The bonds shall be the direct general obligations of the state for the payment of debt service on which the full faith and credit of the state are irrevocably pledged so long as any such bonds are outstanding. The bonds shall be payable from the general revenues of the state and the amount of general revenues of the state as is necessary, and shall remain pledged to the payment of debt service on the bonds.
Structure Arkansas Code
Title 15 - Natural Resources and Economic Development
Subtitle 2 - Land and Water Resources Generally
Chapter 20 - General Provisions
§ 15-20-1303. Authority to issue bonds
§ 15-20-1304. Terms and characteristics of bonds
§ 15-20-1305. Purpose of bonds
§ 15-20-1306. Resolutions and trust indentures
§ 15-20-1307. Form of bond — Signatures
§ 15-20-1309. Proceeds of bonds
§ 15-20-1310. Full faith and credit of state pledged to repay bonds
§ 15-20-1311. Payment of debt service on the bonds
§ 15-20-1312. Bonds exempt from state, county, and municipal taxes
§ 15-20-1314. Additional powers of the Arkansas Natural Resources Commission
§ 15-20-1315. No impairment of bond obligations
§ 15-20-1316. No obligations until bonds issued
§ 15-20-1317. No impairment of outstanding bonds
§ 15-20-1319. Effect of election
§ 15-20-1320. No waiver of previous authority to issue bonds