Ark. Code Ann. § 15-4-3214
This is the official text of Ark. Code Ann. § 15-4-3214, part of Arkansas’s Code Ann — part of the compiled statutory law of Arkansas, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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General obligation bonds
Official statutory text
(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. Amended by Act 2015, No. 593,§ 7, eff. 7/22/2015. Acts 2005, No. 1981, § 1.
(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.
(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.
Amended by Act 2015, No. 593,§ 7, eff. 7/22/2015.
Acts 2005, No. 1981, § 1.
(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.
(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.
Amended by Act 2015, No. 593,§ 7, eff. 7/22/2015.
Acts 2005, No. 1981, § 1.
Status: in_force
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