(1) As used in this chapter:(1) “County” means a county of this state or, where a county is divided into two (2) districts, “county” means the entire county or either district of the county;(2) “Governing body” means the:(A) Council, board of directors, or other like body in which the legislative functions of a municipality are vested; or(B) Quorum court of the county as the quorum court has been duly constituted and acting as the legislative body of the county under Arkansas Constitution, Amendment 55, or if not so constituted and acting, the county court of the county;(3) “Industrial development authority” means a public benefit corporation authorized by one (1) or more local governments as a political subdivision of the state for the purpose of securing and developing industry and fostering economic development and that is invested with all the powers that may be necessary to enable it to accomplish those purposes;(4) “Local government” means a county or a municipality;(5) “Mortgage lien” means a security interest in any personal property embodied in the facilities acquired, constructed, reconstructed, extended, equipped, or improved, in whole or in part, with the proceeds of bonds issued under this chapter;(6) “Municipality” means a city of the first class, a city of the second class, or an incorporated town; and(7) “Person” means any natural person, partnership, corporation, association, organization, business trust, and public or private person or entity.
(1) “County” means a county of this state or, where a county is divided into two (2) districts, “county” means the entire county or either district of the county;
(2) “Governing body” means the:(A) Council, board of directors, or other like body in which the legislative functions of a municipality are vested; or(B) Quorum court of the county as the quorum court has been duly constituted and acting as the legislative body of the county under Arkansas Constitution, Amendment 55, or if not so constituted and acting, the county court of the county;
(A) Council, board of directors, or other like body in which the legislative functions of a municipality are vested; or
(B) Quorum court of the county as the quorum court has been duly constituted and acting as the legislative body of the county under Arkansas Constitution, Amendment 55, or if not so constituted and acting, the county court of the county;
(3) “Industrial development authority” means a public benefit corporation authorized by one (1) or more local governments as a political subdivision of the state for the purpose of securing and developing industry and fostering economic development and that is invested with all the powers that may be necessary to enable it to accomplish those purposes;
(4) “Local government” means a county or a municipality;
(5) “Mortgage lien” means a security interest in any personal property embodied in the facilities acquired, constructed, reconstructed, extended, equipped, or improved, in whole or in part, with the proceeds of bonds issued under this chapter;
(6) “Municipality” means a city of the first class, a city of the second class, or an incorporated town; and
(7) “Person” means any natural person, partnership, corporation, association, organization, business trust, and public or private person or entity.