Arkansas Code Title 14. Local Government § 14-170-202. Definitions

(1) “Governing body” means the council, board of directors, or city commission of any municipality;

(2) “Municipality” means a city of the first class or a city of the second class or an incorporated town;

(3) “Equip” means to install or place in, or on, any building or structure equipment of any and every kind, whether or not affixed including, without limitation, building service equipment, fixtures, heating equipment, air conditioning equipment, machinery, furniture, furnishings, and personal property of every kind;

(4) “Sell” means to sell for such price, in such manner, and upon such terms as the municipality or county shall determine including, without limitation, public or private sale.  If public, sale shall be made pursuant to such advertisement as the municipality or county shall determine, and shall be made for cash or credit, payable in lump sum or in installments over such period as the municipality or county shall determine, and, if on credit, with or without interest, and shall be made at such rates as the municipality or county shall determine;

(5) “Lease” means to lease for such rentals, for such periods, and upon such terms and conditions as the municipality or county shall determine and the granting of such purchase options for such prices and upon such terms and conditions as the municipality or county shall determine;

(6) “Construct” means to acquire or build, in whole or in part, in such manner and by such method, including contracting therefor, and if the latter, by negotiation or bidding upon such terms and pursuant to such advertising, as the municipality or county shall determine to be in the public interest and necessary, under the circumstances existing at the time, to accomplish the purposes of and authorities set forth in this subchapter;

(7) “Facilities” means any real property, personal property, or mixed property of any and every kind that can be used or that will be useful in securing and developing tourism including, without limitation, rights-of-way, roads, streets, pipes, pipelines, reservoirs, utilities, materials, equipment, fixtures, machinery, furniture, furnishings, instrumentalities, buildings, improvements, and other real, personal, or mixed property of every kind.