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14-232-107. Bonds — Nature of indebtedness — Security.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-232-107. Bonds — Nature of indebtedness — Security.
(a) The revenue bonds issued under this chapter shall not be general obligations of the county or municipality but shall be special obligations.
(b) In no event shall the revenue bonds constitute an indebtedness of the county or municipality within the meaning of any constitutional or statutory limitation.
(c) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this chapter and that it does not constitute an indebtedness of the county or municipality within any constitutional or statutory limitation.
(d) The principal of and interest on the revenue bonds and the paying agent's fees shall be secured by a pledge of and payable from revenues derived from the rates or charges imposed and collected under the authority of this chapter.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-232-107
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:14-232-107
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 9fde3a0042646c8980ef60de46650d6f47e1624bfce82b7c796562e17d7a7971
Source location: content.xml paragraph 47520
Stored source content
14-232-107. Bonds — Nature of indebtedness — Security.
(a) The revenue bonds issued under this chapter shall not be general obligations of the county or municipality but shall be special obligations.
(b) In no event shall the revenue bonds constitute an indebtedness of the county or municipality within the meaning of any constitutional or statutory limitation.
(c) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this chapter and that it does not constitute an indebtedness of the county or municipality within any constitutional or statutory limitation.
(d) The principal of and interest on the revenue bonds and the paying agent's fees shall be secured by a pledge of and payable from revenues derived from the rates or charges imposed and collected under the authority of this chapter.
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