Bonds — Nature of indebtedness

  1. Law
  2. Arkansas Code
  3. Local Government
  4. Solid Waste Disposal, Waterworks, And Sewers Generally
  5. Waterworks and Water Supply
  6. Purchase and Construction
  7. Bonds — Nature of indebtedness

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  1. (a) Bonds issued under the provisions of this subchapter shall be payable solely from the revenues derived from the waterworks system.

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

  3. (c) 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 municipality within any constitutional or statutory limitation.


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