Arkansas Code Title 25, Chapter 20, Subchapter 4 - Arkansas Municipal Electric Utility Interlocal Cooperation Act of 2003

• § 25-20-401 - Title.
  This subchapter shall be known and may be cited as the "Arkansas Municipal Electric Utility Interlocal Cooperation Act of 2003".
• § 25-20-402 - Definitions.
  As used in this subchapter: (1) "Authority" means a municipal electric consolidated authority created pursuant to this subchapter; (2) "Electric project" means any: (A)...
• § 25-20-403 - Creation.
  (a) (1) The governing bodies of any two (2) or more municipal electric utilities entering into an interlocal agreement under the Interlocal Cooperation Act,...
• § 25-20-404 - Powers and Duties of Board of Commissioners.
  (a) All powers of an authority created under this subchapter shall be exercised by, or under the authority of, and the business and affairs...
• § 25-20-405 - Powers of Authority.
  Each authority created under this subchapter shall have the power to: (1) Have perpetual succession as a body politic and corporate; (2) Maintain offices...
• § 25-20-406 - Operation.
  (a) It is the purpose of this subchapter to allow municipal electric utilities to utilize the provisions of the Interlocal Cooperative Act, § 25-20-101...
• § 25-20-407 - Eminent Domain.
  (a) (1) Any authority may acquire any private property that it may deem necessary for its purposes by exercising the power of eminent domain...
• § 25-20-408 - Financing.
  (a) (1) An authority is authorized to use any available funds, revenues, and long-term or short-term debt to pay and provide for the costs...
• § 25-20-409 - Lien in Favor of Bond Holders.
  (a) The payment of the principal of bonds issued under this subchapter and the interest on the bonds may be secured by a lien...
• § 25-20-410 - Refunding Bonds.
  (a) (1) Bonds may be issued for the purpose of refunding any obligations issued under this subchapter. (2) The refunding bonds may be combined...
• § 25-20-411 - Security Deposit of Public Funds.
  Bonds issued under this subchapter shall be eligible to secure the deposit of public funds.
• § 25-20-412 - No Personal Liability.
  No commissioner or officer of the authority shall be liable personally for any reason arising from the issuance of bonds under this subchapter, unless...
• § 25-20-413 - Zoning Exemption.
  Any authority maintaining facilities in an area zoned subsequent to the construction of the facilities may add to, alter, expand, or change the facilities...
• § 25-20-414 - Tax-Exempt Status of Property Owners and Income.
  (a) Each authority created under this subchapter will be performing public functions and will be a public instrumentality of the participating municipal electric utilities.(b)...
• § 25-20-415 - Immunity.
  (a) This subchapter does not abrogate or in any other manner affect the immunity under existing law of the participating municipal electric utilities.(b) The...
• § 25-20-416 - No Public Utility Status.
  No authority created under this subchapter shall be a: (1) "Public utility" within the meaning of either §§ 14-200-101 -- 14-200-105 or §§ 23-1-101...
• § 25-20-417 - Annual Report and Audit.
  (a) During each calendar year, each authority shall make a public, written report to the governing bodies of the municipal electric utilities concerning its...
• § 25-20-418 - Provisions Supplemental and Controlling.
  This subchapter shall be deemed to provide an additional and alternative method for the doing of the things authorized in this subchapter and shall...
• § 25-20-419 - Construction.
  (a) (1) This subchapter shall be liberally construed to accomplish its intent and purposes and shall be the sole authority required for the accomplishment...
• § 25-20-420 - Use of Revenue.
  This subchapter does not modify the existing right of a governing body of a municipal electric utility to use available funds generated by its...
• § 25-20-421 - Effect of Other Laws.
  The provisions of any other law, except as expressly provided in this subchapter or in the other law by way of express reference to...
• § 25-20-422 - [Repealed.]
• § 25-20-423 - Termination or Dissolution.
  The governing bodies of the municipal electric utility forming an authority shall include in their interlocal agreement a provision allowing for: (1) The termination...
• § 25-20-424 - Control of Electric Transmission Facilities.
  (a) An authority created pursuant to this subchapter shall be authorized to and shall join or contract for the control of its electric transmission...
• § 25-20-425 - Sham Transactions Prohibited.
  (a) An authority created pursuant to this subchapter shall be prohibited from engaging in any sham transaction.(b) For the purposes of this section, a...

Last modified: November 15, 2016