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 is and shall remain pledged to the payment of debt service on the bonds.
Structure Arkansas Code
Subtitle 2 - Elementary and Secondary Education Generally
Subchapter 26 - Arkansas Public School Academic Facilities Financing Act of 2007
§ 6-20-2603. Authority to issue bonds
§ 6-20-2604. Terms and characteristics of bonds
§ 6-20-2606. Resolutions and trust indentures
§ 6-20-2607. Form of bond — Signatures
§ 6-20-2609. Proceeds of bonds
§ 6-20-2610. Full faith and credit of state pledged to repay bonds
§ 6-20-2611. Payment of debt service on the bonds
§ 6-20-2612. Bonds exempt from state, county, and municipal taxes
§ 6-20-2614. Additional powers of the commission
§ 6-20-2615. No impairment of bond obligations
§ 6-20-2616. No obligations until bonds issued
§ 6-20-2618. Effect of election
§ 6-20-2619. No waiver of previous authority to issue bonds
§ 6-20-2621. Cases involving bonds