Statutes > Arkansas Statutes > Title 14 - Local Government > Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities > Chapter 186 - Harbors And Port Facilities Generally > Subchapter 4 - Joint Operation of Ports by Municipalities and Counties > § 14-186-412 - Payment of bonds.

§ 14-186-412 - Payment of bonds.

14-186-412. Payment of bonds.

(a) Bonds issued under the provisions of this subchapter shall be payable solely from the revenues derived from the port for the construction or acquisition of which the bonds were issued, and the bonds shall not in any event constitute an indebtedness of any such municipality or any such county within the meaning of the constitutional provisions or limitations.

(b) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this subchapter and that it does not constitute an indebtedness of the municipality or county within any constitutional or statutory limitation.