The bonds shall be secured by, and contain a pledge of, any tax or combination of taxes authorized to pay the bonded indebtedness and shall be payable solely from the taxes authorized by this subchapter. However, the issuer is not prohibited from using other taxes, revenues, or receipts to retire the bonds.
Ark. Code Ann. § 14-164-316
Bonds generally — Pledge of taxes generally
Acts 1985, No. 871, § 5; A.S.A. 1947, § 13-1243.
Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.