Facilities Board

Section 2-584 - General Powers

The public facilities board is empowered to: 

1. Own, acquire, construct, reconstruct, extend, equip, improve, operate, maintain, sell, lease, contract concerning or otherwise deal in or dispose of any one or more public facilities authorized in A.C.A. § 14-137-106 or any interest in such facilities, including without limitation leasehold interests in and loans evidenced by promissory notes and secured by real estate mortgages and/or security interests in personal properties of such facilities from their owners and to make loans to mortgage lenders (as defined in A.C.A. § 14-136-106) to provide financing for such facilities.
2. Issue bonds through a licensed bond broker, to obtain funds and revenues for the accomplishment of any of the public facilities projects authorized in this division, either alone or together with other available funds and revenues.

For more information on the role of the Facility Board, please view the Municipal Code.