Arkansas § 6-20-2615 No impairment of bond obligations

Arkansas Statutes

§ 6-20-2615 — No impairment of bond obligations

Arkansas § 6-20-2615

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This text of Arkansas § 6-20-2615 (No impairment of bond obligations) 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. § 6-20-2615 (2026).

Text

(a)This subchapter constitutes a contract between the state and the registered owners of all bonds issued under this subchapter.

(b)The contract shall never be impaired, and any violation of its terms whether under purported legislative authority or otherwise shall be enjoined by the courts at the suit of any bondholder or any taxpayer.

(c)In like suit against the Commission for Arkansas Public School Academic Facilities and Transportation, the Treasurer of State, or other appropriate agency, officer, or official of the state, the courts shall prevent a diversion of any revenues pledged under this subchapter and shall compel the restoration of diverted revenues by injunction or mandamus.

(d)Without limiting any other appropriate remedy at law or in equity, a bondholder may, by an appro

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(a) This subchapter constitutes a contract between the state and the registered owners of all bonds issued under this subchapter. (b) The contract shall never be impaired, and any violation of its terms whether under purported legislative authority or otherwise shall be enjoined by the courts at the suit of any bondholder or any taxpayer. (c) In like suit against the Commission for Arkansas Public School Academic Facilities and Transportation, the Treasurer of State, or other appropriate agency, officer, or official of the state, the courts shall prevent a diversion of any revenues pledged under this subchapter and shall compel the restoration of diverted revenues by injunction or mandamus. (d) Without limiting any other appropriate remedy at law or in equity, a bondholder may, by an appropriate action including without limitation injunction or mandamus, compel the performance of all covenants and obligations of the state, its officers and officials, under this subchapter.