Browse Arkansas Code titles and sections
14-234-509. Bonds — Nature of indebtedness.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-234-509. Bonds — Nature of indebtedness.
(a) Bonds issued under the provisions of this subchapter shall be payable solely from the total revenues derived from the waterworks systems of all of the municipalities joining in the undertaking.
(b) The bonds shall not in any event constitute an indebtedness of the municipalities within the meaning of the constitutional provisions or limitations.
(c) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this subchapter, that it does not constitute an indebtedness of the municipalities within any constitutional or statutory limitation, and that it is the joint and several obligation of all the municipalities executing the bond, payable solely from the total net revenues of the waterworks systems of the municipalities.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-234-509
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.
Issuing source page ↗
Authority boundary: historical statutory source snapshot not current law.
Open the recorded source website ↗
Record provenance
Stable record: arkansas_code:legal_authorities:14-234-509
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 17cd455c376d9ba87792fd78d6d5552ba9eb667d907d2a5600f6771d8a7ec344
Source location: content.xml paragraph 48912
Stored source content
14-234-509. Bonds — Nature of indebtedness.
(a) Bonds issued under the provisions of this subchapter shall be payable solely from the total revenues derived from the waterworks systems of all of the municipalities joining in the undertaking.
(b) The bonds shall not in any event constitute an indebtedness of the municipalities within the meaning of the constitutional provisions or limitations.
(c) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this subchapter, that it does not constitute an indebtedness of the municipalities within any constitutional or statutory limitation, and that it is the joint and several obligation of all the municipalities executing the bond, payable solely from the total net revenues of the waterworks systems of the municipalities.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
No explicit source connection was found. This does not mean there are no relevant authorities.