(a) Bonds issued under the provisions of this subchapter shall be payable solely from the revenues derived from the port for the construction or acquisition of which the bonds were issued, and the bonds shall not in any event constitute an indebtedness of any such municipality or any such county within the meaning of the constitutional provisions or limitations.
(b) 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 or county within any constitutional or statutory limitation.
Structure Arkansas Code
Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities
Chapter 186 - Harbors And Port Facilities Generally
Subchapter 4 - Joint Operation of Ports by Municipalities and Counties
§ 14-186-401. Legislative intent
§ 14-186-404. Powers generally
§ 14-186-405. Provisions in authorizing ordinance or order
§ 14-186-407. Right of eminent domain
§ 14-186-408. Obligations incurred by municipalities or counties
§ 14-186-409. Issuance of revenue bonds generally
§ 14-186-410. Notice and hearing on issuance
§ 14-186-411. Execution and sale of bonds
§ 14-186-412. Payment of bonds
§ 14-186-413. Statutory mortgage lien
§ 14-186-414. Service rates and surplus
§ 14-186-415. Depository for funds