(a) The maximum amount of money a local school district may borrow from the Revolving Loan Fund shall be five hundred thousand dollars ($500,000).(b) Notwithstanding subsection (a) of this section, a school district participating in the Compressed Natural Gas School Bus Pilot Program under § 6-19-128 [repealed] additionally may borrow up to one million five hundred thousand dollars ($1,500,000) for the purchase of new compressed natural gas school buses.Amended by Act 2013, No. 1195,§ 2, eff. 8/16/2013.Acts 1987, No. 552, § 1; 1995, No. 913, § 1; 2006 (1st Ex. Sess.), No. 22, § 4; 2006 (1st Ex. Sess.), No. 23, § 4.
Arkansas Legal Code