AR SB282

Amends Arkansas Code § 25-20-306(a) to grant public bodies under the Consolidated Waterworks Authorization Act power to own, acquire, construct, improve, operate, maintain, sell, or lease land, buildings, or facilities for residential, multifamily housing, commercial, or industrial purposes supporting community redevelopment, stranded infrastructure utilization, or economic development.

Authorizes public bodies to exercise all powers including borrowing money to provide security for or payment of borrowed funds in furtherance of the new redevelopment and economic development powers.

Adds authority for public bodies to provide plumbing services to retail customers subject to the Arkansas Plumbing Code, including pressure reduction device services, backflow prevention device services, sprinkler system maintenance and repair, service line repair and replacement, and leak detection.

Amends Arkansas Code § 25-20-310 to authorize issuance of revenue bonds for community redevelopment, stranded infrastructure utilization, and economic development projects including wastewater systems, storm water systems, residential or multifamily housing, and commercial or industrial facilities.

Permits bonds to finance project design, construction, reconstruction, equipping, maintenance, improvement, repair, replacement, construction interest, bond reserves, issuance costs, and incidental expenses, with bonds payable solely from project revenues and exempting public bodies from certain existing compliance requirements.