Arkansas § 14-250-111 - Powers.

§ 14-250-111. Powers.

Each wastewater district shall have power: To sue and be sued, and complain and defend, in its corporate name; To adopt a seal, which may be altered at pleasure, and to use it, or a facsimile thereof, as required by law; To construct, erect, lease as lessee, purchase, and in any manner acquire, hold, own, maintain, operate, sell, dispose of, lease as lessor, exchange, and mortgage plants, buildings, works, machinery, supplies, equipment, facilities, property rights, and transportation and collection lines useful, necessary, or convenient to the purpose of the district as set forth in this chapter; To acquire, own, hold, use, exercise, and, to the extent permitted by law, sell, mortgage, pledge, hypothecate, and in any manner dispose of franchises, rights, privileges, licenses, rights-of-way, and easements necessary, useful, or appropriate; To purchase, receive, lease as lessee, or in any other manner acquire, own, hold, maintain, sell, exchange, and use any and all real and personal property, or any interest therein; To borrow money and otherwise contract indebtedness, to issue its obligations therefor, and to secure the payment thereof by mortgage, pledge, or deed of trust of all or any of its property, assets, franchises, rights, privileges, licenses, rights-of-way, easements, revenues, or income. Any and all securities and evidences of indebtedness issued by a wastewater district formed pursuant to this chapter and the income, interest, and capital gains thereon shall be subject to the income tax and inheritance tax laws of this state, and persons owning or holding securities and evidences of indebtedness or their heirs, devisees, successors, or assigns shall not be required to pay to the State of Arkansas inheritance tax upon the securities or evidences of indebtedness and shall not be required to pay to the State of Arkansas income tax upon the profits and capital gains upon the securities and evidences of indebtedness; To sell and convey, mortgage, pledge, lease as lessor, and otherwise dispose of all or any part of its property, assets, franchises, rights, privileges, licenses, rights-of-way, and easements; In connection with the acquisition, construction, improvement, operation, or maintenance of its transportation and collection lines, systems, equipment, facilities, or apparatus, to acquire any highway or any right-of-way, easement, or other similar property rights, or any tax-forfeited land owned or held by the State of Arkansas or any political subdivision thereof; To have and exercise the right of eminent domain for the purpose of acquiring rights-of-way and other properties necessary in the construction or operation of its property and business in the manner now provided by the condemnation laws of this state for acquiring private property for public use; To accept gifts or grants of money, services, franchises, rights, privileges, licenses, rights-of-way, easements, or other real or personal property; To make any and all contracts necessary or convenient for the exercise of the powers granted in this chapter; To fix, regulate, and collect rates, fees, rents, or other charges for wastewater collection and disposal and any other facilities, supplies, equipment, or services furnished by the wastewater district. The rates shall be just, reasonable, and nondiscriminatory; To conduct its affairs within and without this state; To elect, appoint, or employ officers, agents, and employees of the district and to define their duties and fix their compensation; To do and perform all acts and things and to have and exercise any and all powers necessary, convenient, or appropriate to effectuate the purpose for which the district is organized.