Arkansas Code Title 6. Education § 6-20-1214. Dissolution of districts--Obligations

(a) Dissolution of any school district shall not of itself mature any outstanding bonds or other unmatured obligations of the school district, but the school district to which the territory of the dissolved school district is added shall be liable for the bonds and for the levying of a tax to pay them as herein provided for the obligation of school districts when a school district or a part thereof is annexed to another district.

(b) In addition to the remedy of mandamus to enforce performance of the duties of school officers in the payment of bonds, any bondholder or trustee of such issue may apply to the circuit court having jurisdiction of the territory in which the school district is situated for mandatory orders for the collection of money due from the school district on all bonds for the levy and collection of such taxes.