ADE Director's Communication Memo Form


Memo Number : FIN-10-045

Date Created : 12/07/2009

Attention:

Superintendents
Co-op Directors

Type of Memo: Informational
Response Required: No
   
Section:   Fiscal and Administrative Services - William J. Goff, Assistant Commissioner
Subject:
Act 1466 of 2009

Regulatory Authority:
Ark. Code Ann. 6-20-1206 and Act 1466 of 2009

Contact Person:
Cindy Hedrick

Phone Number:
501-682-4484

E-mail:
cindy.hedrick@arkansas.gov

Act 1466 of 2009 amends Ark. Code Ann. 6-20-1206 (a) (2) and (3) by authorizing the Commissioner of Education to allow a school district to advertise a bond sale by a method other than newspaper publication, in certain circumstances. This statute requires advertisement of a bond sale by publication in at least one newspaper published in the county one time a week for two weeks, with the first publication at least thirteen days before the date of the sale. If the newspaper responsible for publishing the advertisement of the bond sale fails to publish either one or both of the two required publications within the required time frame, the Commissioner of Education may approve an alternative form of advertisement of the sale. Generally, the fiscal agent representing the school district in the bond sale will work with the bond counsel to request this approval from the Commissioner of Education.

Attachments:

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