(a) This subchapter shall be liberally construed to accomplish its intent and purposes and shall be the sole authority required for the accomplishment of its purpose. To this end, it shall not be necessary to comply with general provisions of other laws dealing with public facilities, their acquisition, construction, leasing, encumbering, or disposition.(b)(1) The practice of municipalities and counties and their authority to loan the proceeds of industrial development revenue bonds to accomplish the purposes set forth in § 14-164-205 is explicitly confirmed and ratified.(2) All loans previously made by a municipality or county shall be considered for all purposes as if made under the authority of this subchapter.Acts 1960 (Ex. Sess.), No. 9, § 15; 1961, No. 48, § 5; 1971, No. 208, § 2; A.S.A. 1947, §§ 13-1614, 13-1615; Acts 2005, No. 1922, § 2. (a) This subchapter shall be liberally construed to accomplish its intent and purposes and shall be the sole authority required for the accomplishment of its purpose. To this end, it shall not be necessary to comply with general provisions of other laws dealing with public facilities, their acquisition, construction, leasing, encumbering, or disposition.(b)(1) The practice of municipalities and counties and their authority to loan the proceeds of industrial development revenue bonds to accomplish the purposes set forth in § 14-164-205 is explicitly confirmed and ratified.(2) All loans previously made by a municipality or county shall be considered for all purposes as if made under the authority of this subchapter.Acts 1960 (Ex. Sess.), No. 9, § 15; 1961, No. 48, § 5; 1971, No. 208, § 2; A.S.A. 1947, §§ 13-1614, 13-1615; Acts 2005, No. 1922, § 2.
Arkansas Legal Code