(a) The principal of and interest on the revenue bonds issued pursuant to this section and § 14-164-402 shall be secured by a pledge of, and shall be payable from, revenues, as defined in § 14-164-402.
(b) Notwithstanding any provision of Arkansas law including, but not limited, § 14-200-101, et seq., in any municipality or county in which revenues have been pledged to secure the payment of revenue bonds as authorized by this subchapter, the portion of the revenues pledged to retire the revenue bonds shall not, except as permitted by the ordinance, order or trust indenture pursuant to which such revenue bonds are issued and secured, be repealed, abolished, or reduced so long as such revenue bonds, and any bonds issued to refund such revenue bonds, are outstanding.
Section: Previous 14-164-404 14-164-405 14-164-406 14-164-407 14-164-408 14-164-409 14-164-410 14-164-411 14-164-412 14-164-413 14-164-414 14-164-415 14-164-416 14-164-417 14-164-418 NextLast modified: November 15, 2016