§ 51:1022 — Cooperative endeavors involving the state

The governor, on behalf of the state, is authorized to enter into cooperative endeavor agreements with Arkansas and Mississippi for the public purpose of enhancing or maintaining the economic well-being of the delta region of the state. Such cooperative endeavor agreements may provide for the investment, pledge, use, or deposit of state funds and the guarantee by the state of certain financial obligations, or may otherwise obligate the state financially to achieve the goals set forth herein, subject to the appropriation of requisite funds, and only upon a showing of reasonable expectations that such obligation will result in economic development, creation of new jobs, the maintenance of existing jobs, and will combat poverty and high unemployment through economic development, or will achieve other economic goals that will equal or exceed the value of the obligations of the state required thereby.

Legislative History

Acts 1997, No. 125, §1; Acts 2002, 1st Ex. Sess., No. 43, §1, eff. April 18, 2002.