GroundRules
Ark. Code Ann. § 6-20-2615: No impairment of bond obligations
Where this section sits in the code
- AR Code
- Title 6
- Chapter 20
- Subchapter 26
(a) This subchapter constitutes a contract between the state and the registered owners of all bonds issued under this subchapter.
(b) The contract shall never be impaired, and any violation of its terms whether under purported legislative authority or otherwise shall be enjoined by the courts at the suit of any bondholder or any taxpayer.
(c) In like suit against the Commission for Arkansas Public School Academic Facilities and Transportation, the Treasurer of State, or other appropriate agency, officer, or official of the state, the courts shall prevent a diversion of any revenues pledged under this subchapter and shall compel the restoration of diverted revenues by injunction or mandamus.
(d) Without limiting any other appropriate remedy at law or in equity, a bondholder may, by an appropriate action including without limitation injunction or mandamus, compel the performance of all covenants and obligations of the state, its officers and officials, under this subchapter.
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