Ark. Code Ann. § 20-7-411: Formation of contracts

(a) The authorizing resolution and each agreement or other writing executed and delivered pursuant to it or to this subchapter, together with this subchapter, shall constitute a contract between the State Board of Health and the Arkansas Development Finance Authority, and the obligations of the board may be enforced by mandamus or other equitable or legal remedy.

(b) The obligations of the board shall be freely assignable by the authority, provided that the board is notified in writing of the assignment.