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2018 Arkansas Code
Title 22 - Public Property
Chapter 3 - Public Buildings and Other Facilities
Subchapter 12 - Public Facilities Finance Act of 1983
§ 22-3-1209. Certificates of indebtedness -- Pledge of revenues and restrictions generally
Universal Citation: AR Code § 22-3-1209 (2018)
(a) The certificates shall be the obligations of the Building Authority Division of the Department of Finance and Administration, and the nontax revenues available to the division under the provisions of § 22-3-1210, as distinguished from any tax moneys which may be made available for the operation of the division, are pledged to secure the payment of the certificates.
(b) The certificates shall contain a provision that neither the faith nor credit of the State of Arkansas nor any of its revenues are pledged to the payment of the certificates and that the debt is not the obligation of the division.
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