1; A.S.A. 1947, § 20-231; Acts 1995, No. 583, § 1.
‹ Prev All Arkansas sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.