§ 27-76-402 - Limitations. - Arkansas Statutes

27-76-402. Limitations.

(a) Notwithstanding any other provision of law, a regional mobility authority shall not sell a toll facility project to a private entity or enter into a lease for a toll facility or concession agreement related to a toll facility.

(b) Notwithstanding any other provision of law, a toll facility project established by a regional mobility authority shall be for construction of new highways only.

(c) Notwithstanding any other provision of law, a regional mobility authority shall not establish a toll facility project without voter approval of the initial imposition of the tolls, including the initial toll rate, and if revenue bonds are to be issued by the regional mobility authority to fund all or a portion of the costs of the toll facility project, the issuance of the maximum principal amount of bonded indebtedness.

(d) Notwithstanding any other provision of law, a regional mobility authority shall not acquire or receive by conveyance a transportation project or transportation system from another public or private entity that is either completed or for which a construction notice to proceed has been issued to convert the transportation project or transportation system to a toll facility project.