Title 14, Local Government

(a) Any municipality; any board, commission, or other authority duly established by ordinance of any municipality; the boards of trustees, respectively, of the firemen's relief and pension fund and the policemen's pension and relief fund of any municipality; or the board of trust…

(a) A central business improvement district created under this subchapter shall continue in existence in perpetuity unless dissolved by ordinance of the governing body to be enacted solely in the manner provided in this section:(1) A majority of the board of commissioners and a m…

(1) It is determined and declared by the General Assembly that:(1) The deterioration of the central business districts of urban centers of the state is a threat to the property tax and other revenue sources of such municipalities;(2) Funds for the improvement and modernization of…

As used in this subchapter, unless the context otherwise requires, “property” means real property and tangible and intangible personal property.

(a) This subchapter shall be construed liberally. (b) The enumeration of any object, purpose, power, manner, method, and thing shall not be deemed to exclude like or similar objects, purposes, powers, manners, methods, and things.

This subchapter shall be construed as cumulative of existing laws relating to the creation, operation, and existence of municipal improvement districts and shall not repeal any existing law unless the law is in direct conflict with this subchapter. It is the intent of this subcha…

Central business improvement districts created under the authority of § 14-184-101 et seq. are authorized to issue revenue bonds for the purpose of providing funds for the acquisition, construction, reconstruction, repair, replacement, renovation, or any other restoration or impr…

(a) Direct loans may be made by a central business improvement district to property owners, including lessees of the property owners, within the district on such terms and conditions, and with such security for repayment, as the commissioners shall deem necessary and desirable. (…

(a) For the purpose of providing funds to make loans including any reserve for contingencies deemed desirable, a central business improvement district may issue negotiable bonds or certificates of indebtedness bearing a rate of interest not to exceed the maximum rate allowed by l…

(a) The bonds of a central business improvement district shall be authorized by a resolution of the board of commissioners. (b) The authorizing resolution may contain any of the terms, covenants, and conditions that are deemed desirable by the board, including, without limitation…

(a) As the board shall determine, the bonds may:(1) Be coupon bonds, payable to bearer, or may be registrable as to principal only or as to principal and interest and may be exchangeable for bonds of another denomination;(2) Be in such form and denomination;(3) Have such date or …

(a) The authorizing resolution may provide for the execution by the district with a bank or trust company, within or without the State of Arkansas, of a trust indenture. (b) The trust indenture may contain any terms, covenants, and conditions that are deemed desirable by the boar…

(a) The bonds may be sold for such price including, without limitation sale at a discount, and at such rate of interest and in such manner as the board may determine by resolution. (b) The bonds or certificates of indebtedness may be sold to any bank, savings and loan association…

(a) (1) (A) The bonds shall be executed by the manual or facsimile signature of the chairman of the board and by the manual signature of the secretary of the board.(B) The coupons attached to the bonds shall be executed by the facsimile signature of the chairman.(2) In case any o…

(a) The bonds may be sold with the privilege of conversion into an issue bearing other rate or rates of interest, upon the terms that the board receive no less and pay no more than it would receive and pay if the bonds were not converted. (b) The conversion shall be subject to th…

(a) (1) Bonds may be issued for the purpose of refunding any bonds issued under this subchapter.(2) (A) Refunding bonds may be either sold or delivered in exchange for the bonds being refunded.(B) If sold, the proceeds may be either applied to the payment of the bonds being refun…

(a) (1) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this subchapter, that the bonds shall be obligations only of the central business improvement district, and that in no event shall they constitute any indebtedness for whic…

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

(a) Any municipality; any board, commission, or other authority duly established by ordinance of any municipality; the boards of trustees, respectively, of the firemen's relief and pension fund and the policemen's pension and relief fund of any municipality; the board of trustees…

This chapter shall be referred to and may be cited as the “Metropolitan Port Authority Act of 1961.”

(1) As used in this chapter, unless the context otherwise requires:(1) “County” means a county of this state or, where a county is divided into two (2) districts, the term “county” means the entire county or either district of the county;(2) “County court” means the quorum court …

(a) This chapter is intended and shall be construed to supplement all constitutional provisions and acts of the General Assembly designed to accomplish, in whole or in part, the purposes of this chapter. (b) When applicable, this chapter may be used as an alternative notwithstand…

(a) Two (2) or more counties or two (2) or more municipalities, whether or not in the same county, or one (1) or more counties and one (1) or more municipalities, whether or not in the same county, within or near which there is a navigable river or waterway are authorized and emp…

(a) The governing body of each municipality and the county court of each county desiring to organize a port authority under this chapter shall declare its intention to do so by ordinance of the governing body of the municipality and by order of the county court of the county. (b)…

(a) Immediately after the filing of the order of the circuit court, the governing body of each petitioning municipality and the county court of each petitioning county shall appoint the persons to be the members of the board of the authority established by the order of the circui…

A certified copy of each ordinance and a certified copy of each county court order appointing persons to membership on the board shall be filed with the secretary of the board of the authority and shall be and remain part of the permanent records of the authority.

(a) Port authorities are authorized 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…

(1) In order to enable authorities to carry out the purposes of this chapter, the authorities 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 seal;(2) Have the power to rent, acquire, improve, develop…

With regard to warehouse facilities used for commercial warehousing purposes mentioned § 14-185-108(a)(1)-(4), (6), (7), and (9)-(11), § 14-185-108(b), and § 14-185-109(2), (3), (12), and (13), the authority, prior to entering into a new lease of existing warehouse facilities or …

(a) For the acquiring of rights-of-way and property necessary or desirable for the carrying out of their powers and for the accomplishment of the purposes of this chapter, port authorities shall have the right and power to acquire property by gift, by purchase, by negotiation, or…

Nothing in this chapter shall be construed to authorize any port authority to acquire by condemnation, or to issue bonds and use the proceeds of them to acquire by condemnation, a utility plant or utility distribution system, or any part of them, owned or operated by a regulated …

(a) (1) Port authorities shall have the power and are authorized to acquire, own, lease, locate, install, construct, equip, hold, maintain, control, and operate at harbors, ports, and river-rail and barge terminals or lines of terminal railroads with necessary sidings, turnouts, …

(a) (1) Port authorities are authorized to assign, transfer, lease, convey, grant, or donate to the federal government, or to the appropriate agency of it, any or all of their property, for use by the federal government, or the appropriate agency of it, for any purpose included w…

(a) (1) It is determined that the ports, harbors, river-rail and barge terminals, and the facilities authorized to be acquired, constructed, reconstructed, extended, equipped, or improved by port authorities under this chapter are necessary for and useful in the securing and deve…

(a) Port authorities are authorized and empowered to enter into the necessary contracts for the borrowing of funds, pursuant to the provisions of this chapter, which they may determine will be required to carry out the powers of port authorities and to carry out the purposes of t…

This chapter shall be the sole authority required for the issuance of bonds under it and for the exercise of the powers of authorities established under this chapter. It shall not be necessary for the municipalities and counties represented on the boards of directors of authoriti…

All covenants and agreements entered into and made by an authority shall be binding in all respects on the authority and the members of it and their successors from time to time in accordance with the terms of such covenants and agreements. All of those provisions shall be enforc…

Bonds may be issued from time to time for the acquisition, construction, and equipment of facilities and the reconstructing, extending, improving, equipping, or reequipping of facilities.

Each bond issue shall be in the principal amount sufficient, together with other available funds, for the acquisition, construction, and equipment of facilities or the reconstruction, extension, improvement, equipment, or reequipment of facilities, all costs of issuing bonds, the…

The authority issuing the bonds, by the resolution or indenture, among other things, may control the subsequent issuance of additional bonds and the priority, between and among issues, of the pledge of revenues and of the mortgage lien, provide for the use of surplus pledged reve…

(a) Each issue of bonds shall be authorized by resolution of the authority issuing the bonds. (b) Priority, between and among successive issues, of the pledge of revenues and mortgage lien may be controlled by the resolutions authorizing the issuance of bonds under this chapter.

(a) As the authorizing resolution may provide, the bonds may:(1) Be coupon bonds payable to bearer;(2) Be registered as to principal or as to principal and interest, or be coupon bonds subject to registration as to principal or as to principal and interest;(3) Be in one (1) or mo…

(a) Each resolution of an authority authorizing the issuance of bonds may provide for the execution of an indenture defining the rights of the holders and registered owners of the bonds and providing for the appointment of a trustee for the holders and registered owners of the bo…

It shall be plainly stated on the face of each bond issued under this chapter that it has been issued under the provisions of this chapter.

Bonds issued under this chapter may be sold for such price including, without limitation, sale at a discount and in such manner as the authority issuing the bonds may determine by resolution.

(a) (1) Bonds issued under this chapter may be executed by the facsimile signature of the chairman of the authority issuing the bonds and by the manual signature of the secretary of the authority issuing the bonds and sealed with the seal of the authority issuing the bonds.(2) Th…