With regard to warehouse facilities used for commercial warehousing purposes mentioned § 14-185-108(a)(1)-(4), (6), (7), and (9)-(11), § 14-185-108(b), and § 14-185-109(2), (3), (12), and (13), the authority, prior to entering into a new lease of existing warehouse facilities or into a lease of new warehouse facilities, in whole or in part, or prior to operating warehouse facilities for these purposes, in whole or in part, shall first publicly solicit proposals for the leasing or operation of the warehouse facilities for these purposes on such terms as shall be customary and usual in the commercial warehousing industry. The authority shall accept such proposal as is commercially reasonable and in the authority's best interest.
Structure Arkansas Code
Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities
Chapter 185 - Metropolitan Port Authorities
§ 14-185-104. Power to establish
§ 14-185-105. Organization of authority
§ 14-185-106. Members of the board of authority
§ 14-185-107. Permanent records of authority
§ 14-185-108. General purposes of authority
§ 14-185-109. Powers of authority generally
§ 14-185-110. Warehouse facilities — Proposals for lease or operation
§ 14-185-111. Acquisition of rights-of-way and property
§ 14-185-112. Condemnation of utility system prohibited
§ 14-185-113. Operation of terminal railroads
§ 14-185-114. Dealings with federal government
§ 14-185-115. Assistance by municipalities and counties
§ 14-185-116. Authority to borrow funds, issue bonds
§ 14-185-117. Bonds — Authority to issue
§ 14-185-118. Bonds — Covenants and agreements — Enforcement
§ 14-185-119. Bonds — Purposes
§ 14-185-120. Bonds — Principal amount
§ 14-185-121. Bonds — Resolution or trust indenture generally
§ 14-185-122. Bonds — Authorizing resolution
§ 14-185-123. Bonds — Terms and conditions
§ 14-185-124. Bonds — Trust indenture
§ 14-185-125. Bonds — Contents
§ 14-185-127. Bonds, coupons — Execution
§ 14-185-128. Bonds — Conversion
§ 14-185-130. Bonds — General or special obligations
§ 14-185-131. Bonds — Liability
§ 14-185-132. Bonds — Pledge of revenues
§ 14-185-134. Bonds — Tax exemption
§ 14-185-135. Bonds as legal investment