Arkansas § 14-139-114 Obligations payable solely from bond fund

Arkansas Statutes

§ 14-139-114 — Obligations payable solely from bond fund

(a)No obligation shall, or may, be incurred by the municipality in the construction or acquisition of the works contemplated by this chapter, or in the condemnation of property in connection therewith, except such as shall be payable solely from the funds to be acquired from the sale of revenue bonds of the character authorized by this chapter.

(b)In view of this section, the court, in condemnation proceedings instituted under this chapter by the municipality, may make such requirements of security as will serve to protect the landowner.

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(a) No obligation shall, or may, be incurred by the municipality in the construction or acquisition of the works contemplated by this chapter, or in the condemnation of property in connection therewith, except such as shall be payable solely from the funds to be acquired from the sale of revenue bonds of the character authorized by this chapter. (b) In view of this section, the court, in condemnation proceedings instituted under this chapter by the municipality, may make such requirements of security as will serve to protect the landowner.

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