Arkansas Code Title 14. Local Government § 14-359-111. Airport facility improvement financing

(a) All cities qualifying under this chapter are authorized to finance improvements of airport facilities as provided in any manner not inconsistent with the Arkansas Constitution and in accordance with any such finance method including, but not limited to, the issuance of bonds, borrowing money, and the allocation of other available municipal funds authorized cities of the first class in the necessary functions of municipal affairs.

(b) Bonds issued under the authority of this chapter shall bear interest at rate or rates as the ordinance authorizing their issuance may provide.