(a) It shall be plainly stated on the face of each bond that:
(1) It has been issued under the provisions of this chapter;
(2) The bonds shall be obligations only of the Arkansas Development Finance Authority, as specified in the applicable trust indenture; and
(3) In no event shall they constitute indebtedness for which the faith and credit of the State of Arkansas or any of its revenues, within the meaning of Arkansas Constitution, Amendment 20, are pledged.
(b) No member of the authority shall be personally liable on the bonds.
Section: Previous 14-95-602 14-95-603 14-95-604 14-95-605 14-95-606 14-95-607 14-95-608 14-95-609 14-95-610Last modified: November 15, 2016