Arkansas § 14-217-106 - General powers and purposes of districts.

§ 14-217-106. General powers and purposes of districts.

In addition to any purposes and powers authorized elsewhere in this chapter, consolidated utility districts created prior to March 19, 1975, whether pursuant to special act or general law or created after March 19, 1975, subject, in the case of any district created after March 19, 1975, to the terms of the petition for creation of such district, may carry out and shall have the following purposes and powers: To construct consolidated utility systems; To operate and maintain consolidated utility systems; To sell or lease any consolidated system owned by it to or from any public utility corporation, municipality, or other person; To enter into contracts including, without limitation, contracts with any public utility corporation, municipality, or other person, concerning the normal operation and maintenance of any system owned by the district; To enter into agreements with public utility corporations, municipalities, or other persons for the joint or cooperative ownership, financing, construction, or operation and maintenance of any major facility of a utility system. In particular, but without limiting the generality of the foregoing, any district may participate in the financing of any major utility facility owned or to be owned by the other party to the agreement in exchange for the ownership of a portion or the use of the major facility or for an agreed upon portion of the electricity or water thereof. Any such agreement: May provide for the creation of a joint board or committee for administration of the undertaking covered by the agreement or for the delegation of authority to administer such an undertaking to one or more parties to the agreement; May contain provisions specifying the ownership interests of the parties in a major utility facility, including provisions permitting or requiring the exchange by a district with one (1) or more other parties to the agreement of an interest in one (1) or more portions of the major facility for an interest in one (1) or more other portions thereof, and specifying the procedure therefor; and May contain such other terms and conditions as the parties consider appropriate; To retain agents and employees and fix their compensation; To sell and issue revenue bonds and assessment-secured bonds in order to accomplish any of the purposes of this chapter; To establish rates and charges for services of any system owned by it; To establish accounts in one (1) or more banks and to make deposits therein and withdrawals therefrom, with or without requiring bond of the depository as determined by the district; To apply for and receive any moneys or properties from public utility corporations, municipalities, and other persons and to enter into contracts and agreements in connection therewith; To invest and reinvest any of its moneys in securities as determined by the district; In the case of districts created pursuant to laws heretofore enacted, to carry out such purposes and exercise such powers as may be authorized by such laws; To take such action as may be necessary or appropriate to carry out the purposes or to exercise the powers authorized by this chapter.