(a) It shall be plainly stated on the face of each bond that:
(1) The bond has been issued under the provisions of this subchapter;
(2) The bonds are obligations only of the Secretary of the Department of Parks, Heritage, and Tourism;
(3) In no event do the bonds constitute an indebtedness for which the faith and credit of the State of Arkansas or any of its revenues are pledged; and
(4) The bonds are not secured by a mortgage or lien on any land or buildings belonging to the State of Arkansas or the Department of Parks, Heritage, and Tourism.
(b) No member of the department shall be personally liable on the bonds or for any damages sustained by anyone in connection with any contracts entered into in carrying out the purposes and intent of this subchapter unless he or she shall have acted with a corrupt intent.
Structure Arkansas Code
Title 13 - Libraries, Archives, and Cultural Resources
Subchapter 3 - Arkansas Museum and Cultural Center Act
§ 13-5-302. Construction of subchapter
§ 13-5-307. Funds for museum and cultural center — Issuance of bonds
§ 13-5-308. Authorizing resolutions
§ 13-5-309. Terms and characteristics of bonds
§ 13-5-310. Contract with bond owners — Enforcement
§ 13-5-312. Execution of bonds and coupons
§ 13-5-313. Statements on bonds — Liability
§ 13-5-314. Disposition of revenues
§ 13-5-315. Debt service — Pledge of revenues and earnings — Admission charges
§ 13-5-316. Administration of debt-servicing provisions — Bond guaranty fund
§ 13-5-319. Investment by retirement systems