Arkansas § 14-269-108 Bonds - Indebtedness as special obligation - Payment of principal and interest

Arkansas Statutes

§ 14-269-108 — Bonds - Indebtedness as special obligation - Payment of principal and interest

Arkansas § 14-269-108

Title14

This text of Arkansas § 14-269-108 (Bonds - Indebtedness as special obligation - Payment of principal and interest) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 14-269-108 (2026).

Text

(a)The revenue bonds issued under this subchapter shall not be general obligations of the municipality but shall be special obligations. In no event shall the revenue bonds constitute an indebtedness of the municipality within the meaning of any constitutional or statutory limitation.

(b)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.

(c)The principal of and interest on the revenue bonds and paying agent's fees shall be payable from gross revenues derived from the lands, buildings, or facilities acquired, constructed, reconstructed, extended, or improved, in whole or in part, with the proceeds of the bo

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(a) The revenue bonds issued under this subchapter shall not be general obligations of the municipality but shall be special obligations. In no event shall the revenue bonds constitute an indebtedness of the municipality within the meaning of any constitutional or statutory limitation. (b) 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. (c) The principal of and interest on the revenue bonds and paying agent's fees shall be payable from gross revenues derived from the lands, buildings, or facilities acquired, constructed, reconstructed, extended, or improved, in whole or in part, with the proceeds of the bonds.