Title 14, Local Government

(a) The authority may be created to accomplish the following general purposes:(1) To establish, acquire, develop, improve, or maintain harbors, ports, river-rail terminals, barge terminals, parks for industrial and commercial operations, and related improvements and facilities in…

Through the municipal port authority created under § 14-186-203, any city or incorporated town may engage in promoting, developing, acquiring, constructing, equipping, maintaining, and operating harbors, ports, river-rail terminals, barge terminals, parks for industrial and comme…

The jurisdiction of a municipal port authority in any harbors, ports, or river-rail and barge terminals within the state shall extend over the waters and shores of the harbors or ports.

(1) In order to enable any city or incorporated town to carry out the purposes of this subchapter, a municipal port authority shall:(1) Have the powers of a body corporate, including the power to sue and be sued, to make contracts, and to adopt and use a common seal;(2) Be author…

(a) Before entering into a new lease of existing warehouse facilities with a third-party lessor or a lease of new warehouse facilities with a third-party lessor under this subchapter, an authority shall:(1) Publicly solicit proposals for the leasing of the warehouse facilities on…

(a) A municipal port authority shall have the power and authority to acquire, own, lease, locate, install, construct, equip, hold, maintain, control, and operate at harbors, ports, and river-rail and barge terminals a line of terminal railroads with necessary sidings, turn outs, …

(a) For the acquiring of rights-of-way and property necessary for the construction of terminal railroads and structures, including railroad crossings, airports, seaplane bases, naval bases, wharves, piers, ships, docks, quays, elevators, compresses, refrigeration storage plants, …

The property of a municipal port authority shall not be subject to any taxes or assessments on it.

(a) A municipal port authority may exchange any property acquired under the authority of this subchapter for other property usable in carrying out the power conferred by this subchapter. (b) The authority may also remove from lands needed for its purposes, and reconstruct on othe…

(a) A municipal port authority is authorized to assign, transfer, lease, convey, grant, or donate to the federal government, or to the appropriate agency or department of it, any, or all, of the property of the authority for any use by the federal government for any purpose inclu…

(a) All municipal port authority funds shall be deposited in banks to be designated by the authority. (b) No funds of the authority shall be disbursed except for a purpose authorized by this subchapter and only when the account or expenditure for which it is to be given in paymen…

(a) At least once in each year, a municipal port authority shall publish a report. It shall be published one (1) time in some newspaper published in the city or incorporated town where the authority is located. If no paper exists in the city or town creating such authority, the r…

(a) This subchapter, without reference to any other statute, shall be deemed full authority for the construction, acquisition, improvement, equipment, maintenance, operation, and repair of barge terminals together with tenders and barges, wharves, docks, landing places, piers, an…

(1) As used in this subchapter, unless the context otherwise requires:(1) “Municipality” means a city of the first class, a city of the second class, or an incorporated town;(2) “Governing body” means the council, board of directors, or city commission of any municipality;(3) “Eq…

Any municipality owning a port, harbor, or related facilities is authorized and empowered to acquire, construct, equip, operate, sell, lease, contract concerning, and otherwise deal in and with lands, buildings, structures, and other improvements and facilities, of whatever natur…

To acquire property, wherever located, in furtherance of the purposes of this subchapter, any municipality shall have the power of eminent domain as is provided in §§ 18-15-301 — 18-15-303 and any statutes supplemental thereto.

(a) Municipalities are authorized to use any available revenues for the accomplishment of the purposes and the implementation of the powers authorized by this subchapter, including the proceeds of revenue bonds issued from time to time pursuant to the provisions of this subchapte…

(a) (1) The issuance of revenue bonds shall be by ordinance of the municipality.(2) As the ordinance authorizing their issuance may provide, the bonds of each issue may:(A) Be coupon bonds payable to bearer or may be made registrable as to principal only or as to both principal a…

(a) Revenue bonds may be sold for such price including sale at a discount and in such manner as the municipality may determine by ordinance. (b) (1) (A) The bonds shall be executed by the manual or facsimile signature of the mayor and the manual signature of the clerk or recorder…

(a) (1) Revenue bonds issued under this subchapter shall not be general obligations of the municipality but shall be special obligations. In no event shall the revenue bonds constitute an indebtedness of the municipality within the meaning of any constitutional or statutory limit…

(a) (1) Revenue bonds may be issued under this subchapter for the purpose of refunding any obligations issued under this subchapter.(2) Refunding bonds may be combined with bonds issued under this subchapter into a single issue. (1) Revenue bonds may be issued under this subchapt…

(a) (1) The ordinance authorizing revenue bonds may provide for the execution by the municipality of an indenture which defines the rights of the holders and registered owners of the bonds and provides for the appointment of a trustee for the holders and registered owners of the …

(a) (1) (A) The ordinance or indenture securing revenue bonds may impose a foreclosable mortgage lien, security interest, or both, on the port authority facilities, or any portion thereof.(B) The extent of the mortgage lien on or security interest may be controlled by the ordinan…

(a) Bonds issued under the provisions of this subchapter shall be exempt from all state, county, and municipal taxes. (b) This exemption includes income, estate, and inheritance taxes.

(a) Without reference to any other statute, this subchapter shall be deemed full authority for the construction, acquisition, improvement, equipment, maintenance, operation, and repair of any port provided for in this subchapter and for the issuance and sale of the bonds as autho…

(1) As used in this subchapter:(1) “Legislative body” means the council of municipalities having the mayor-council form of government and the commission, or other governing body, of municipalities having a commission or other form of government;(2) “Mayor” means the mayor of muni…

This subchapter, being necessary for the public health, safety, and welfare, shall be liberally construed to effectuate the purposes of it.

Any two (2) or more municipalities, any two (2) or more counties, or any one (1) municipality or more together with any one (1) county or more in the State of Arkansas, or in an adjoining state where a navigable river forms the boundary between the states and the county or munici…

(a) The ordinances or orders authorizing the issuance of the revenue bonds may contain provisions for the acceleration of the maturities of the unmatured bonds in the event of default in the payment of any principal or interest maturing under the bond issue, or part failure to me…

The municipalities or counties desiring to avail themselves of the benefit of this subchapter and to join in the issuance of bonds as provided in this subchapter shall have the power to lease the port to an operating person, company, or corporation in such manner and upon such te…

For the purpose of acquiring a new port under the provisions of this subchapter or for the purpose of acquiring any property necessary for it, municipalities and counties shall have the right of eminent domain as is provided in §§ 18-15-301 — 18-15-303 and any acts amendatory and…

(a) No obligation shall, nor may, be incurred by municipalities or counties in the construction or acquisition of any port contemplated in this subchapter, or in the condemnation of property in connection with it, except such as shall be payable solely from the funds to be acquir…

(a) (1) Whenever it shall be determined by the legislative body of any municipality or by the county court of any county to join with another municipality or other municipalities or another county or other counties, to construct, purchase, establish, equip, and operate a port und…

(a) After the passage of any ordinance pursuant to § 14-186-409, it shall be published one (1) time in a newspaper published in the municipality. If there is no newspaper so published, then the ordinance shall be published in a newspaper which has a bona fide general circulation …

(a) Bonds provided for in this subchapter shall be issued in such amounts as may be necessary to provide sufficient funds to pay all costs of construction or acquisition, including engineering, legal, and other expenses, together with interest to a date not exceeding five (5) yea…

(a) Bonds issued under the provisions of this subchapter shall be payable solely from the revenues derived from the port for the construction or acquisition of which the bonds were issued, and the bonds shall not in any event constitute an indebtedness of any such municipality or…

(a) (1) There shall be a statutory mortgage lien upon the port constructed or acquired from the proceeds of bonds authorized to be issued under the provisions of this subchapter. This lien shall exist in favor of the holders of the bonds and each of them and to and in favor of th…

(a) Rates fixed precedent to the issuance of bonds shall not be reduced until all of the bonds shall have been fully paid and, whenever necessary, may be increased in amounts sufficient to provide for the payment of the bonds, both principal and interest, and to provide proper fu…

(a) (1) The municipalities or counties joined together to issue revenue bonds under the provisions of this subchapter shall designate a bank, which shall be a member of the Federal Deposit Insurance Corporation, to serve as a common depository to receive and hold on deposit and f…

(a) (1) Any specified portion of the proceeds of an issue of bonds authorized under the provisions of this subchapter may be allocated to any particular project authorized under this subchapter, or to any construction, as distinguished from the purchase of a port constructed, or …

Bonds issued under the provisions of this subchapter shall be exempt from all state, county, and municipal taxes, including income and inheritance taxes.