(a) (1) It is determined by the General Assembly that the following are necessary for and useful in the securing and developing of industry in the State of Arkansas:(A) Commerce and industrial parks;(B) Research, technology, and development proving grounds and facilities;(C) Job training facilities, air cargo operations, depots for military use, rail lines, rail transload operations, and short-line railroads;(D) All other qualifying economic development projects under § 14-174-105; and(E) The facilities authorized to be acquired, constructed, reconstructed, extended, equipped, or improved by an industrial development authority under this chapter.(2) Therefore, an industrial development authority may contract with the local governments represented on the board of directors of the industrial development authority for the local governments to make available the proceeds of bonds issued under Arkansas Constitution, Amendment 62, or prior amendments to the Arkansas Constitution repealed by Arkansas Constitution, Amendment 62, to the industrial development authority for the purpose of financially assisting the industrial development authority to accomplish the purposes of this chapter consistent with Arkansas Constitution, Amendment 62, or prior amendments to the Arkansas Constitution repealed by Arkansas Constitution, Amendment 62.
(1) It is determined by the General Assembly that the following are necessary for and useful in the securing and developing of industry in the State of Arkansas:(A) Commerce and industrial parks;(B) Research, technology, and development proving grounds and facilities;(C) Job training facilities, air cargo operations, depots for military use, rail lines, rail transload operations, and short-line railroads;(D) All other qualifying economic development projects under § 14-174-105; and(E) The facilities authorized to be acquired, constructed, reconstructed, extended, equipped, or improved by an industrial development authority under this chapter.
(A) Commerce and industrial parks;
(B) Research, technology, and development proving grounds and facilities;
(C) Job training facilities, air cargo operations, depots for military use, rail lines, rail transload operations, and short-line railroads;
(D) All other qualifying economic development projects under § 14-174-105; and
(E) The facilities authorized to be acquired, constructed, reconstructed, extended, equipped, or improved by an industrial development authority under this chapter.
(2) Therefore, an industrial development authority may contract with the local governments represented on the board of directors of the industrial development authority for the local governments to make available the proceeds of bonds issued under Arkansas Constitution, Amendment 62, or prior amendments to the Arkansas Constitution repealed by Arkansas Constitution, Amendment 62, to the industrial development authority for the purpose of financially assisting the industrial development authority to accomplish the purposes of this chapter consistent with Arkansas Constitution, Amendment 62, or prior amendments to the Arkansas Constitution repealed by Arkansas Constitution, Amendment 62.
(b) (1) In addition, local governments may use and make available to an industrial development authority, by way of donation, loan, or otherwise, any available revenues for the purpose of financially assisting the industrial development authority to accomplish the purposes of this chapter.(2) Revenues made available under subdivision (b)(1) of this section may be used by the industrial development authority either alone or together with any other available funds and revenues for the accomplishment of the authorized purposes of this chapter.
(1) In addition, local governments may use and make available to an industrial development authority, by way of donation, loan, or otherwise, any available revenues for the purpose of financially assisting the industrial development authority to accomplish the purposes of this chapter.
(2) Revenues made available under subdivision (b)(1) of this section may be used by the industrial development authority either alone or together with any other available funds and revenues for the accomplishment of the authorized purposes of this chapter.