Bonds may be sold to be delivered and paid for in installments estimated to be as funds will be needed by the school district; but if sold on such terms, they shall be plainly stated in the advertisement of the sale, so that all bidders may bid on equal terms.Acts 1931, No. 169, § 64; Pope's Dig., § 11497; A.S.A. 1947, § 80-1107.
Arkansas Legal Code