It is the intent of the General Assembly by the passage of this chapter to authorize in each municipality in this state the incorporation of a public corporation as a political subdivision of the state for the purpose of providing buildings and facilities for the respective purposes of projects enumerated in subdivision (9) of § 14-138-102, and to invest the corporation with all powers that may be necessary to enable it to accomplish such purposes, including the power to lease its properties and to issue interest bearing revenue bonds.Acts 1967, No. 409, § 2; 1968 (1st Ex. Sess.), No. 28, § 2; 1970 (Ex. Sess.), No. 41, § 3; A.S.A. 1947, § 19-5102.
Arkansas Legal Code