§ 15-4-3014 - General obligations bonds. - Arkansas Statutes

15-4-3014. General obligations bonds.

(a) The bonds shall be direct general obligations of the state for the payment of debt service on which the full faith and credit of the state are irrevocably pledged so long as any of the bonds are outstanding.

(b) The bonds shall be payable from the Economic Development Superprojects Project Fund and, if necessary, from general revenues, and such amount of general revenues as may be necessary is pledged to the payment of debt service on the bonds and shall be and remain pledged for those purposes.