(a) This subchapter constitutes a contract between the state and the registered owners of all State of Arkansas Water, Waste Disposal, and Pollution Abatement Facilities general obligation bonds issued under this subchapter.
(b) The contract described in subsection (a) of this section shall never be impaired, and any violation of the terms of the contract whether under purported legislative authority or otherwise shall be enjoined by the courts at the suit of any bondholder or any taxpayer.
(c) In a suit against the Arkansas Natural Resources Commission, 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 and its officers and officials under this subchapter.