(a) Bonds issued under this chapter shall be payable solely from revenues derived from the gas system.
(b) The bonds shall not, in any event, constitute an indebtedness of the municipality within the meaning of the constitutional provisions.
(c) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this chapter.
Structure Arkansas Code
Subtitle 12 - Public Utilities Generally
Chapter 205 - Natural Gas Distribution Systems
§ 14-205-102. Election on bond issue
§ 14-205-103. Provisions of ordinance
§ 14-205-104. Publication of ordinance and notice
§ 14-205-106. Bonds as negotiable instruments — Execution
§ 14-205-107. Amounts of bonds
§ 14-205-108. Sale of bonds — Use of proceeds
§ 14-205-109. Interest on bonds
§ 14-205-110. Bonds — Nature of indebtedness