Title 27, Transportation

(a) All ferries operating in competition with state-owned toll bridges shall be subject to regulation as to ferry rates by the State Highway Commission and the rates to be charged shall be the same as the traffic rates prevailing upon the state-owned toll bridge with which the fe…

This chapter shall be liberally construed to effectuate the purposes thereof.

(1) As used in this chapter, unless the context otherwise requires:(1) “Commission” means the State Highway Commission of the State of Arkansas;(2) “Construction” and “constructing” when said with reference to ferries include the terms “purchase” and “purchasing”, respectively;(3…

(a) This chapter shall be deemed, without reference to any other statute, full authority for:(1) The construction or reconstruction of any bridge or ferry;(2) The acquisition, construction, and reconstruction of approaches thereto;(3) The operation and maintenance thereof; and(4)…

(a) Whenever the State Highway Commission shall determine on the basis of a traffic and engineering survey that the public convenience and necessity require the construction or reconstruction of a bridge or the construction of a ferry to facilitate interstate or intrastate traffi…

(a) The bonds shall be in such form and denomination, have such dates and maturities not exceeding forty (40) years from their date, bear interest payable at such times and rates, be payable at such places within or without the state, and contain such provisions as to registratio…

All bonds issued under the provisions of this chapter, maturing on and after ten (10) years from their date, in the discretion of the State Highway Commission, may contain a provision authorizing their redemption before maturity at the option of the commission in a manner as it m…

The State Highway Commission is authorized to adopt and use a seal in the execution and issuance of bonds authorized under the provisions of this chapter.

(a) The State Highway Commission is authorized to sell all the bonds of each issue issuable under this chapter at one (1) time, or it may from time to time sell installments of the bonds of each issue in principal amounts to be determined by the commission. The bonds of each issu…

This chapter shall not create any right of any character, and no right of any character shall arise under or pursuant to it unless and until the bonds authorized by this chapter have been issued and actually sold by the State Highway Commission.

The State Highway Commission is further authorized to invest portions of the proceeds from the sale of such bonds as in its judgment may not be required for immediate use in direct general obligations of the United States or of the State of Arkansas.

Temporary notes or bonds conforming to this chapter, exchangeable for definitive bonds, may be issued in the discretion of the State Highway Commission.

All bonds and notes issued under the provisions of this chapter shall be, and shall have, all the qualities and incidents of negotiable instruments under the negotiable instruments law of this state.

The bonds issued under this chapter shall be exempt from the state income taxes.

(1) At or before the issuance of any bonds, the State Highway Commission shall:(1) By resolution provide for a sinking fund for the payment of the principal of the bonds and the interest thereon and for the payment of the charges of banks or trust companies for making payment of …

(a) All revenues of the bridge or ferry not required under the provisions of this chapter to be paid into the sinking fund provided in the resolution authorizing the issuance of bonds shall be paid into an operation and maintenance fund and be used by the State Highway Commission…

(a) The State Highway Commission is authorized, and it shall be its duty, by resolution to establish, maintain, and collect just and equitable tolls, rates, fees, and other charges for the use of and the services rendered by the bridge or ferry. (b) The commission may change and …

(a) Bonds issued under the provisions of this chapter shall be payable solely from the revenues derived from the bridge or ferry. These bonds shall not in any event constitute an indebtedness of the State of Arkansas within the meaning of the constitutional provisions or limitati…

(a) The State Highway Commission may provide in its resolution authorizing the issuance of the bonds or in the trust indenture executed in connection therewith that additional bonds may thereafter be authorized and issued, at one (1) time or from time to time, when necessary for …

For the purpose of carrying into effect the objects and purposes of this chapter, the State Highway Commission shall have full power and authority to negotiate and enter into contracts with the United States and any of its agencies and with the state highway commission or other c…

All interstate bridges constructed or reconstructed under the terms of this chapter and all tolls, rents, fees, and other charges established for services rendered by the bridge or ferry shall be subject and conform to the terms and provisions of the act of the United States Cong…

For the purpose of acquiring any land, rights, easements, franchises, or other real or personal property deemed to be necessary or convenient for the construction and reconstruction of any bridge or ferry, or for the acquisition of the approaches thereto, the State Highway Commis…

(a) The Governor, by and with the advice and consent of the Senate, shall appoint three (3) commissioners to enter into a compact on behalf of the State of Arkansas with the State of Mississippi. (b) Any two (2) of the commissioners so appointed, together with the Attorney Genera…

COMPACT BETWEEN ARKANSAS AND MISSISSIPPI CREATING AN ARKANSAS-MISSISSIPPI BRIDGE COMMISSION COMPACT BETWEEN ARKANSAS AND MISSISSIPPI CREATING AN ARKANSAS-MISSISSIPPI BRIDGE COMMISSION ARTICLE I There is created an Arkansas-Mississippi Bridge Commission (hereinafter referred to as…

The compact when signed by the signatories of each state as herein provided shall become binding upon the State of Arkansas and shall be filed in the office of the Secretary of State of Arkansas.

The commission shall have power to apply to the Congress of the United States for its consent and approval of the compact; in the absence of consent of Congress and until the compact shall have been secured, the compact shall be binding upon the State of Arkansas in all respects …

ARKANSAS-MISSISSIPPI GREAT RIVER BRIDGE CONSTRUCTION COMPACT The Chairman of the State Highway Commission of the State of Arkansas, acting on behalf of this state, is authorized to execute a compact, to be known as the “Arkansas-Mississippi Great River Bridge Construction Compact…

(a) The five (5) members to represent the State of Arkansas on the Arkansas-Mississippi Great River Bridge Construction Compact shall be the five (5) members serving on the State Highway Commission established pursuant to the provisions of Arkansas Constitution, Amendment 42, and…

(a) There is granted to the members of the authority for the State of Arkansas, and to the compact administrator, all the powers provided for in the Arkansas-Mississippi Great River Bridge Construction Compact Authority. (b) All officers of the State of Arkansas are authorized an…

(a) When the Chairman of the State Highway Commission shall have executed the compact on behalf of this state and shall cause a verified copy thereof to be filed with the Secretary of State, and when the compact shall have been ratified by the State of Mississippi, then the compa…

The State Highway Commission is authorized to use moneys appropriated for the operation of the Arkansas Department of Transportation for payment of the State of Arkansas's pro rata share of the administrative costs of the compact authority, but shall have no authority to authoriz…

The authority shall have power to apply to the Congress of the United States for its consent and approval of the compact; but in the absence of such consent of Congress and until that consent shall have been secured, the compact shall be binding upon the State of Arkansas in all …

(1) As used in this subchapter, unless the context otherwise requires:(1) “Bonds”, “turnpike revenue bonds”, or “revenue bonds” means revenue bonds or notes of the State Highway Commission authorized under and issued under this subchapter;(2) “Commission” means the State Highway …

(a) The State Highway Commission is authorized and empowered to:(1) (A) Acquire by purchase or exercise of its powers of eminent domain sites and rights-of-way for, and construct, maintain, repair, and operate, turnpike projects at such locations as it shall determine in accordan…

(a) The State Highway Commission is authorized to fix, revise, charge, and collect tolls for the use of each turnpike project and the different parts or sections thereof and to contract with any person, partnership, association, corporation, or organization desiring the use of an…

(a) Revenues derived from any turnpike project that are used to secure revenue bonds shall be deposited into a bank or banks selected by the State Highway Commission. (b) The turnpike project revenues are declared to be cash funds, restricted in their use, and dedicated and to be…

(a) The State Highway Commission may issue turnpike revenue bonds from time to time in principal amounts sufficient to pay the costs of a turnpike project. (b) For a turnpike project:(1) There may be more than one (1) issue of bonds;(2) There may be one (1) issue sold and deliver…

(a) Turnpike revenue bonds shall be authorized by resolution of the State Highway Commission, the authorizing resolution. (b) The bonds may be registrable as to both principal and interest without coupons and may be made exchangeable for bonds of another denomination. (c) The bon…

(a) The authorizing resolution may provide for the execution by the State Highway Commission with a bank or trust company within or without the State of Arkansas of a trust indenture. (b) The trust indenture may control the priority between and among successive issues and series …

(a) Bonds issued under this subchapter may be sold at public or private sale, as determined by the State Highway Commission. (b) If sold at public sale, the bonds shall be sold on electronic or sealed bids, and notice of the sale shall be published one (1) time in a newspaper pub…

(a) Bonds shall be executed by the manual or facsimile signatures of the chair of the State Highway Commission and the secretary of the commission or otherwise as specified in the resolution authorizing the bonds. (b) In case any of the officers or the secretary whose signatures …

(a) It shall be plainly stated on the face of each bond that it has been issued under this subchapter, and the bonds issued shall be obligations only of the State Highway Commission and shall be special obligations, secured solely by pledges of turnpike project revenues or specif…

(a) (1) The principal of and interest on all bonds issued under this subchapter shall be secured by a pledge of, and shall be payable from turnpike project revenues.(2) The pledge of revenues to the payment of the principal of and interest on the bonds shall be valid and binding …

(a) Revenue bonds may be issued for the purpose of refunding any bonds issued under this subchapter. (b) Refunding bonds may be combined into a single issue with revenue bonds issued for the purpose of completing, reconstructing, or extending the turnpike project. (c) Refunding b…

(a) Revenue bonds issued under this subchapter are made securities in which all insurance companies, trust companies, banks, investment companies, executors, administrators, trustees, and other fiduciaries may properly and legally invest funds, including capital in their control …

(a) The principal of and interest on bonds issued under this subchapter shall be exempt from all state, county, and municipal taxes, and this exemption shall include income, inheritance, and estate taxes. (b) All turnpike projects and all the properties thereof are legislatively …