Arkansas § 14-302-109 - Bonds as special obligations payable from street and parking revenues.
Full text of Arkansas Arkansas Code of 1987 Annotated § 14-302-109 — Bonds as special obligations payable from street and parking revenues., with citation guidance and answers to common questions.
§ 14-302-109. Bonds as special obligations payable from street and parking revenues.
The bonds shall not be general obligations of the municipality involved but shall be special obligations payable solely from the revenues specified in § 14-302-110. The principal of and interest on all bonds issued under the authority of this chapter shall be secured solely by a pledge of, and shall be payable solely from, street and parking revenues. The ordinance authorizing the issuance of bonds together with this chapter shall constitute a contract by and between the municipality and the holders and registered owners of all bonds issued by the municipality under the authority of this chapter, which contract, and all covenants, agreements, and obligations therein, shall be promptly performed in strict compliance with the terms and provisions of the contract. The contract and all rights of the holders and registered owners of the bonds and the obligations of the municipality may be enforced by mandamus or any other appropriate proceeding at law or in equity. It shall be plainly stated on the face of each bond that it has been issued under the provisions of this chapter.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 14-302-109
What does Arkansas Code of 1987 Annotated § 14-302-109 cover?
Section 14-302-109 ("Bonds as special obligations payable from street and parking revenues.") 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 § 14-302-109?
A common citation format is "Arkansas Code of 1987 Annotated § 14-302-109" (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 § 14-302-109 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.