Arkansas Code Title 14, Subtitle 8, Chapter 143 - Regional Intermodal Facilities Act

• § 14-143-101 - Title.
  This chapter may be cited as the "Regional Intermodal Facilities Act."
• § 14-143-102 - Definitions.
  As used in this chapter: (1) "Authority" means any authority created under the provisions of this chapter; (2) "Basic local exchange service" means the...
• § 14-143-103 - 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...
• § 14-143-104 - 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...
• § 14-143-105 - Appointment of Board.
  (a) Subject to such limitations as may be contained in the agreement provided for in § 14-143-103, the management and control of each authority...
• § 14-143-106 - 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,...
• § 14-143-107 - 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...
• § 14-143-108 - Facilities Authorized.
  Each authority is authorized and empowered to acquire, equip, construct, maintain, and operate an intermodal facility and appurtenant facilities or properties so located to...
• § 14-143-109 - Powers of Authority Generally.
  (a) Each authority is given power and authority as follows: (1) To make and adopt all necessary bylaws, rules, and regulations for its organization...
• § 14-143-110 - 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...
• § 14-143-111 - 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...
• § 14-143-112 - 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...
• § 14-143-113 - 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.
• § 14-143-114 - Issuance of Revenue Bonds -- Execution.
  (a) (1) The bonds shall be executed by the manual or facsimile signatures of the chairman and secretary of the authority. (2) In case...
• § 14-143-115 - 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...
• § 14-143-116 - 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...
• § 14-143-117 - 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,...
• § 14-143-118 - 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,...
• § 14-143-119 - 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...
• § 14-143-120 - Acquisition of Property.
  (a) Whenever it shall be deemed necessary by an authority, in connection with the exercise of its powers conferred in this chapter, to take...
• § 14-143-121 - 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...
• § 14-143-122 - Use of Surplus Funds.
  (a) If an authority should realize a surplus, whether from operating the intermodal facilities and other facilities or leasing it or them for operation,...
• § 14-143-123 - Public and Private Contributions.
  (a) Contributions may be made to authorities from time to time by the counties, municipalities, and the state and persons, firms, or corporations that...
• § 14-143-124 - 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...
• § 14-143-125 - County, Municipal, and State Authority.
  (a) Counties and municipalities are authorized and empowered to appoint members of the authorities and counties, municipalities, and the state are authorized and empowered...
• § 14-143-126 - Lease of Facilities.
  (a) Each authority may lease its intermodal facilities and all or any part of its appurtenances and facilities to any available lessee at such...
• § 14-143-127 - Sale of Assets.
  In the event the board shall so determine, any authority may make sale of all or any part of its properties and assets and...
• § 14-143-128 - 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...
• § 14-143-129 - Construction.
  This chapter shall be liberally construed to accomplish its intent and purposes and shall be the sole authority required for the accomplishment of its...

Last modified: November 15, 2016