2010 Arkansas Code
Title 14 - Local Government
Subtitle 18 - Roadways, Bridges, And Parking Generally
Chapter 303 - Municipal Tollway Authority Act
Subchapter 3 - Construction of Tollway Projects
§ 14-303-301 - Prerequisites to undertaking project.

14-303-301. Prerequisites to undertaking project.

No tollway project shall be undertaken unless and until the tollway project involved shall have been thoroughly studied with respect to traffic, engineering, costs, and financing, and unless the authority involved makes, by resolution entered in the records of that authority, a determination based upon the study that:

(1) Sufficient public funds for construction of the proposed tollway are not available; and

(2) The construction of the proposed tollway can be financed wholly through the investment of private funds in revenue bonds.