In the event the board shall so determine, any authority may make sale of all or any part of its properties and assets and distribute the proceeds among the participating municipalities and the counties in the proportion each such unit contributed to the authority's funds or otherwise in the manner set forth in the agreement establishing the authority, provided, no sale of properties or assets and no distribution of proceeds of such sale shall be done in a manner which violates United States law or the terms of any deed, grant agreement, or other agreement with the United States.
Structure Arkansas Code
Subtitle 8 - Public Facilities Generally
Chapter 143 - Regional Intermodal Facilities Act
§ 14-143-103. Establishment of authorities
§ 14-143-104. Authority as public corporation
§ 14-143-105. Appointment of board
§ 14-143-106. Vacancy on board
§ 14-143-107. Compensation prohibited — Reimbursement of expenses
§ 14-143-108. Facilities authorized
§ 14-143-109. Powers of authority generally
§ 14-143-110. Issuance of revenue bonds — Authorization
§ 14-143-111. Issuance of revenue bonds — Resolution of authority — Nature of bonds
§ 14-143-112. Issuance of revenue bonds — Indenture
§ 14-143-113. Issuance of revenue bonds — Price and manner sold
§ 14-143-114. Issuance of revenue bonds — Execution
§ 14-143-115. Issuance of revenue bonds — Obligation of authority
§ 14-143-116. Issuance of revenue bonds — Refunding bonds
§ 14-143-117. Issuance of revenue bonds — Mortgage lien
§ 14-143-118. Issuance of revenue bonds — Default
§ 14-143-119. Agreements to obtain funds
§ 14-143-120. Acquisition of property
§ 14-143-121. Exemption from taxation
§ 14-143-122. Use of surplus funds
§ 14-143-123. Public and private contributions
§ 14-143-124. Accounts and reports
§ 14-143-125. County, municipal, and state authority
§ 14-143-126. Lease of facilities