Statutes > Arkansas Statutes > Title 15 - Natural Resources and Economic Development > Subtitle 2 - Land And Water Resources Generally > Chapter 22 - Water Resources > Subchapter 7 - Arkansas Waste Disposal and Pollution Abatement Facilities Financing Act of 1987 > § 15-22-714 - Bonds as general obligations of state -- Pledge of revenues.

§ 15-22-714 - Bonds as general obligations of state -- Pledge of revenues.

15-22-714. Bonds as general obligations of state -- Pledge of revenues.

(a) The bonds shall be the direct general obligations of the State of Arkansas for the payment of debt service on which the full faith and credit of the State of Arkansas are irrevocably pledged so long as any such bonds are outstanding.

(b) The bonds shall be payable from the general revenues of the state as that term is defined in the Revenue Stabilization Law, 19-5-101 et seq., and such amount of general revenues as is necessary is pledged to the payment of debt service on the bonds and shall be and remain pledged for that purpose.