(a) It shall be plainly stated on the face of each bond that:
(1) It has been issued under the provisions of this subchapter;
(2) The bonds shall be obligations only of the Board of Trustees of the University of Arkansas;
(3) In no event shall they constitute an indebtedness for which the faith and credit of the State of Arkansas or any of its revenues are pledged; and
(4) The bonds are not secured by a mortgage or lien on any land or buildings belonging to the board or the State of Arkansas.
(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 purposes and intent of this subchapter unless he or she shall have acted with a corrupt intent.
Structure Arkansas Code
Subtitle 5 - Postsecondary and Higher Education Generally
Chapter 64 - University of Arkansas
§ 6-64-601. Construction — Subchapter exclusive authority
§ 6-64-602. Establishment — Name
§ 6-64-604. State Legal Education Fund generally
§ 6-64-605. Levy of costs — Cash funds
§ 6-64-606. Levy of costs — Use and priorities of funds collected
§ 6-64-607. Financing authority
§ 6-64-608. Bonds — Authorizing resolution — Trust indenture
§ 6-64-609. Bonds — Terms and conditions
§ 6-64-610. Bonds — Execution and seal
§ 6-64-612. Bonds — Pledge of costs levied by subchapter
§ 6-64-613. Bonds — Contract with holders and owner
§ 6-64-614. Bonds — Tax exemption
§ 6-64-615. Bonds — Investment of funds of retirement or pension systems
§ 6-64-616. Bonds — Construction fund
§ 6-64-617. Bonds — Use of excess costs
§ 6-64-618. Outstanding bonds — Change in costs for payments
§ 6-64-620. Construction of legal education facilities — Employment of professionals