Bonds — Nature of indebtedness

  1. Law
  2. Arkansas Code
  3. Local Government
  4. Public Utilities Generally
  5. Natural Gas Distribution Systems
  6. Bonds — Nature of indebtedness

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  1. (a) Bonds issued under this chapter shall be payable solely from revenues derived from the gas system.

  2. (b) The bonds shall not, in any event, constitute an indebtedness of the municipality within the meaning of the constitutional provisions.

  3. (c) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this chapter.


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