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14-138-101. Legislative intent.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-138-101. Legislative intent.
It is the intent of the General Assembly by the passage of this chapter to authorize in each municipality in this state the incorporation of a public corporation as a political subdivision of the state for the purpose of providing buildings and facilities for the respective purposes of projects enumerated in subdivision (9) of § 14-138-102, and to invest the corporation with all powers that may be necessary to enable it to accomplish such purposes, including the power to lease its properties and to issue interest bearing revenue bonds.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-138-101
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:14-138-101
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: f5e8bc033d33c0036acd73f7e2757d50c03cefd770cd6d85ffc52fd71bf58626
Source location: content.xml paragraph 34676
Stored source content
14-138-101. Legislative intent.
It is the intent of the General Assembly by the passage of this chapter to authorize in each municipality in this state the incorporation of a public corporation as a political subdivision of the state for the purpose of providing buildings and facilities for the respective purposes of projects enumerated in subdivision (9) of § 14-138-102, and to invest the corporation with all powers that may be necessary to enable it to accomplish such purposes, including the power to lease its properties and to issue interest bearing revenue bonds.
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-138-102. Definitions.
As used in this chapter:
(1) “Board” means the board of directors of the corporation;
(2) “Corporation” means a corporation organized under this chapter;
(3) “County” means that county in which the certificate of incorporation of the corporation shall be filed for record;
(4) “Governing body” means the council, board of directors, or other like body in which the legislative functions of the municipality are vested by law;
(5) “Indenture” means a mortgage, an indenture of mortgage, deed of trust, trust agreement, or trust indenture executed by the corporation as security for any bonds;
(6)(A) “Lessee” means the municipality, the county, or other public body leasing a project from the corporation.
(B) “Other public body” as used in this subdivision (6) means any department, agency, subdivision, or instrumentality of the State of Arkansas or the United States, or of any city, county, or school district, a vocational-technical school, or a community junior college district;
(7) “Municipality” means that incorporated town, city of the second class, or city of the first class in the state that authorized the organization of the corporation; and
(8)(A) “Project” means equipment to be utilized within or near or one (1) or more buildings located or to be located within or near the municipality and designed for use or occupancy by a lessee, as defined in this section, for any one (1) of the following public purposes:
(i) Convention centers;
(ii) Airport facilities;
(iii) Transportation facilities;
(iv) Off-street parking facilities;
(v) Schools of any and all kinds supported by public funds including, but not limited to, day care, kindergarten, elementary, junior high, senior high, junior college, college, community college, g
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-138-102
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 14-138-102. This identifies an authority to review, not proof of applicability.