Ark. Code Ann. § 14-233-112

Bonds — Liability — Payment and security

Known as the Joint County and Municipal Solid Waste Disposal Act

The act spans §§ 14–14 (22 sections).

Applied in 1 court decision — leading case Barnhart v. City of Fayetteville, Ark. (1995)

Most recently applied in Barnhart v. City of Fayetteville, Ark. (June 1995)

Acts 1979, No. 699, § 8; A.S.A. 1947, § 82-2738; Acts 2005, No. 689, § 6; 2007, No. 599, § 4.

(1) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this chapter, that the bonds are obligations only of the sanitation authority, and that in no event shall they constitute an indebtedness for which the faith and credit of the member municipalities, counties, or districts or any of their revenues are pledged.

(2) No member of the board of directors shall be personally liable on the bonds or for any damages sustained by anyone in connection with any contracts entered into in carrying out the purpose and intent of this chapter unless he or she shall have acted with corrupt intent.

(3) The principal of and interest on the bonds shall be payable from and may be secured by a pledge of revenues received by the sanitation authority or obligations of the owners of projects.

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.