Arkansas § 14-238-103 - Definitions.

§ 14-238-103. Definitions.

As used in this subchapter, unless the context otherwise requires: “Acquire” means to obtain by gift, purchase, or other arrangement any project or any portion of a project, whether theretofore constructed and equipped, theretofore partially constructed and equipped, or being constructed and equipped at the time of acquisition, for such consideration and pursuant to such terms and conditions as the board shall determine; “Construct” means to acquire or build, in whole or in part, in such manner and by such method, including contracting therefor, and, if the latter, by negotiation or bidding upon such terms and pursuant to such advertising as determined by the board, as will most effectively serve the purposes of this subchapter; “Equip” means to install or place in or on any building or structure equipment of any and every kind, whether or not affixed, including, without limitation, building service equipment, fixtures, heating equipment, air conditioning equipment, machinery, furniture, furnishings, and personal property of every kind; “Facilities” means real property, personal property, or mixed property of any and every kind, including, without limitation, rights-of-way, utilities, materials, equipment, fixtures, machinery, furniture, furnishings, buildings, and other improvements of every kind; “Lease” means to lease as lessor or lessee for such rentals, for such periods, and upon such terms and conditions as the board shall agree, including, without limitation, such extension and purchase options for such prices and upon such terms and conditions as the board shall agree; “Lend” means to extend credit, make a loan to, acquire the obligations of, and generally, without limitation, engage in the financing of any facilities which the board has the authority to construct, acquire, or equip pursuant to this subchapter, upon such terms and with such security as the board deems suitable; “Ordinance” means an ordinance of a quorum court; “Rural waterworks facilities board” or “board” means any board organized under this chapter; “Sell” means to sell for such price, in such manner, and upon such terms as the board shall determine, including, without limitation, public or private sale, and if public, pursuant to such advertisement as the board shall determine, for cash or on credit, payable in a lump sum or in such installments as the board shall determine, and if on credit, with or without interest and at such rate as the board may determine; “Wastewater facilities” means facilities for the collection, treatment, and disposal of wastewater, but shall not include solid or hazardous waste; and “Waterworks facilities” means facilities for the furnishing of water for domestic, commercial, agricultural, and industrial purposes, including, without limitation, mains, hydrants, meters, valves, standpipes, storage tanks, pumping tanks, intakes, wells, impounding reservoirs, purification plants, and lakes and watercourses.