{"data":{"id":"us-ar/ark.-code-ann.-15-4-3013","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 15-4-3013","heading":"Powers of the Arkansas Economic Development Commission","body":"In addition to powers conferred under other laws, the Arkansas Economic Development Commission may take any action necessary to carry out the purposes of this subchapter, including the power to:\n\n(1) Provide loans and grants from bond proceeds or project revenues to local entities and to authorize local entities to make loans to other persons for financing superprojects;\n\n(2) Cause the Arkansas Development Finance Authority to purchase with bond proceeds or project revenues, bonds or notes from a local entity in order to provide funds for financing superprojects and to enter into note and bond purchase agreements in connection with those purchases;\n\n(3) Fix, regulate, and collect rates, fees, rents, or other charges for making any loan or commitment under this subchapter and for performing accounting and loan servicing duties relating to the loans;\n\n(4) Require audits of all accounts related to construction, operation, or maintenance of any superproject funded by this subchapter;\n\n(5) Take reasonable actions necessary to ensure that debt service requirements are met;\n\n(6) Refinance loans made by the authority from whatever source to local entities in order to develop a superproject;\n\n(7) Provide loans from bond proceeds or project revenues to local entities for the purpose of refinancing indebtedness of the local entity incurred for the purpose of financing a superproject; and\n\n(8) Take any other action necessary to accomplish the purposes of this subchapter.","path":["AR Code","Title 15","Chapter 4","Subchapter 30"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"722c8dba463da2f1f4f521d17d251e601eee97307bb192f08daf79c3454b9919","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-15-4-3012","next":"us-ar/ark.-code-ann.-15-4-3014"},"notice":"GroundRules: Original legal text. Not legal advice."}