Ark. Code Ann. § 14-203-103: Scope of chapter

(a) Nothing in this chapter shall be construed as modifying or diminishing the present authority of municipalities respecting the ownership and operation of their electric systems including, without limitation, the authority contained in §§ 14-202-101 - 14-202-123 and §§ 14-204-101 - 14-204-112 .

(b) Nothing in this chapter shall be construed to authorize any municipality to issue or sell bonds under the provisions of this chapter or to use the proceeds thereof to purchase, condemn, or otherwise acquire a utility plant or distribution system or portion thereof owned or operated by a regulated public utility without the consent of such public utility.