Arkansas § 12-41-612 Bonds - Liability on

Arkansas Statutes

§ 12-41-612 — Bonds - Liability on

(a)Bonds issued pursuant to this subchapter shall be obligations only of the county jail board, and in no event shall they constitute any indebtedness for which the faith and credit of the county issuing the bonds or any of its revenues, or of the state or any of its revenues, as used in Arkansas Constitution, Amendment 20, are pledged.

(b)The bonds shall not be secured by a mortgage or lien on any land, buildings, or property belonging to the county.

(c)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 or action taken in carrying out the powers, purposes, or authority of this subchapter or of the ordinance adopted by the quorum court unless he or she shall have acted with a corrupt intent.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Bonds issued pursuant to this subchapter shall be obligations only of the county jail board, and in no event shall they constitute any indebtedness for which the faith and credit of the county issuing the bonds or any of its revenues, or of the state or any of its revenues, as used in Arkansas Constitution, Amendment 20, are pledged. (b) The bonds shall not be secured by a mortgage or lien on any land, buildings, or property belonging to the county. (c) 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 or action taken in carrying out the powers, purposes, or authority of this subchapter or of the ordinance adopted by the quorum court unless he or she shall have acted with a corrupt intent.

Arkansas § 12-41-612 (Bonds - Liability on) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.