Arkansas § 14-265-107 - Bonds — Indebtedness as special obligation — Payment of principal and interest.
Full text of Arkansas Arkansas Code of 1987 Annotated § 14-265-107 — Bonds — Indebtedness as special obligation — Payment of principal and interest., with citation guidance and answers to common questions.
§ 14-265-107. Bonds — Indebtedness as special obligation — Payment of principal and interest.
The revenue bonds shall not be general obligations of the municipality or county, but they shall be special obligations. In no event shall the revenue bonds constitute an indebtedness of the municipality or county within the meaning of any constitutional or statutory limitation. It shall be plainly stated on the face of each bond that it has been issued under the provisions of this chapter and that it does not constitute an indebtedness of the municipality or county within any constitutional or statutory limitation. The principal of, and interest on, the revenue bonds and paying agent's fees shall be payable in the first instance from gross revenues derived from the lands, buildings, and facilities acquired, constructed, reconstructed, extended, and improved, in whole or in part, with the proceeds of the bonds, and, for that purpose, the municipality or county may pledge all or any part of the gross revenues. In addition, the municipality or county is authorized to pledge to, and use for, the payment of the principal of and interest on the bonds, and for paying agent's fees, surplus revenues derived from water, sewer, gas, and electric utilities owned by the municipality or county. As used in this subsection, “surplus revenues” means revenues remaining after adequate provision shall have been made for expenses of operation, maintenance, and depreciation and after all requirements of ordinances, orders, and indentures securing bonds theretofore or thereafter issued to finance the cost of acquiring, constructing, reconstructing, extending, and improving the utilities, have been fully met and complied with. The municipality or county is also authorized to use, for the payment of the principal of and interest on the bonds and for paying agent's fees, moneys in the general fund of the municipality or county.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 14-265-107
What does Arkansas Code of 1987 Annotated § 14-265-107 cover?
Section 14-265-107 ("Bonds — Indebtedness as special obligation — Payment of principal and interest.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 14-265-107?
A common citation format is "Arkansas Code of 1987 Annotated § 14-265-107" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 14-265-107 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.