Ark. Code Ann. § 14-138-103: Construction

(a) This chapter shall be liberally construed in conformity with its intent.

(b) All acts and activities of the corporation performed pursuant to the authority of this chapter are legislatively determined and declared to be essential governmental functions. In this regard, it is determined and declared that this chapter is the sole authority necessary for the performance of the acts authorized by this chapter including, without limitation, the issuance of bonds.