It shall be plainly stated on the face of each bond that it has been issued under the provisions of this chapter, that the bonds shall be obligations only of the district, and that in no event shall they constitute any indebtedness for which the faith and credit of the municipality or any of its revenues, other than surplus utility revenues, are pledged.
Structure Arkansas Code
Subtitle 7 - Water and Soil Improvement Districts
Chapter 122 - Municipal Drainage Improvement Districts
Subchapter 2 - District Financing
§ 14-122-201. Authority to borrow money and issue bonds or certificates — Security
§ 14-122-203. Authorizing resolution
§ 14-122-205. Contents of bonds
§ 14-122-207. Execution of bonds — Seal
§ 14-122-208. Security and payment of bonds
§ 14-122-209. Bonds — Tax exemption
§ 14-122-210. Board liability on bonds
§ 14-122-211. Additional funds — Supplemental annual assessment