§ 2-336. Additional authority.

The board is hereby additionally authorized and empowered:

(a)

To have perpetual succession as a body politic and corporate and to adopt bylaws, not in conflict with this article or the Public Facilities Board Act, for the regulation of its affairs and the conduct of its business;

(b)

To adopt an official seal and alter it at pleasure;

(c)

To maintain an office at such place in Pulaski County, Arkansas, as it may designate;

(d)

To sure and be sued in its own nature;

(e)

To fix, charge and collect rents, fees and charges for the use of any public facilities bridge project;

(f)

To employ and pay compensation to such employees and agents, including attorneys, consulting engineers, architects, surveyors, accountants, financial experts, and such other employees and agents as may be necessary in its judgment, and to fix their compensation;

(g)

To do any and all other acts and things deemed necessary to accomplish the public facilities project for which it is authorized by this article, the Public Facilities Board Act as it may from time to time be amended, and all other things necessary or convenient to accomplish the purposes for which the board has been created;

(h)

To lend money, directly or indirectly, for the financing of the construction, acquisition, and equipment of all or a portion of a public facilities bridge project;

(i)

To invest money, including a major portion of the proceeds of any issue of bonds for the term of the bonds or a shorter period, in consideration of a contract to make payment or payments to provide of the payment of the principal, premium, if any, and interest on the bonds when due;

(j)

To do any and all other things necessary or convenient to accomplish the purposes for which the board has been created.

(Ord. No. 02-OR-22, Art. 5, 4-23-02)