§ 8-6-807 - Bonds -- Liability -- Payment and security. - Arkansas Statutes

8-6-807. Bonds -- Liability -- Payment and security.

(a) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this subchapter and that the bonds are obligations only of the regional solid waste management district.

(b) No member of the regional solid waste management board shall be personally liable on the bonds or for any damages sustained by anyone in connection with any contracts entered into in carrying out the purpose and intent of this subchapter unless he shall have acted with corrupt intent.

(c) The principal of and interest on the bonds shall be payable from and may be secured by a pledge of revenues derived from the project acquired, constructed, reconstructed, equipped, extended, or improved, in whole or in part, with the proceeds of the bonds or obligations of the owners of projects.