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14-238-119. Bonds as obligation of issuing board.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-238-119. Bonds as obligation of issuing board.
(a) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this chapter, that the bonds are obligations only of the board, and that in no event shall they constitute an indebtedness for which the faith and credit of the creating county or any of its revenues are pledged.
(b) No member of the board shall be personally liable on the bonds or for any damages sustained by anyone in connection with any contracts entered into in carrying out the purpose and intent of this chapter unless he shall have acted with a corrupt intent.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-238-119
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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Stable record: arkansas_code:legal_authorities:14-238-119
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: fa7fbf006651e3a07c237d3bfc5b2f5e75524fb346de8bccb3f8975f1b444775
Source location: content.xml paragraph 50457
Stored source content
14-238-119. Bonds as obligation of issuing board.
(a) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this chapter, that the bonds are obligations only of the board, and that in no event shall they constitute an indebtedness for which the faith and credit of the creating county or any of its revenues are pledged.
(b) No member of the board shall be personally liable on the bonds or for any damages sustained by anyone in connection with any contracts entered into in carrying out the purpose and intent of this chapter unless he shall have acted with a corrupt intent.
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