Browse Arkansas Code titles and sections
27-76-607. Repayment.
Arkansas Code — all titles (historical 2020) · legal_authorities
27-76-607. Repayment.
(a) Bonds issued under this chapter shall be payable from revenues derived from the regional mobility authority's transportation system and any other unrestricted funds of the regional mobility authority.
(b) The bonds shall not in any event constitute an indebtedness of nor pledge the faith and credit of the State of Arkansas or the county or counties or municipality or municipalities creating the regional mobility authority within the meaning of any constitutional provisions or limitations.
(c) It shall be plainly stated on the face of each bond that it:
(1) Is issued under the provisions of this chapter;
(2) Does not constitute an indebtedness of the State of Arkansas or the county or counties or the municipality or municipalities creating the regional mobility authority within any constitutional provisions or limitations; and
(3) Is not backed by the full faith and credit of the State of Arkansas or the county or counties or municipality or municipalities creating the regional mobility authority.
(d) The bonds and the interest on the bonds shall be exempt from all state, county, and municipal taxation, including without limitation income taxation and inheritance taxation.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 27-76-607
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:27-76-607
Source file: gov.ar.code.title.27.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 89de2bd4261f4363da549ebd71c061f4bb7fee81550ad5124c384214b12e9047
Source location: content.xml paragraph 26288
Stored source content
27-76-607. Repayment.
(a) Bonds issued under this chapter shall be payable from revenues derived from the regional mobility authority's transportation system and any other unrestricted funds of the regional mobility authority.
(b) The bonds shall not in any event constitute an indebtedness of nor pledge the faith and credit of the State of Arkansas or the county or counties or municipality or municipalities creating the regional mobility authority within the meaning of any constitutional provisions or limitations.
(c) It shall be plainly stated on the face of each bond that it:
(1) Is issued under the provisions of this chapter;
(2) Does not constitute an indebtedness of the State of Arkansas or the county or counties or the municipality or municipalities creating the regional mobility authority within any constitutional provisions or limitations; and
(3) Is not backed by the full faith and credit of the State of Arkansas or the county or counties or municipality or municipalities creating the regional mobility authority.
(d) The bonds and the interest on the bonds shall be exempt from all state, county, and municipal taxation, including without limitation income taxation and inheritance taxation.
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.