(a) Each authority created under this subchapter will be performing public functions and will be a public instrumentality of the participating municipal electric utilities.
(b) Accordingly, all properties at any time owned by the authority and the income from the properties, shall be exempt from all taxation in the State of Arkansas.
Structure Arkansas Code
Chapter 20 - Interlocal Cooperation Act
Subchapter 4 - Arkansas Municipal Electric Utility Interlocal Cooperation Act of 2003
§ 25-20-404. Powers and duties of board of commissioners
§ 25-20-405. Powers of authority
§ 25-20-409. Lien in favor of bond holders
§ 25-20-411. Security deposit of public funds
§ 25-20-412. No personal liability
§ 25-20-414. Tax-exempt status of property owners and income
§ 25-20-416. No public utility status
§ 25-20-417. Annual report and audit
§ 25-20-418. Provisions supplemental and controlling
§ 25-20-421. Effect of other laws
§ 25-20-423. Termination or dissolution