Arkansas Code Title 14. Local Government § 14-143-121. Exemption from taxation

(b)(1) The property of each authority shall be exempt from all local and municipal taxes.

(2) Bonds, notes, debentures, and other evidences of indebtedness of the authority are declared to be issued for a public purpose and to be public instrumentalities and, together with interest thereon, shall be exempt from all state, county, and municipal taxes, including, but without limitation, income, inheritance and estate taxes.

(1) The lessee's facility is constructed after July 22, 2015, and has not been occupied by any other authority lessee;

(2) At an establishment within fifty (50) miles of the intermodal facility, the lessee has not ceased or substantially reduced operations of a nature similar to those being performed at the lessee's facility within the intermodal facility;

(3) The tangible personal property or service is consumed, used, or performed at the lessee's facility within the intermodal facility; and

(4) The lessee's facility is used to carry out the essential governmental functions of the authority under § 14-143-104(b).