§ 10-19. General powers of the board.

The board is hereby specifically empowered:

(a)

To own, acquire, construct, reconstruct, extend, equip, improve, operate, maintain, sell, lease, contract concerning, or otherwise deal in or dispose of health care facilities, emergency medical health care facilities, residential housing facilities, off-street parking facilities, recreational and tourist facilities, waterworks facilities, sewer facilities, facilities for securing or developing industry, energy facilities, hydroelectric power projects, education facilities, other capital improvement facilities, or any combination of such facilities, or any interest in such facilities including, without limitation, leasehold interests in any mortgages on such facilities;

(b)

To make loans to mortgage lenders, defined as all banks or trust companies, industrial loan institutions, credit unions, mortgage banking firms, national banking associations, savings and loan associations and investment banking firms that maintain a principal office or place of business in the state, and all insurance companies authorized to do business in the state, on condition that the mortgage lenders use the proceeds of each loan to provide financing for either health care facilities, emergency medical health care facilities, residential housing facilities, off-street parking facilities, recreational and tourist facilities, waterworks facilities, sewer facilities, facilities for securing or developing industry, energy facilities, educational facilities, hydroelectric power projects, other capital improvement facilities, or any combination of such facilities;

(c)

To do such other things and perform such other acts as are now or may be in the future authorized by the General Assembly of the State of Arkansas. As used in this section, the term "other capital improvement facilities" means any of the following: city or town halls, courthouses; administrative executive, or other public offices; court facilities; jails; police and sheriff stations, apparatus, and facilities; fire fighting facilities and apparatus; public health facilities and apparatus; hospitals, nursing homes, and similar extended-care facilities; residential housing for low and moderate income, elderly or handicapped persons and families; parking facilities and garages; educational and training facilities for public employees; auditoriums; stadiums; convention, meeting, or entertainment facilities; ambulance and other emergency medical service facilities; civil defense facilities; air and water pollution control facilities; drainage and flood control facilities; storm sewers; arts and crafts centers; museums; libraries; public parks, playgrounds, or other public open space; marinas; swimming pools, tennis courts, golf courses, camping facilities, gymnasiums, and other recreational facilities; tourist information and assistance centers; historical, cultural, natural, or folklore sites; fair and exhibition facilities; streets and street lighting, alley sidewalks, roads, bridges, and viaducts; airports, passenger or freight terminals, hangars and related facilities; barge terminals, ports, harbors, ferries, wharves, docks, and similar marine services, slack water harbors, water resource facilities, waterfront development facilities, and navigational facilities; public transportation facilities; public water systems and related transmission and distribution facilities, storage facilities, wells, impounding reservoirs, treatment plants, lakes, dams, watercourses, and water rights; sewer collection systems and treatment plants; maintenance and storage buildings and facilities; incinerators; garbage and solid waste collection disposal, compacting, and recycling facilities of every kind; gas and electric generation, transmission, and distribution systems including, without limiting the generality of the foregoing, hydroelectric generating facilities, dams, powerhouses, and related facilities; and social and rehabilitative service facilities.

(Ord. No. 92-OR-26, Art. 5, 3-25-92)