Arkansas § 14-234-217 Bonds - Nature of indebtedness

Arkansas Statutes

§ 14-234-217 — Bonds - Nature of indebtedness

(a)Bonds issued under the provisions of this subchapter shall be payable solely from the revenues derived from the waterworks system.

(b)The bonds shall not in any event constitute an indebtedness of the municipality within the meaning of the constitutional provisions or limitations.

(c)It shall be plainly stated on the face of each bond that it has been issued under the provisions of this subchapter and that it does not constitute an indebtedness of the municipality within any constitutional or statutory limitation.

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(a) Bonds issued under the provisions of this subchapter shall be payable solely from the revenues derived from the waterworks system. (b) The bonds shall not in any event constitute an indebtedness of the municipality within the meaning of the constitutional provisions or limitations. (c) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this subchapter and that it does not constitute an indebtedness of the municipality within any constitutional or statutory limitation.

Arkansas § 14-234-217 (Bonds - Nature of indebtedness) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.