§ 15-5-104 — Construction

(a) This subchapter and §§ 15-5-201 - 15-5-211 , 15-5-213 , and 15-5-301 - 15-5-316 shall be liberally construed. (b) Nothing contained in this subchapter and §§ 15-5-201 - 15-5-211 , 15-5-213 , and 15-5-301 - 15-5-316 shall be construed as a restriction or limitation upon any powers which the Arkansas Development Finance Authority might otherwise have under any other law of this state, and the provisions of this subchapter and §§ 15-5-201 - 15-5-211 , 15-5-213 , and 15-5-301 - 15-5-316 are cumulative to such powers. The provisions of this subchapter and §§ 15-5-201 - 15-5-211 , 15-5-213 , and 15-5-301 - 15-5-316 shall be construed to provide a complete, additional, and alternative method for the doing of the things authorized and shall be regarded as supplemental and additional to powers conferred by any other laws. (c) The issuance of bonds under the provisions of this subchapter and §§ 15-5-201 - 15-5-211 , 15-5-213 , and 15-5-301 - 15-5-316 need not comply with the requirements of any other state laws applicable to the issuance of bonds, notes, and other obligations, and it shall not be necessary to comply with general provisions of other laws dealing with public facilities, their acquisition, construction, leasing, encumbering, or disposition. (d) No proceedings, notice, or approval shall be required for the issuance of any bonds or any instrument or the security therefor except as provided for in this subchapter and §§ 15-5-201 - 15-5-211 , 15-5-213 , and 15-5-301 - 15-5-316 .

Legislative History

Acts 1985, No. 1062, § 21.00; A.S.A. 1947, § 13-2921.