§ 27-76-407 - Joint transportation projects or joint transportation systems between regional mobility authorities. - Arkansas Statutes

27-76-407. Joint transportation projects or joint transportation systems between regional mobility authorities.

(a) If two (2) or more regional mobility authorities determine that the traffic needs within the boundaries of each regional mobility authority could be most efficiently and economically met by jointly operating two (2) or more transportation projects in the separate regional mobility authorities, then the regional mobility authorities may create one (1) operational and financial enterprise to operate the transportation projects.

(b) If a regional mobility authority determines that a transportation project could most efficiently and economically be acquired or constructed if it were a part of the transportation system and that the addition will benefit the system, the regional mobility authority may:

(1) Create more than one (1) transportation system and may combine two (2) or more transportation systems into one (1) system; or

(2) Finance, acquire, construct, and operate additional transportation projects as additions to or expansions of a transportation system.

(c) The revenue of a transportation system that is merged under this section shall be accounted for separately and shall not be commingled with the revenue of a transportation project that is not a part of the transportation system that was merged under this section or with the revenue of another transportation system.