§ 22-4-312 - Bonds for construction of Arkansas Museum of Natural Resources. - Arkansas Statutes

22-4-312. Bonds for construction of Arkansas Museum of Natural Resources.

(a) The State Parks, Recreation, and Travel Commission may, in accordance with the provisions of this subchapter, issue bonds in an amount not to exceed two million dollars ($2,000,000) for the purpose of providing funds for the construction of the Arkansas Museum of Natural Resources as provided for in 13-5-401 -- 13-5-404 and 26-58-301 and, to secure the bonds, may pledge all funds derived from a fee of twenty (20) mills per barrel of oil produced in this state and a fee of ten cents (10cent(s)) per one thousand (1,000) barrels of brine produced in this state for the purpose of bromine extraction as provided in 26-58-303.

(b) Bonds so issued shall not constitute an indebtedness of the commission or of the State of Arkansas within the meaning of any constitutional or statutory limitation, and this shall be so stated on the face of each bond.