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Ark. Code Ann. § 14-205-110

Bonds — Nature of indebtedness

Acts 1949, No. 71, § 10; A.S.A. 1947, § 19-4810.

(1) Bonds issued under this chapter shall be payable solely from revenues derived from the gas system.

(2) The bonds shall not, in any event, constitute an indebtedness of the municipality within the meaning of the constitutional provisions.

(3) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this chapter.

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.