Arkansas § 22-3-1209 Certificates of indebtedness - Pledge of revenues and restrictions generally

Arkansas Statutes

§ 22-3-1209 — Certificates of indebtedness - Pledge of revenues and restrictions generally

(a)The certificates shall be the obligations of the Building Authority Division, and the nontax revenues available to the division under the provisions of § 22-3-1210 , as distinguished from any tax moneys which may be made available for the operation of the division, are pledged to secure the payment of the certificates.

(b)The certificates shall contain a provision that neither the faith nor credit of the State of Arkansas nor any of its revenues are pledged to the payment of the certificates and that the debt is not the obligation of the division.

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(a) The certificates shall be the obligations of the Building Authority Division, and the nontax revenues available to the division under the provisions of § 22-3-1210 , as distinguished from any tax moneys which may be made available for the operation of the division, are pledged to secure the payment of the certificates. (b) The certificates shall contain a provision that neither the faith nor credit of the State of Arkansas nor any of its revenues are pledged to the payment of the certificates and that the debt is not the obligation of the division.

Arkansas § 22-3-1209 (Certificates of indebtedness - Pledge of revenues and restrictions generally) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Amended by Act 2019, No. 910,§ 6201, eff. 7/1/2019. Amended by Act 2016EX3, No. 3,§ 68, eff. 5/23/2016. Amended by Act 2016EX3, No. 2,§ 68, eff. 5/23/2016. Acts 1983, No. 458, § 4; A.S.A. 1947, § 13-2604.