Arkansas § 14-186-408 Obligations incurred by municipalities or counties

Arkansas Statutes

§ 14-186-408 — Obligations incurred by municipalities or counties

(a)No obligation shall, nor may, be incurred by municipalities or counties in the construction or acquisition of any port contemplated in this subchapter, or in the condemnation of property in connection with it, 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 subchapter.

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

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(a) No obligation shall, nor may, be incurred by municipalities or counties in the construction or acquisition of any port contemplated in this subchapter, or in the condemnation of property in connection with it, 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 subchapter. (b) In view of this section, the court, in condemnation proceedings instituted under this subchapter by municipalities or counties, may make such requirements of security as will serve to protect the landowner.

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