Arkansas Code Title 14. Local Government § 14-118-112. Borrowing money--Issuing bonds

The acquisitions of rights-of-way, payment of damages, construction of bridges, maintenance, or any other payment or contribution required of the local interests by the plan of the district may be hastened by the borrowing of money by the board at a rate of interest not exceeding six percent (6%) per annum. The board may issue its negotiable bonds or its negotiable evidences of debt signed by such officers as the members of the board may, by resolution, designate, and the board may pledge all assessments of benefits for the repayment thereof.