Every bond issued by the state or by a political subdivision of the state shall be paid by the state or by the political subdivision unless it is barred by the statute of limitations.
Ark. Code Ann. § 19-6-105 — under Public Obligations.
Ark. Code Ann. § 19-6-105
Every bond issued by the state or by a political subdivision of the state shall be paid by the state or by the political subdivision unless it is barred by the statute of limitations.