Arkansas Code Title 14, Subtitle 11, Chapter 188 - Rural Development Authorities

• § 14-188-101 - Title.
  This chapter may be referred to as the "Rural Development Authority Act."
• § 14-188-102 - Legislative Declarations.
  It is declared that: (1) Many rural areas of Arkansas suffer from chronic unemployment and underemployment, lack of economic development, and patterns of land...
• § 14-188-103 - Definitions.
  As used in this chapter, unless the context otherwise requires: (1) "Rural development authority", "development authority", or "authority" means any of the public corporations...
• § 14-188-104 - Creation of Authorities.
  (a) (1) In each county of the state there is created a public body corporate and politic to be known as the rural development...
• § 14-188-105 - Appointment of Commissioners, Etc.
  (a) (1) When the county court adopts a resolution as prescribed in § 14-188-104, the court shall appoint five (5) persons as commissioners of...
• § 14-188-106 - Rules and Regulations.
  (a) At the first meeting, a rural development authority shall adopt rules and regulations which are to be filed with the county clerk.(b) Amendments...
• § 14-188-107 - Interest of Commissioners or Employees Prohibited.
  (a) (1) No commissioner or employee of a rural development authority shall directly or indirectly acquire any interest in any development project or in...
• § 14-188-108 - Removal of Commissioner.
  (a) (1) For insufficiency or neglect of duty or misconduct in office, a commissioner of a rural development authority may be removed by the...
• § 14-188-109 - Powers of Authority Generally.
  A rural development authority shall constitute a public body corporate and politic, exercising public and essential government functions and having all the powers necessary...
• § 14-188-110 - Issuance of Bonds and Other Evidence of Indebtedness.
  (a) (1) (A) A rural development authority shall have power to issue bonds or other evidence of indebtedness from time to time, in its...
• § 14-188-111 - Powers in Connection With Issuance of Bonds, Etc.
  In connection with the issuance of bonds or with the incurrence of other indebtedness, and in order to secure the payment of bonds or...
• § 14-188-112 - Form and Sale of Bonds, Etc.
  (a) (1) Bonds or other evidence of indebtedness of a rural development authority shall be authorized by a resolution upon a vote of at...
• § 14-188-113 - Validation of Indebtedness.
  All outstanding loans and their evidences of indebtedness obtained and processed under the provisions of this chapter are validated, ratified, and confirmed. These evidences...
• § 14-188-114 - Remedies of Obligees.
  An obligee of a rural development authority shall have the right, in addition to all other rights which may be conferred upon the obligee,...
• § 14-188-115 - Additional Remedies Conferrable on Obligees.
  A rural development authority shall have power, by its resolution, trust indenture, mortgage, lease, or other contract, to confer upon any obligee holding or...
• § 14-188-116 - Exemption From Lien and Execution Sale.
  (a) All real property of a rural development authority shall be exempt from levy and sale by virtue of an execution. No execution or...
• § 14-188-117 - Exemption From Taxes or Assessments.
  (a) (1) The property of a rural development authority is declared to be public property used for essential and exclusively public and governmental purposes...
• § 14-188-118 - Security for Deposits.
  (a) A rural development authority may, by resolution, provide that all moneys deposited by it shall be secured by: (1) Obligations of the United...
• § 14-188-119 - Cooperation by Authorities.
  Any two (2) or more rural development authorities, created by or pursuant to the provisions of this chapter, may join or cooperate with one...
• § 14-188-120 - Aid and Cooperation by State Public Bodies.
  For the purpose of aiding and cooperating in the planning, undertaking, construction, or operation of rural development projects, including development projects of the federal...
• § 14-188-121 - Federal Aid and Assistance.
  (a) In addition to the powers conferred upon a rural development authority by other provisions of this chapter, an authority is empowered to borrow...
• § 14-188-122 - Agreements With Federal Government.
  (a) In any contract or amendatory or superseding contract for a loan entered into between any rural development authority and the federal government, or...

Last modified: November 15, 2016