Ark. Code Ann. § 14-167-205: Energy project authority

(a) Any municipality and any county in this state is authorized to own, acquire, construct, reconstruct, extend, equip, improve, operate, maintain, sell, lease, contract concerning, or otherwise deal in, or dispose of, or make loans to finance the acquisition, construction, reconstruction, extension, equipment, or improvement of energy facilities.

(b) Any such undertaking will be referred to in this subchapter as an "energy project."