14-184-119. Revenue-producing facilities.

Arkansas Code — all titles (historical 2020) · legal_authorities

14-184-119. Revenue-producing facilities.

14-184-119. Revenue-producing facilities. (a)(1) Nothing in this subchapter shall be deemed to limit or prohibit the operation of any facility which is a part of the plan of improvement as a revenue-producing facility. (2) Without limiting the generality of this provision, a central business improvement district may construct, operate, and maintain public restaurants, parking garages, and automobile serving facilities, places of amusement and entertainment, including facilities for the sale of food and refreshments and other similar public facilities, under circumstances which may provide revenues exceeding the cost of the operations of them. (b) The revenues may be: (1) Used to defray the costs of general operation and maintenance of the district; (2) Used to retire indebtedness of the district; or (3) Set aside and pledged in separate funds to secure other indebtedness of the district. (c) The board of commissioners may authorize the lease of any of the facilities, or a portion of them constructed under the plan, including the parking garages, to other persons for such rental, upon such terms, and for such time as the board shall deem desirable.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-184-119

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.