Skip to main content
Find a Lawyer

Arkansas Code Title 27. Transportation § 27-76-607. Repayment

Current as of March 28, 2024 | Updated by Findlaw Staff

(a) Bonds issued under this chapter shall be payable from revenues derived from the regional mobility authority's transportation system and any other unrestricted funds of the regional mobility authority.

(b) The bonds shall not in any event constitute an indebtedness of nor pledge the faith and credit of the State of Arkansas or the county or counties or municipality or municipalities creating the regional mobility authority within the meaning of any constitutional provisions or limitations.

(c) It shall be plainly stated on the face of each bond that it:

(1) Is issued under the provisions of this chapter;

(2) Does not constitute an indebtedness of the State of Arkansas or the county or counties or the municipality or municipalities creating the regional mobility authority within any constitutional provisions or limitations; and

(3) Is not backed by the full faith and credit of the State of Arkansas or the county or counties or municipality or municipalities creating the regional mobility authority.

(d) The bonds and the interest on the bonds shall be exempt from all state, county, and municipal taxation, including without limitation income taxation and inheritance taxation.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Arkansas Code Title 27. Transportation § 27-76-607. Repayment - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-27-transportation/ar-code-sect-27-76-607/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard