Arkansas Code Title 14, Subtitle 8, Chapter 137 - Public Facilities Boards

• § 14-137-101 - Title.
  This chapter may be referred to and cited as the "Public Facilities Boards Act."
• § 14-137-102 - Legislative Determination and Purpose.
  (a) It is determined by the General Assembly that adequate: (1) Facilities for health care; (2) Decent, safe, and sanitary residential housing; (3) Off-street...
• § 14-137-103 - Definitions.
  As used in this chapter, unless the context otherwise requires: (1) "Public facilities board" or "board" means any board organized pursuant to the provisions...
• § 14-137-104 - Provisions Supplemental and Controlling.
  (a) This chapter shall be deemed to provide an additional and alternative method for the doing of the things authorized thereby and shall be...
• § 14-137-105 - Construction.
  This chapter, being necessary for the welfare of the state and its inhabitants, shall be liberally construed to effect the purposes of it.
• § 14-137-106 - Creation -- Purposes.
  (a) (1) Any municipality or any county is authorized to create one (1) or more public facilities boards and to empower each board to...
• § 14-137-107 - Creating Ordinance -- Authority.
  (a) Each public facilities board shall be created by ordinance of the governing body. The ordinance: (1) Shall give the board a name which:...
• § 14-137-108 - Board Members.
  (a) (1) Each public facilities board shall consist of five (5) members unless there is an expansion of the board to provide services outside...
• § 14-137-109 - Officers -- Executive Director.
  (a) (1) The members of each public facilities board shall meet and organize by electing one (1) of their number as chairman, one (1)...
• § 14-137-110 - Meetings -- Records.
  (a) (1) Each public facilities board shall meet upon the call of its chairman, or a majority of its members, and at such times...
• § 14-137-111 - Powers Generally -- Bidding and Appraisal Requirements.
  (a) Each public facilities board is authorized and empowered: (1) To have perpetual succession as a body politic and corporate and to adopt bylaws...
• § 14-137-112 - Acquiring and Transferring Facilities.
  (a) Any municipality or county may acquire facilities for a public facilities project, or any portion thereof, including a project site, by gift, purchase,...
• § 14-137-113 - Postsecondary Education or Occupational Training Facilities.
  Any public facilities board organized under the provisions of this chapter is authorized and empowered to include in the public facilities projects granted to...
• § 14-137-114 - Tax Exemption of Properties.
  It is declared that each public facilities board created pursuant to this chapter will be performing public functions and will be a public instrumentality...
• § 14-137-115 - Use of Funds and Revenue -- Bonds.
  (a) Public facilities boards are authorized to use any available funds and revenues for the accomplishment of all or a portion of public facilities...
• § 14-137-116 - Issuance, Sale, and Execution of Bonds.
  (a) (1) The issuance of bonds shall be by resolution of the public facilities board. (2) As the resolution authorizing their issuance may provide,...
• § 14-137-117 - Refunding Bonds.
  (a) Bonds may be issued for the purpose of refunding any obligations issued under this chapter. Such refunding bonds may be combined with bonds...
• § 14-137-118 - Investment of Public Funds in Bonds.
  Any municipality, or any board, commission, or other authority duly established by ordinance of any municipality, or the boards of trustees, respectively, of the...
• § 14-137-119 - Bonds -- Tax Exemption.
  Bonds issued under this chapter and the income therefrom shall be exempt from all state, county, and municipal taxes. This exemption includes income and...
• § 14-137-120 - Obligations on Bonds.
  (a) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this chapter, that...
• § 14-137-121 - Mortgage Liens -- Enforcement.
  (a) The resolution or indenture referred to in § 14-137-116 may, or may not, impose a foreclosable mortgage lien upon or security interest in...
• § 14-137-122 - Receivership Upon Default on Bonds.
  (a) (1) In the event of a default in the payment of the principal of or interest on any bonds issued under the provisions...
• § 14-137-123 - Annual Reports.
  (a) Within the first ninety (90) days of each calendar year, each public facilities board shall make a written report to the governing body...

Last modified: November 15, 2016