(a) Boards of improvement in municipal improvement districts organized in this state for the purpose of constructing wharves for the transfer and interchange of river and rail freights are charged with the duty to operate, manage, and control the improvements.(b)(1) The boards shall also have the power to lease the improvements, in whole or in part, or otherwise contract for the operation of the improvement, upon such terms as may be deemed by them advisable and have power to lease from others such equipment as in the judgment of the board may be deemed advisable.(2) The board shall collect moneys due the district for tolls, wharfage, storage, elevation, rentals, and all moneys other than moneys received from collection of the assessment of benefits and shall keep an accurate and separate account of them.(c) The board shall have control of the disbursement of the moneys and may pay costs of operations, maintenance, repairs, replacements, renewals, improvements, depreciation, or bonded or other indebtedness in such manner as the board may deem to be in the best interests of the owners of real property in the district.Acts 1927, No. 61, § 1; Pope's Dig., § 7445; A.S.A. on, or bonded or other indebtedness in such manner as the board may deem to be in the best interests of the owners of real property in the district.Acts 1927, No. 61, § 1; Pope's Dig., § 7445; A.S.A. 1947, § 20-601.
Arkansas Legal Code