Title 4, Business and Commercial Law

(a) There is conferred upon a water authority the authority to take action and to do or cause to be done the things that shall be necessary or desirable to accomplish and implement the purposes and intent of this chapter according to the import of this chapter. (b) It is specific…

A water authority shall not have members.

All meetings and records of a water authority shall be subject to the Freedom of Information Act of 1967, § 25-19-101 et seq.

Each project by a water authority and all income from each project is determined and declared by the General Assembly to be public property used exclusively for a public purpose and shall be exempt from ad valorem taxation by all taxing authorities.

Water authorities organized under this chapter shall be exempt in any and all respects from the jurisdiction and control of the Arkansas Public Service Commission.

(a) A water authority formed pursuant to this chapter shall be operated without profit, but the rates, fees, rents, or other charges for water or wastewater collection, disposal, and treatment and other facilities, supplies, equipment, or services furnished by the water authority…

(a) (1) A water authority shall be dissolved upon the expiration of its term of existence as set forth in the water authority's articles if the term of existence is less than perpetual in nature.(2) Upon the dissolution, a notice shall be filed with both the Arkansas Natural Reso…

(1) Two (2) or more persons, which may include cities, counties, or other public bodies, may form a water authority authorized by this chapter by presenting to and filing with the Arkansas Natural Resources Commission the following:(1) Articles of constitution which shall state a…

(a) Whenever a qualified corporation desires to convert to and become reconstituted as a water authority under this chapter, the qualified corporation shall present to and file with the Arkansas Natural Resources Commission:(1) A resolution adopted by the governing body of the qu…

(a) (1) When articles of constitution or articles of conversion and reconstitution and other required documents have been filed with and accepted by the Arkansas Natural Resources Commission, as evidenced by the issuance by the commission of its certificate of existence in that f…

(a) (1) A water authority shall have a board of directors composed of at least five (5) members.(2) The specific number of initial directors and their terms of office shall be provided in its articles filed with the Arkansas Natural Resources Commission.(3) Changes to the number …

(a) The officers of a water authority shall consist of a president, vice president, secretary, treasurer, and such other officers as the board of directors shall deem necessary to accomplish the purposes for which a water authority is organized. (b) The offices of secretary and t…

(a) Notice may be communicated:(1) In person;(2) By telegraph, teletype, telecopier, facsimile, or other similar form of wire or wireless communication; or(3) By mail or private carrier. (1) In person; (2) By telegraph, teletype, telecopier, facsimile, or other similar form of wi…

(a) The persons forming the water authority or the initial board of directors shall adopt bylaws for the water authority and shall file a copy of the executed bylaws with the Arkansas Natural Resources Commission. (b) The bylaws may contain any provision for regulating and managi…

(a) Subject to subdivision (c)(2) and subsection (d) of this section, a water authority may amend its articles or bylaws at any time by a majority of the members of the board of directors at any regular or special meeting at which a quorum is present. (b) Any amendment to the art…

(a) Each water authority shall continuously maintain in this state:(1) A registered office with the same address, which must include a street address, as that of the registered agent; and(2) A registered agent, who is an individual residing in this state and whose office is ident…

(1) A water authority shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof:(1) To have succession in its designated name;(2) To sue and be sued and to prosecute and defend suits in any court having jurisdiction of the …

(a) A water authority is authorized at any time and from time to time to issue its interest-bearing bonds for the purpose of acquiring, constructing, improving, enlarging, completing, and equipping one (1) or more projects. (b) (1) (A) Prior to a water authority's proposed issuan…

(a) Bonds shall be executed by the manual or facsimile signature of the president of the water authority and by the manual or facsimile signature of the secretary of the water authority. (b) In case an officer whose signature appears on the bonds shall cease to be an officer befo…

(a) The principal of and interest on bonds may be secured by a pledge of the revenues of a water authority of that project financed by the water authority through its issuance of bonds or from any other source that the water authority may deem necessary and appropriate and may be…

(a) The principal of and interest on bonds issued under the authority of this subchapter shall be exempt from all state, county, and municipal taxes. (b) This exemption shall include income, inheritance, and estate taxes.

(a) The proceeds derived from all of the bonds other than refunding bonds may be used only to pay the costs of acquiring, constructing, improving, enlarging, and equipping the project with respect to which they were issued, as may be specified in the proceedings in which the bond…

(a) A water authority, at any time and from time to time, may issue refunding bonds for the purpose of refunding the principal of and interest on any bonds of the water authority theretofore issued under this subchapter or bonds originally issued by the qualified corporation and …