(a) 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 are obligations only of the board, and that in no event shall they constitute an indebtedness for which the faith and credit of the creating county or any of its revenues are pledged.
(b) No member of the board 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 purpose and intent of this chapter unless he shall have acted with a corrupt intent.
Structure Arkansas Code
Subtitle 14 - Solid Waste Disposal, Waterworks, And Sewers Generally
Chapter 238 - Rural Waterworks Facilities Boards
§ 14-238-102. Legislative intent
§ 14-238-104. Provisions supplemental
§ 14-238-105. Construction of chapter
§ 14-238-106. Creation of boards
§ 14-238-107. Board names — Powers
§ 14-238-108. Members — Compensation
§ 14-238-110. Meetings — Quorum — Actions — Records
§ 14-238-112. Acquisition of property
§ 14-238-114. Issuance of bonds — Procedure
§ 14-238-115. Bonds for refunding obligations
§ 14-238-116. Payment of bonds
§ 14-238-117. Bonds may impose mortgage lien
§ 14-238-119. Bonds as obligation of issuing board
§ 14-238-120. Bonds tax exempt