reglab/housing_qa huggingface dataset:
AR Code § 14-362-103 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 22 - Airport Facilities Generally|Chapter 362 - Regional Airports|Subchapter 1 - General Provisions|§ 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 any one (1) or more contiguous counties, are authorized to create and establish an authority as prescribed in this chapter for the purpose of acquiring, equipping, constructing, maintaining, and operating regional airports.  (2) No county or municipality shall participate in such authority unless and until its governing body so provides by ordinance and enters into an agreement with the other participating governmental units establishing the terms and conditions for the operation of the authority within the limitations provided in this chapter and such other laws of the State of Arkansas as may be applicable.    (b) The state may join in the creation and establishment of any authority if the regional airport to be acquired, equipped, constructed, maintained, or operated is a major airport facility. The state shall not participate in any authority unless and until the Governor so provides by proclamation and enters into the agreement with the other participating governmental units. The agreement with the other participating governmental units shall be executed by the Governor.  (c) To the extent that it is consistent with this chapter, the agreement shall specify the information provided for in § 25-20-104(c).  (d) The agreement shall be filed with the Secretary of State.
AR Code § 14-362-104 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 22 - Airport Facilities Generally|Chapter 362 - Regional Airports|Subchapter 1 - General Provisions|§ 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 be contracted with, sue and be sued, and have and use a common seal.  (b) The exercise of the powers and performance of duties provided for in this chapter by each authority and its officers, agents, and employees are declared to be public and governmental functions, exercised for a public purpose and matters of public necessity, conferring upon each authority governmental immunity from suit in tort.
AR Code § 14-362-105 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 22 - Airport Facilities Generally|Chapter 362 - Regional Airports|Subchapter 1 - General Provisions|§ 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 and its property, operations, business, and affairs shall be lodged in a board of not less than six (6) nor more than twenty-four (24) persons who shall be appointed for terms of six (6) years each as hereinafter provided.  (b) The number of members that each of the participating governmental units is entitled to appoint to the board shall be set forth in the agreement provided for in § 14-362-103. However, each of the participating governmental units shall be entitled to appoint at least one (1) member to the board and, if the state is a participant in the authority, the state shall be entitled to appoint a majority of the members of the board. Appointments shall be made by the mayor of each participating municipality, the county judge of each participating county, and the Governor.  (c) The members of the authority shall have staggered terms, as provided in the agreement establishing the authority, as follows: One-third (1/3) of the members for six-year terms; one-third (1/3) of the members for four-year terms; and one-third (1/3) of the members for two-year terms. Thereafter, all appointments shall be for six-year terms.  (d) All members of the board appointed by the participating municipalities and counties shall be bona fide residents and qualified electors of the county or municipality which the members represent. All members of the board appointed by the state shall be bona fide residents of the state.
AR Code § 14-362-106 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 22 - Airport Facilities Generally|Chapter 362 - Regional Airports|Subchapter 1 - General Provisions|§ 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, the mayor, the county judge, or the Governor, as appropriate to the governmental unit which the member represented, shall appoint another person to fill the unexpired portion of the term of the member.  (b) A member of the authority once qualified shall not be removed during his or her appointment except for cause by the mayor, the county judge, or the Governor, as appropriate, which appointed him or her, or upon such other conditions as shall be set forth in the agreement establishing the authority.
AR Code § 14-362-107 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 22 - Airport Facilities Generally|Chapter 362 - Regional Airports|Subchapter 1 - General Provisions|§ 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 or in connection with his services as a member.  (b) Each member shall, however, be entitled to reimbursement by the authority for any necessary expenditures in connection with the performance of his general duties as a member.
AR Code § 14-362-108 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 22 - Airport Facilities Generally|Chapter 362 - Regional Airports|Subchapter 1 - General Provisions|§ 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 to best serve the region in which they are located. Each authority in which the state is a participant is further authorized and empowered to acquire, equip, construct, maintain, and operate industrial, warehouse, distribution, and related types of facilities, including education, training, office and support facilities, located at a major airport facility for the purpose of securing and developing industry within the state.
AR Code § 14-362-110 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 22 - Airport Facilities Generally|Chapter 362 - Regional Airports|Subchapter 1 - General Provisions|§ 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 chapter, including the proceeds of revenue bonds issued from time to time pursuant to the provisions of this chapter, either alone or together with other available funds and revenues.  (b) The amount of each issue of bonds issued may be sufficient to pay:  (1) The costs of accomplishing the purposes for which it is being issued;  (2) The cost of issuing the bonds;  (3) The amount necessary for a reserve, if it is determined to be desirable in favorably marketing the bonds;  (4) The amount, if any, necessary to provide for debt service on the bonds until revenues for the payment thereof are available; and  (5) Any other costs and expenditures of whatever nature incidental to the accomplishment of the specified purposes.
AR Code § 14-362-111 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 22 - Airport Facilities Generally|Chapter 362 - Regional Airports|Subchapter 1 - General Provisions|§ 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 to bearer or may be registrable as to principal only or as to both principal and interest;  (2) Be in such form and denominations;  (3) Be made payable at such places within or without the state;  (4) Be issued in one (1) or more series;  (5) Bear such date or dates;  (6) Mature at such time or times, not exceeding forty (40) years from their respective dates;  (7) Bear interest at such rate or rates;  (8) Be payable in such medium of payment;  (9) Be subject to such terms of redemption; and  (10) Contain such terms, covenants, and conditions as the resolution authorizing their issuance may provide including, without limitation, those pertaining to:  (A) The custody and application of the proceeds of the bonds;  (B) The collection and disposition of revenues;  (C) The maintenance and investment of various funds and reserves;  (D) The imposition and maintenance of rates and charges for the use of airport facilities;  (E) The nature and extent of the security;  (F) The rights, duties, and obligations of the authority and the trustee for the holders and registered owners of the bonds; and  (G) The rights of the holders and registered owners of the bonds.      (c)  (1) There may be successive bond issues for the purpose of financing the same project. There may also be successive bond issues for financing the cost of reconstructing, replacing, constructing additions to, extending, improving, and equipping projects already in existence, whether or not originally financed by bonds issued under this chapter, with each successive issue to be authorized as provided by this chapter.  (2) Priority between and among issues and successive issues as to security, the pledge of revenues and lien on and security interest in the land, buildings, and facilities involved, may be controlled by the resolutions authorizing the issuance of bonds under this chapter.    (d) Subject to the provisions of this section and §§ 14-362-110 and 14-362-112 — 14-362-118, pertaining to registration, the bonds shall have all the qualities of negotiable instruments under the laws of the State of Arkansas.
AR Code § 14-362-112 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 22 - Airport Facilities Generally|Chapter 362 - Regional Airports|Subchapter 1 - General Provisions|§ 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 and registered owners of the bonds and provides for the appointment of a trustee for the holders and registered owners of the bonds.  (b) Indenture may control the priority between successive issues and may contain any other terms, covenants, and conditions that are deemed desirable, including, without limitation, those pertaining to:  (1) The custody and application of the proceeds of the bonds;  (2) The collection and disposition of revenues;  (3) The maintenance of various funds and reserves;  (4) The imposition and maintenance of rates and charges for the use of airport facilities;  (5) The nature and extent of the security;  (6) The rights, duties, and obligations of the authority and the trustee; and  (7) The rights of the holders and registered owners of the bonds.
AR Code § 14-362-113 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 22 - Airport Facilities Generally|Chapter 362 - Regional Airports|Subchapter 1 - General Provisions|§ 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.
AR Code § 14-362-114 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 22 - Airport Facilities Generally|Chapter 362 - Regional Airports|Subchapter 1 - General Provisions|§ 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 any of the officers whose signatures appear on the bonds or coupons shall cease to be such officers before the delivery of the bonds or coupons, their signatures shall nevertheless be valid and sufficient for all purposes.    (b) The coupons attached to the bonds may be executed by the facsimile signature of the chair of the authority.
AR Code § 14-362-115 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 22 - Airport Facilities Generally|Chapter 362 - Regional Airports|Subchapter 1 - General Provisions|§ 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, municipality, or the state.  (b)  (1) In no event shall the revenue bonds constitute an indebtedness of any county, municipality, or the state within the meaning of any constitutional or statutory limitation.  (2) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this chapter and that it does not constitute an indebtedness of any county, municipality, or the state within any constitutional or statutory limitation.    (c) The principal of and interest on the bonds may be secured, to the extent set forth in the resolution or indenture securing the bonds, by a pledge of and payable from all or any part of revenues derived from the use of the facilities of the authority, including, without limitation:  (1) Revenues derived from rates and charges imposed and maintained for the use of the facilities of the authority;  (2) Revenues derived from taxes levied under §§ 14-362-109(14) and 14-362-109(20);  (3) Lease rentals under leases or payments under security agreements or other instruments entered into under this chapter; and  (4) Revenues derived from tolls imposed upon vehicles utilizing intermodal access roads providing service to the airport and revenues derived from related auxiliary services and facilities.
AR Code § 14-362-116 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 22 - Airport Facilities Generally|Chapter 362 - Regional Airports|Subchapter 1 - General Provisions|§ 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 bonds may be combined with bonds issued into a single issue.    (b)  (1) When bonds are issued under this section for refunding purposes, the bonds may either be sold or delivered in exchange for the outstanding obligations.  (2) If sold, the proceeds may be either applied to the payment of the obligations refunded or deposited in escrow for the retirement of them.    (c)  (1) All refunding bonds issued under this chapter shall, in all respects, be authorized, issued, and secured in the manner provided for other bonds issued under this chapter and shall have all the attributes of these bonds.  (2) The resolution under which these refunding bonds are issued may provide that any of the refunding bonds shall have the same priority of lien on the revenues pledged for their payment as was enjoyed by the obligations refunded by them.
AR Code § 14-362-117 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 22 - Airport Facilities Generally|Chapter 362 - Regional Airports|Subchapter 1 - General Provisions|§ 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, or any portion thereof, and the extent of the mortgage lien or security interest may be controlled by the resolution or indenture including, without limitation, provisions pertaining to the release of all or part of the facilities subject to the mortgage lien or security interest in the event of successive issues of bonds.  (b) Subject to the terms, conditions, and restrictions contained in the resolution or indenture, any holder of any of the bonds, or of any coupon attached thereto, or a trustee on behalf of the holders may, either at law or in equity, enforce the mortgage lien or security interest and may, by proper suit, compel the performance of the duties of the officials of the authority set forth in this chapter and set forth in the resolution or indenture.
AR Code § 14-362-118 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 22 - Airport Facilities Generally|Chapter 362 - Regional Airports|Subchapter 1 - General Provisions|§ 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 any court having jurisdiction may appoint a receiver to take charge of any facilities upon or in which there is a mortgage lien or security interest securing the bonds in default.  (2) The receiver shall have the power to operate and maintain the facilities in receivership and to charge and collect rates and rents sufficient to provide for the payment of any costs of receivership and operating expenses of the facilities in receivership and to apply the revenues derived from the facilities in receivership in conformity with this chapter and the resolution or indenture securing the bonds in default.  (3) When the default has been cured, the receivership shall be ended and the facilities returned to the authority.    (b) The relief provided for in this section shall be construed to be in addition and as supplemental to the remedies that may be provided for in the resolution or indenture securing the bonds and shall be so granted and administered as to accord full recognition to priority rights of bondholders as to the pledge of revenues from, mortgage lien on, and security interest in facilities as specified in and fixed by the resolution or indenture securing successive issues of bonds.
AR Code § 14-362-119 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 22 - Airport Facilities Generally|Chapter 362 - Regional Airports|Subchapter 1 - General Provisions|§ 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 government, or any agency or subdivision thereof, containing such provisions, covenants, terms, and conditions as the authority may deem advisable.
AR Code § 14-362-120 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 22 - Airport Facilities Generally|Chapter 362 - Regional Airports|Subchapter 1 - General Provisions|§ 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 acquire any lands, structures, buildings, or other rights, either in fee or as easements, for the purposes set forth in this chapter, the authority may purchase them directly or through its agents from the owners thereof, or failing to agree with the owners, the authority may exercise the power of eminent domain in the manner provided for condemnation proceedings under §§ 14-358-101, 14-358-102, and 14-360-102, and these purposes are declared to be public uses for which private property may be taken or damaged.
AR Code § 14-362-121 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 22 - Airport Facilities Generally|Chapter 362 - Regional Airports|Subchapter 1 - General Provisions|§ 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 office or employee of the state, or of any subdivision thereof.  (b)  (1) The property of each authority shall be exempt from all local and municipal taxes.  (2) Bonds, notes, debentures, and other evidence of indebtedness of the authority are declared to be issued for a public purpose and to be public instrumentalities and, together with interest thereon, shall be exempt from taxes.
AR Code § 14-362-122 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 22 - Airport Facilities Generally|Chapter 362 - Regional Airports|Subchapter 1 - General Provisions|§ 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 for the maintenance, improvement, and operation of the airport and for meeting all required payments on its obligations, it shall set aside the reserve for future operations, improvements, and contingencies as it shall deem proper and shall then apply the residue of the surplus, if any, to the payment of any recognized and established obligations not then due.  (b)  (1) After all the recognized and established obligations have been paid and discharged in full, at the end of each fiscal year the authority shall set aside the reserve for future operations, improvements, and contingencies as prescribed in subsection (a) of this section and then pay the residue of the surplus, if any, to the counties, municipalities, and the state in direct proportion to their financial contribution.  (2) No such distribution of the residue of the surplus shall violate United States law or the terms of any deed, grant agreement, or other agreement with the United States.
AR Code § 14-362-123 (2020)
2020 Arkansas Code|Title 14 - Local Government|Subtitle 22 - Airport Facilities Generally|Chapter 362 - Regional Airports|Subchapter 1 - General Provisions|§ 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 to do so.  (b) In order to afford maximum opportunities for contributions, the agreement provided for under § 14-362-103 may be treated as a cooperative agreement under the provisions of the Interlocal Cooperation Act, § 25-20-101 et seq., and may contain language enabling the agreement to be treated as a formal compact under §§ 14-165-201 — 14-165-204 in which case the authority shall hold title to property in its powers and capacity as a public corporation rather than as a commission-trustee as provided in §§ 14-165-201 — 14-165-204, or may be treated as a less formal arrangement for the cooperative use of industrial development bond funds, all to the end that the counties and municipalities may contribute to the authority funds derived from general obligation bonds under the Arkansas Constitution, Amendments No. 13 and 49, from revenue bonds under §§ 14-164-201 — 14-164-206 and 14-164-208 — 14-164-223 from other available sources, and may contribute funds derived from a combination of these sources.