§ 2-350. Authority with respect to bonds.

This board shall have, with respect to the issuance of bonds authorized to be issued by it, the authority and power with respect thereto set forth and contained in the Act, which terms and provisions are hereby incorporated in this article as though herein expressly set forth, word for word, except to the extent of changes required for the provisions thereof to be consistent in the context of this article, and such additional authority as may be granted in similar provisions by amendment of the Act from time to time hereafter.

All bonds of the board shall be special obligation revenue bonds which shall be obligations only of the board and shall not constitute an indebtedness for which the faith and credit of Pulaski County, or any of its revenues are pledged, and the principal of and interest on the bonds shall be payable from and secured by a pledge of revenues derived from the waterworks projects financed, in whole or in part, from bond proceeds and as authorized by, and in accordance with, the provisions of the Act.

(Ord. No. 08-OR-34, § 7, 5-27-08)