Arkansas Code Title 14. Local Government § 14-120-329. Bond issuance--Requirements

(a) Bonds or notes may be sold and negotiated in any market, either at public or private sale, and may be made callable.

(b) The terms of sale, the rate of interest, and other conditions of the bonds or notes shall be as the board of directors of the district shall direct.

(c) A place of payment and the amount of the several installments to be paid each year may be fixed by the board.

(d) The bonds or notes so issued shall be signed by the president of the board and countersigned by the secretary.

(e) If the bonds are issued, the interest thereon shall be represented by semiannual coupons authenticated by the lithographed signature of the president of the board.