Arkansas Code Title 14, Subtitle 22, Chapter 362, Subchapter 1 - General Provisions

• § 14-362-101 - Title.
  This chapter may be cited as the "Regional Airport Act."
• § 14-362-102 - Definitions.
  As used in this chapter, unless the context otherwise requires: (1) "Authority" means any authority created under the provisions of this chapter; (2) "Construct"...
• § 14-362-103 - Establishment of Authorities.
  (a) (1) Any two (2) or more municipalities, any two (2) or more contiguous counties, or any one (1) or more municipalities together with...
• § 14-362-104 - 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...
• § 14-362-105 - Appointment of Board.
  (a) Subject to such limitations as may be contained in the agreement provided for in § 14-362-103, the management and control of each authority...
• § 14-362-106 - Vacancy on Board.
  (a) If any member of an authority dies, resigns, is removed, or for any other reason ceases to be a member of the authority,...
• § 14-362-107 - Compensation Prohibited -- Reimbursement of Expenses.
  (a) No member of the board of an authority shall receive any compensation, whether in form of salary, per diem allowance, or otherwise, for...
• § 14-362-108 - Facilities Authorized.
  Each authority is authorized and empowered to acquire, equip, construct, maintain, and operate a regional airport or landing field and appurtenant facilities so located...
• § 14-362-109 - Powers of Authority 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...
• § 14-362-110 - Issuance of Revenue Bonds -- Authorization.
  (a) Authorities are authorized to use any available revenues for the accomplishment of the purposes and the implementation of the powers authorized by this...
• § 14-362-111 - Issuance of Revenue Bonds -- Resolution of Authority -- Nature of Bonds.
  (a) The issuance of revenue bonds shall be by resolution of the authority.(b) The bonds of each issue may: (1) Be coupon bonds payable...
• § 14-362-112 - Issuance of Revenue Bonds -- Indenture.
  (a) The resolution authorizing the bonds may provide for the execution by the authority of an indenture which defines the rights of the holders...
• § 14-362-113 - Issuance of Revenue Bonds -- Price and Manner Sold.
  The bonds may be sold for such price, including sale at a discount, and in such manner as the authority may determine by resolution.
• § 14-362-114 - Issuance of Revenue Bonds -- Execution.
  (a) (1) The bonds shall be executed by the manual or facsimile signatures of the chair and secretary of the authority. (2) In case...
• § 14-362-115 - Issuance of Revenue Bonds -- Obligation of Authority.
  (a) The revenue bonds issued under this chapter shall be obligations only of the authority and shall not be general obligations of any county,...
• § 14-362-116 - Issuance of Revenue Bonds -- Refunding Bonds.
  (a) (1) Revenue bonds may be issued under this chapter for the purpose of refunding any obligations issued under this chapter. (2) The refunding...
• § 14-362-117 - Issuance of Revenue Bonds -- Mortgage Lien.
  (a) The resolution or indenture securing the bonds may impose a forecloseable mortgage lien upon or security interest in the facilities of the authority,...
• § 14-362-118 - Issuance of Revenue Bonds -- Default.
  (a) (1) In the event of a default in the payment of the principal of or interest on any bonds issued under this chapter...
• § 14-362-119 - Agreements to Obtain Funds.
  Each authority may, in connection with obtaining funds for its purposes, enter into any agreement with any person, firm, or corporation including the federal...
• § 14-362-120 - Acquisition of Property.
  Whenever it shall be deemed necessary by an authority, in connection with the exercise of its powers conferred in this chapter, to take or...
• § 14-362-121 - Exemption From Taxation.
  (a) Each authority shall be exempt from the payment of any taxes or fees to the state, or any subdivision thereof, or to any...
• § 14-362-122 - Use of Surplus Funds.
  (a) If an authority should realize a surplus, whether from operating the airport or leasing it for operation, over and above the amount required...
• § 14-362-123 - Public and Private Contributions.
  (a) Contributions may be made to authorities from time to time by the counties and municipalities and persons, firms, or corporations that shall desire...
• § 14-362-124 - Accounts and Reports.
  (a) (1) All funds received by an authority shall be deposited in such banks as the authority may direct and shall be withdrawn therefrom...
• § 14-362-125 - County, Municipal, and State Authority.
  (a) Counties, municipalities, and the state are authorized and empowered to appoint members of the authorities and to contribute to the cost of acquiring,...
• § 14-362-126 - Lease of Facilities.
  (a) Each authority may lease its airport and all or any part of its appurtenances and facilities to any available lessee at such rental...
• § 14-362-127 - Sale of Assets.
  (a) In the event the board shall so determine, any authority may sell all or any part of its properties and assets and distribute...
• § 14-362-128 - Workers' Compensation.
  All employees of each authority who are eligible shall be deemed to be within the workers' compensation laws of Arkansas, and premiums on their...
• § 14-362-129 - Existing Authorities.
  Any existing regional airport authority, de facto or de jure, previously created, or attempted to have been created, under the acts of Arkansas, or...
• § 14-362-130 - Authorized Investors.
  Any municipality, or any board, commission, or other authority duly established by ordinance of any municipality, or the boards of trustees, respectively, of the...
• § 14-362-131 - Construction.
  (a) This chapter shall be liberally construed to accomplish its intent and purposes and shall be the sole authority required for the accomplishment of...
• § 14-362-132 - Exemption From Annexation and Municipal Regulation.
  (a) For purposes of this section, "authority" means an authority created with members from two (2) or more counties and three (3) or more...

Last modified: November 15, 2016