Skip to main content

Arkansas Code Title 14. Local Government § 14-121-420. Drainage district assessments--Payment

Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.

(a) When assessments of benefits have been made in drainage districts organized either under general or special acts, the property owner shall have the right to pay the assessment in full within sixty (60) days after the formation of the district, but if he does not avail himself of this privilege, the assessment of benefits shall bear interest at the rate of six percent (6%) per annum and shall be payable only in installments as levied.

(b) The interest need not be computed until necessary to be sure that the collections have not exceeded the total amount of benefits and interest, or the interest may be first collected.

(c) However, this section shall not apply to districts heretofore organized in which interest on bonds or other borrowed money was calculated as a part of the cost of construction and included in the assessment of benefits.

Cite this article: FindLaw.com - Arkansas Code Title 14. Local Government § 14-121-420. Drainage district assessments--Payment - last updated January 01, 2020 | https://codes.findlaw.com/ar/title-14-local-government/ar-code-sect-14-121-420/


FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

Was this helpful?

Thank you. Your response has been sent.

Copied to clipboard