There is a newer version
of
this Section
2017 Arkansas Code
Title 15 - Natural Resources and Economic Development
Subtitle 1 - Development of Economic and Natural Resources Generally
Chapter 4 - Development of Business and Industry Generally
Subchapter 32 - Arkansas Amendment 82 Implementation Act
§ 15-4-3214. General obligation bonds
Universal Citation: AR Code § 15-4-3214 (2017)
- (a) The bonds shall be direct general obligations of the state for the payment of debt service on which the full faith and credit of the state are irrevocably pledged so long as any of the bonds are outstanding.
- (b)
- (1) The bonds shall be payable from general revenues or special revenues, which shall be appropriated by the General Assembly for that purpose, and the amount of general revenues or, if applicable, special revenues as may be necessary are pledged to the payment of debt service on the bonds and shall be and remain pledged for those purposes.
- (2) In addition, each authorizing resolution or trust indenture may pledge all, a portion, or none of the revenues generated by any qualified Amendment 82 project as additional security for the bonds.
Disclaimer: These codes may not be the most recent version. Arkansas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
