If the board of a research park authority so determines, the authority may sell all or any part of its properties and assets and distribute the proceeds among the sponsoring counties, municipalities, accredited institutions of higher education, and state agencies in the proportion each sponsor contributed to the authority's funds or otherwise in the manner set forth in the agreement or resolution establishing the authority if no sale of properties or assets and no distribution of proceeds of a sale are done in a manner that 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 144 - Research Park Authority Act
§ 14-144-301. Issuance of revenue bonds — Authorization
§ 14-144-302. Issuance of revenue bonds — Resolution of research park authority — Nature of bonds
§ 14-144-303. Issuance of revenue bonds — Indenture
§ 14-144-304. Issuance of revenue bonds — Price and manner sold
§ 14-144-305. Issuance of revenue bonds — Execution
§ 14-144-306. Issuance of revenue bonds — Obligation of research park authority
§ 14-144-307. Issuance of revenue bonds — Refunding bonds
§ 14-144-308. Issuance of revenue bonds — Mortgage lien
§ 14-144-309. Issuance of revenue bonds — Default
§ 14-144-310. Agreements to obtain funds
§ 14-144-311. Exemption from taxation
§ 14-144-312. Use of surplus funds
§ 14-144-313. Public and private contributions
§ 14-144-314. Accounts and reports
§ 14-144-315. County, municipal, and state participation