Arkansas § 14-234-510 Obligation payable from revenue bonds only - Security in condemnation proceedings

Arkansas Statutes

§ 14-234-510 — Obligation payable from revenue bonds only - Security in condemnation proceedings

(a)No obligation shall, or may, be incurred by the several municipalities in the acquisition or construction of the waterworks systems contemplated under the provisions of this subchapter or in the condemnation of property in connection therewith, except those 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 provision, the court, in condemnation proceedings instituted under this subchapter by the several municipalities, may make requirements of security as will serve to protect the landowners.

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(a) No obligation shall, or may, be incurred by the several municipalities in the acquisition or construction of the waterworks systems contemplated under the provisions of this subchapter or in the condemnation of property in connection therewith, except those 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 provision, the court, in condemnation proceedings instituted under this subchapter by the several municipalities, may make requirements of security as will serve to protect the landowners.

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