This board is hereby authorized to use any available funds and revenues for the accomplishment
of the projects which it is authorized hereunder, and by Act 879 of 1981, as it shall
be amended from time to time, to own, acquire, construct, reconstruct, repair, extend,
equip, improve, operate, maintain, sell, lease, contract concerning or otherwise deal
in such projects. Bonds may be issued by the board in such principal amounts as shall
be sufficient to pay the cost of accomplishing the projects involved; the cost of
issuing the bonds; the amount necessary for reserves, if deemed desirable; the amount
necessary to provide for debt service on the bonds until revenues for the payment
thereof are available from other sources; and any other costs and expenditures, of
whatever nature, incidental to the accomplishment of the facilities involved and the
placing of it in operation. Any net earnings of the board (beyond that necessary for
retirement of the indebtedness or to implement any public facilities project) shall
not inure to the benefit of any person other than to Pulaski County, Arkansas. All
funds and revenues shall be handled by or through a trust bank and/or custodian and
shall be governed by the terms of a standard trust indenture between the board and
the trust bank and/or custodian.
(Ord. No. 81-OR-33, § 5, 6-30-81)
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