Purpose of loan

Ark. Code Ann. § 6-23-903 — under Arkansas Quality Charter Schools Act of 2013.

Ark. Code Ann. § 6-23-903

(1) An open-enrollment public charter school may borrow and the Division of Public School Academic Facilities and Transportation may lend money from the Open-Enrollment Public Charter School Facilities Loan Fund for:(1) The construction, lease, or purchase of an academic facility;(2) The repair, improvement, or addition to an academic facility; or(3) Credit enhancement for financing academic facility projects under subdivision (1) or subdivision (2) of this section.

(1) The construction, lease, or purchase of an academic facility;

(2) The repair, improvement, or addition to an academic facility; or

(3) Credit enhancement for financing academic facility projects under subdivision (1) or subdivision (2) of this section.