§ 27-76-403 - Authority to contract. - Arkansas Statutes

27-76-403. Authority to contract.

(a) A regional mobility authority created under this chapter may enter into agreements or contracts with a governmental entity or a private entity.

(b) The types of agreements or contracts that a regional mobility authority may enter into under this chapter include without limitation:

(1) Lease agreements;

(2) Rental agreements;

(3) Operating agreements;

(4) Service agreements;

(5) License agreements;

(6) Promotional agreements; and

(7) Purchasing agreements.

(c) The scope of agreements or contracts that a regional mobility authority may enter into under this chapter includes without limitation:

(1) Rent, lease, or make property available for the benefit of users of a transportation project or a transportation system other than a public utility facility;

(2) Plan, design, construct, operate, or maintain a transportation project on behalf of a governmental entity within the boundaries of the regional mobility authority; and

(3) Acquire with the consent of a governmental entity or private entity a transportation project or transportation system from that entity and assume any debts, obligations, and liabilities of the entity relating to a transportation project or transportation system transferred to the regional mobility authority, provided that a regional mobility authority shall not acquire a transportation project or transportation system from another public or private entity that is 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.

(d) 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 a concession agreement related to a toll facility.