(a) Bonds provided for in this subchapter shall be issued in such amounts as may be necessary to provide sufficient funds to pay all costs of acquisition.(b)(1) Bonds issued under the provisions of this subchapter shall be payable solely from the revenues derived from the operation of the properties acquired. These bonds shall not, in any event, constitute an indebtedness of the county or municipality within the meaning of the constitutional provisions or limitations.(2) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this subchapter and that it does not constitute an indebtedness of the county or municipality within any constitutional or statutory limitation.Acts 1947, No. 250, § 6; A.S.A. 1947, § 19-3069. (a) Bonds provided for in this subchapter shall be issued in such amounts as may be necessary to provide sufficient funds to pay all costs of acquisition.(b)(1) Bonds issued under the provisions of this subchapter shall be payable solely from the revenues derived from the operation of the properties acquired. These bonds shall not, in any event, constitute an indebtedness of the county or municipality within the meaning of the constitutional provisions or limitations.(2) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this subchapter and that it does not constitute an indebtedness of the county or municipality within any constitutional or statutory limitation.Acts 1947, No. 250, § 6; A.S.A. 1947, § 19-3069.
Arkansas Legal Code