Arkansas Code Title 14, Subtitle 20, Chapter 334 - Public Transit Systems Generally

• § 14-334-101 - Title.
  This chapter may be cited as the "Public Transit System Act."
• § 14-334-102 - Definitions.
  As used in this chapter, unless the context otherwise requires: (1) "Authority" means the public corporation created pursuant to § 14-334-103; (2) "Capital costs"...
• § 14-334-103 - Creation of Authorities.
  (a) Any combination of two (2) or more entities as defined in § 14-334-102(4), or portions of those entities, are authorized to create and...
• § 14-334-104 - Authority As Public Corporation.
  (a) Each authority, when created, and the members thereof, shall constitute a public corporation and, as such, shall have perpetual succession, may contract and...
• § 14-334-105 - System Authorized.
  Each authority is authorized and empowered to acquire, own, equip, construct, lease, maintain, license, and regulate public and private public transportation and otherwise maintain...
• § 14-334-106 - Systems Declared Public Properties.
  (a) All transit systems formed under this chapter, and all the properties thereof, are declared to be public properties used exclusively for public purposes.(b)...
• § 14-334-107 - Board of Authority.
  (a) Subject to such limitations as may be contained in the agreement provided for in § 14-334-103, the management and control of each authority,...
• § 14-334-108 - Powers Generally.
  Each authority is given power and authority as follows: (1) To make and adopt all necessary bylaws, rules, and regulations for its organization and...
• § 14-334-109 - Issuance of Revenue Bonds.
  (a) (1) The authority is authorized and empowered to issue transit revenue bonds from time to time in principal amounts sufficient to pay capital...
• § 14-334-110 - Security for Bonds.
  (a) The principal of and interest on all bonds issued under the authority of this chapter may be secured by a pledge of, and...
• § 14-334-111 - Refunding Bond Issue.
  (a) (1) Transit revenue bonds may be issued for the purpose of refunding any bonds issued under the authority of this chapter. (2) Refunding...
• § 14-334-112 - Investment of Revenue Bonds.
  (a) Revenue bonds issued under the authority of this chapter are made securities in which all insurance companies, trust companies, banks, investment companies, executors,...
• § 14-334-113 - Bonds -- Tax Exemption.
  The principal of and interest on bonds issued under the authority of this chapter shall be exempt from all state, county, and municipal taxes....
• § 14-334-114 - Public and Private Contributions Permitted.
  (a) Contributions may be made to authorities from time to time by the various public and private entities and persons, firms, or corporations that...
• § 14-334-115 - Accounting for Receipts and Expenditures.
  (a) All funds received by an authority shall be deposited in such banks as the authority may direct and shall be withdrawn therefrom in...
• § 14-334-116 - Workers' Compensation for Employees.
  All employees of each authority who are eligible shall be deemed to be within the workers' compensation laws of Arkansas, and premiums on their...

Last modified: November 15, 2016