Arkansas Code Title 27. Transportation § 27-76-403. Authority to contract

(1) Lease agreements;

(2) Rental agreements;

(3) Operating agreements;

(4) Service agreements;

(5) License agreements;

(6) Promotional agreements;

(7) Purchasing agreements; and

(8) Public-private partnership agreements for transportation projects concerning rail, waterway, or trail.

(1) Rent, lease, or make property available for the benefit of users of a transportation project or a transportation system other than a public utility facility;

(2) Plan, design, construct, operate, or maintain a transportation project on behalf of a governmental entity within the boundaries of the regional mobility authority; and

(3) Acquire with the consent of a governmental entity or private entity a transportation project or transportation system from that entity and assume any debts, obligations, and liabilities of the entity relating to a transportation project or transportation system transferred to the regional mobility authority, provided that a regional mobility authority shall not acquire a transportation project or transportation system from another public or private entity that is completed or for which a construction notice to proceed has been issued to convert the transportation project or transportation system to a toll facility project.