GroundRules
Ark. Code Ann. § 14-303-404: Pledge of revenues to pay off bonds
Where this section sits in the code
- AR Code
- Title 14
- Chapter 303
- Subchapter 4
(a) The pledge of tollway project revenues to the payment of the principal of and interest on the revenue bonds shall be valid and binding from the time the pledge is made.
(b) The tollway project revenues so pledged shall immediately be subject to the lien of the pledge without any physical delivery thereof or further act.
(c) The lien of the pledge shall be valid and binding as against all parties having claims of any kind in tort, contract, or otherwise against an authority, irrespective of whether the parties have notice thereof.
(d) Neither the resolution of an authority, nor any trust indenture by which a pledge is created, need be filed or recorded in any office or other place except in the records of the authority involved, and in the office of the circuit clerk and ex officio recorder of the county in which the city involved is located.
Collected 2026-09-17T21:35:43Z. Source file · JSON
Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text. Source · License
Arkansas electronic product files were republished by Public.Resource.Org under a public-domain mark. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows. Source