Ark. Code Ann. § 19-1-213: Leasing of state property

(a) The Secretary of the Department of Finance and Administration may lease, with approval of the Governor, any state property, real or personal, which is not needed for public use, and the leasing of which is not prohibited by law, where the authority to lease the property is not vested in any other state agency.

(b) No property shall be leased under this section for a term exceeding two (2) years.