2012 Arkansas Code
Title 19 - Public Finance
Appendix -- title 19 - BOND ISSUES
12 Capitol Mall Facility and State Agencies Facilities Acquisition Act of 1991 -- Acts 1991, No. 235, as amended by Acts 1991, No. 923.

SECTION 1. This act shall be known and cited as the "Capitol Mall Facility and State Agencies Facilities Acquisition Act of 1991."

SECTION 2. Definitions. Whenever used in this act, unless a different meaning clearly appears from the context:

(a) "Agency" or "state agency" means any agency, board, office, commission, department, division or institution of the State of Arkansas.

(b) "Bonds" or "revenue bonds" means any bonds, notes, debentures, interim certificates, grant and revenue anticipation notes, interest in a lease, lease certificate(s) of participation or evidences of indebtedness, whether or not the interest on them is subject to federal income taxation.

(c) "The Capitol Mall Facility" or the term "the facility" means those structures contained in the "Facilities -- Master Plan -- Year 1985" on page 79 of the Arkansas State Capitol Complex Master Plan, as prepared under the direction of the Arkansas Public Building Authority authorized by Act 236 of 1973, dated June, 1974, and any architectural drawings prepared in connection therewith which are on file with State Building Services, to include the following:

(i) Building Number 1 under the Legend, entitled "Agency Office, Module A; Visitor Center, 220 Car Garage;"

(ii) Building Number 2 under the Legend, entitled "Agency Office, Module B;"

(iii) Building and Facility Number 4 under Legend, entitled "750 Car Garage;"

(iv) the necessary tie-in to the State Capitol Building and to connect Building Number 3 under the Legend, entitled "Library Archives -- Museum Module" now existing, which is commonly referred to as the the "Big Mac" or "Capitol Mall No. 1" Building;

(v) such modifications to the aforementioned buildings and facilities, and the architectural drawings prepared in connection therewith, as are deemed necessary to meet current and projected needs;

(vi) landscaping and other improvements in connection with the project deemed necessary to accommodate the overall architectural and topographical scheme of the State Capitol grounds; and

(vii) related structures, fixtures, and facilities (including, without limitation, utilities, parking facilities, streets, curbs, gutters, and a maintenance/operations center necessary to accommodate such facility), as may be determined to be appropriate.

(viii) construction of such additional parking decks and parking facilities that are not identified in the "Facilities -- Master Plan -- Year 1985" on page 79 of the Arkansas State Capitol Complex Master Plan, which State Building Services deems necessary to meet parking needs on the State Capitol grounds, provided that the construction thereof does not conflict with the basic design and location of proposed buildings and facilities included within the long-range Capitol Complex Master Plan.

(d) "State Building Services" means the public agency known as "Arkansas State Building Services" and the "State Building Services Council", as established under Arkansas Code § 22-2-101 et seq.

(e) "Construct" means to acquire, construct, reconstruct, remodel, install, and equip any lands, buildings, structures, improvements or other property, real, personal or mixed, useful in connection with buildings and facilities constructed or acquired under this act and to make other necessary expenditures in connection therewith, by such methods and in such manner as the State Building Services shall determine to be necessary or desirable to accomplish the powers, purposes, and authority set forth in this act.

(f) "Authority" means the Arkansas Development Finance Authority created pursuant to Act 1062 of 1985, as amended.

SECTION 3. (a) Capital Mall Facility. In addition to the purposes, powers, and authority set forth elsewhere in this act or in other laws, the State Building Services is hereby authorized and empowered to construct on the State Capitol grounds the Capitol Mall Facility, as defined herein, with construction of new enclosed buildings not to exceed a cumulative gross building area of one hundred thousand (100,000) square feet commenced through calendar year 1992, two hundred thousand (200,000) square feet commenced through calendar year 1994, three hundred thousand (300,000) square feet commenced through calendar year 1996, four hundred thousand (400,000) square feet commenced through calendar year 1998, and five hundred thousand (500,000) square feet commenced through calendar year 2000, with such restrictions to apply to enclosed buildings only and shall not apply to square feet area of parking structures or parking space required in connection with or necessitated by the construction of new buildings or to meet the needs of parking space on the State Capitol grounds; and in furtherance thereof to:

(1) arrange for the housing in the Capitol Mall Facility of state agencies to the extent that space and facilities are available for such purpose, under such terms and conditions and for such rentals and charges as State Building Services may determine;

(2) construct or cause to be constructed streets, curbs gutters, utilities, landscaping, and parking facilities to serve the facility;

(3) purchase, lease, or rent, and receive bequests or donations of or otherwise acquire, sell, trade, or barter, any property (real, personal, or mixed), and convert such property into money and/or other property;

(4) contract and be contracted with;

(5) apply for, receive, accept, and use any moneys and property from the government of the United States of America, provided by the General Assembly, any agency, any state, or governmental body or political subdivision, any public or private organization or corporation, of any nature, or any individual;

(6) take such other actions not inconsistent with law as may be necessary or desirable to carry out the powers, purposes, and authority as set forth herein, in accordance with the duly promulgated policies of the State Building Services as authorized by law.

(b) In addition to the purposes, powers and authority set forth elsewhere in this act or in other laws, in connection with the construction and equipping of the Capitol Mall Facility, as defined herein, the Authority is hereby authorized:

(1) to obtain the necessary funds for accomplishing the purposes set forth in this act, from any source or sources, including, without limitation, the proceeds of revenue bonds or lease financings as authorized herein, and other funds as may be appropriated or may be available therefor; and

(2) contract and to be contracted with; and

(3) invest and reinvest any of the proceeds of such revenue bonds as provided in such authorizing resolution or trust indenture, hereinafter authorized; and

(4) take such other actions not inconsistent with law as may be necessary or desirable to carry out the powers, purposes and authority set forth herein, in accordance with the duly promulgated policies of the Authority as authorized by law.

(c) Acquisition of Buildings and Facilities. In addition to the purposes, powers, and authority set forth in subsection (a) of this section and as set forth elsewhere in this act or in other laws, the State Building Services is hereby authorized and empowered to acquire buildings and facilities located in the city in which the seat of State Government is located to house state agencies, and repair, remodel, and renovate such buildings and facilities as State Building Services shall deem necessary and appropriate to accommodate state agencies, provided that no single acquisition may exceed a total cost of four million dollars ($4,000,000) in value, whether acquired by purchase, exchange, eminent domain, long-term lease, or other means, exclusive of the cost of repairs, remodeling, and renovation of such buildings and facilities as State Building Services deems necessary and appropriate to accommodate state agencies, provided that the area of the structure of any such existing building or facility is not expanded by more than ten percent (10%) in connection therewith. All property acquired on a specific site shall be considered as a part of a single acquisition. In furtherance of the purposes authorized by this subsection, State Building Services is hereby authorized and empowered to:

(1) exercise the power of eminent domain for the purpose of acquiring buildings and facilities and to otherwise carry out the purposes and intent of this act, with such power to be exercised in the manner provided in Arkansas Code § 22-2-109;

(2) arrange for the housing of state agencies in such buildings and facilities to the extent that space and facilities are available for such purpose, under such terms and conditions and for such rentals and charges as State Building Services may determine;

(3) acquire, construct, or cause to be constructed parking facilities to serve the facility;

(4) receive the necessary funds for accomplishing its powers, purposes, and authority from any source or sources, including, without limitation, the proceeds of revenue bonds issued hereunder and other funds as may be appropriated or made available therefor;

(5) purchase, lease, or rent, and receive bequests or donations of or otherwise acquire, sell, trade, or barter, any property (real, personal, or mixed), and convert such property into money and/or other property;

(6) contract and be contracted with;

(7) apply for, receive, accept, and use any monies and property from the government of the United States of America, any agency, any state, or governmental body or political subdivision, any public or private organization or corporation, of any nature, or any individual;

(8) invest and reinvest any of its money (in securities selected by State Building Services);

(9) take such other actions not inconsistent with law as may be necessary or desirable to carry out the powers, purposes, and authority as set forth herein, in accordance with the duly promulgated policies of the State Building Services Council.

(d) It is the intent of this section to authorize State Building Services to undertake, in the manner and subject to the limitations set forth in subsection (a), the construction of the Capitol Mall Facility and that, excepting parking structures, new building construction shall not be permitted under this act except to implement the Capitol Mall Facility as defined in subsection (c) of Section 2 of this act. In addition, it is the purpose of this act to authorize State Building Services to acquire buildings and facilities ("acquired structures") in the city in which the seat of State Government is located in the manner authorized in subsection (b) of this section and to provide that the repair, remodeling, and renovation of such facilities by State Building Services shall not be considered new building construction if such repair, remodeling, and renovation does not expand the existing structure by more than ten percent (10%) in area. The restrictions contained in subsection (a) of this section with respect to the limitations on the square footage of new construction to be undertaken on the Capitol Mall Facility during each biennium, and the restrictions on the cost of a single "acquired structure" under subsection (b) of this section, shall not apply to the acquisition, construction, or improvement of parking structures or parking areas as authorized under subsection (a) of this section or in connection with "acquired structures" under subsection (b) of this section.

SECTION 4. Revenue Bonds.

(a) Pursuant to the intention of the General Assembly expressed in Arkansas Code Annotated § 15-5-303, the Authority, in co-operation with State Building Services, is hereby authorized and empowered to issue revenue bonds, at one time or from time to time, and to use the proceeds thereof for defraying the costs of accomplishing all or part of the powers, purposes and authorities set forth in this act, pay all incidental expenses in connection therewith, pay the expenses of authorizing and issuing the bonds, establishing a debt service reserve to secure the payment of the bonds, if the Authority deems such desirable, and making provision for the payment of interest and trustee's fees on the bonds. The bonds outstanding under this act may be in such principal amount as the Authority and State Building Services shall determine to be necessary for the accomplishment of the purposes of this act.

(b) The bonds shall be authorized, shall be sold by such means, shall bear such rate or rates of interest, and shall be executed and delivered in such manner as the Authority may determine pursuant to the provisions of Arkansas Code Annotated § 15-5-301 to § 15-5-316, inclusive. The Authority is authorized to enter into such authorizing resolutions and trust indentures as it deems necessary to secure the revenue bonds.

SECTION 5. (a) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this act, that the bonds shall be obligations only of the Authority, that in no event shall they constitute an indebtedness for which the faith and credit of the State of Arkansas or any of its revenues (within the meaning of Amendment 20 to the Constitution of the State of Arkansas) are pledged. No member of the Authority shall be personally liable on the bonds.

(b) The principal of, premiums, if any, interest on, and trustees' and paying agents' fees in connection with the bonds shall be secured by a lien on and pledge of and shall be payable from the pledged revenues, defined in Section 6 hereof. The authorizing resolution or trust indenture shall set forth details of the nature and extent of the lien and pledge, including provisions for the use of surplus revenues, if any, for any other lawful purposes.

SECTION 6. The principal of, premiums, if any, interest on, and trustees' and paying agents' fees in connection with all bonds issued under this act shall be secured solely by a lien on and pledge of the gross revenues derived from the leasing or renting to state agencies or other tenants of space in the Capitol Mall Facility and in the buildings and facilities acquired pursuant to this act and the pledging of such revenues (the "pledged revenues") is hereby authorized. All pledged revenues are hereby specifically declared to be cash funds restricted in their use and dedicated (and) to be used solely as provided and authorized in this act. Commencing the first day of the month succeeding the issuance of the bonds hereunder and so long as any bonds are outstanding hereunder, the pledged revenues shall not be deposited into the State Treasury and shall not be subject to legislative appropriation, but, as and when received (by the Authority, or by any other state agency, as the case may be) shall be deposited in a bank or banks selected by the Authority, to the credit of funds designated the "Capitol Mall Facility and State Agencies Facilities Revenue Bond Fund", with appropriate identification for separate issues or series. So long as any bonds are outstanding hereunder, all moneys in any bond fund shall be used solely for the payment of the principal of, premiums, if any, interest on, and trustees' and paying agents' fees in connection with the bonds, with the maintenance of necessary funds and reserves, except that the authorizing resolution or trust indenture may provide for the withdrawal, for other purposes, of surplus monies, as defined in the authorizing resolution or trust indenture. Nothing in this section is intended to prohibit the State Building Services from investing moneys received hereunder, as provided in this act.

SECTION 7. Any authorizing resolution and trust indenture shall, together with this act, constitute a contract between the Authority and the holders and registered owners of the bonds, which contract, and all convenants, agreements and obligations therein, shall be promptly performed in strict compliance with the terms and provisions of such contract, and the covenants, agreements, and obligations of the Authority may be enforced by mandamus or other appropriate proceedings at law or in equity. In this regard, in addition to other provisions referred to above, the Authority is hereby expressly authorized to include in any authorizing resolution or trust indenture all or any part of the following convenants:

(1) that, to the fullest extent possible, State Building Services will continuously operate the Capitol Mall Facility and other buildings and facilities acquired under this act as revenue-producing undertakings, including the maintenance of occupancy and the use of facilities and space so as to avoid any impairment of the security for the bonds; and

(2) that, to the fullest extent possible, State Building Services and the Authority will always charge, impose and collect sufficient rentals and other revenue to meet, as due, all debt service requirements, maintain reserves at proper levels, and otherwise comply with any provisions of authorizing resolutions or trust indentures concerning revenues and bonds.

SECTION 8. Bonds issued under the provisions of this act, and the interest thereon, shall be exempt from all state, county, and municipal taxes, and the exemption shall include income, inheritance, and estate taxes.

SECTION 9. The Authority shall include necessary provisions in the authorizing resolution or trust indenture to provide for the deposit of the proceeds of the bonds pursuant to the provisions of Arkansas Code Annotated § 15-5-209. The Authority may create and establish one or more special funds in such depositories and make such investment as it may designate to provide for the construction, secure the bonds, establish reserves, and fund other necessary functions or activities authorized by the act.

SECTION 10. Refunding Bonds. Bonds may be issued for the purpose of refunding any bonds issued under this act. Refunding bonds may be issued by the Authority pursuant to the provisions of Arkansas Code § 15-5-314.

SECTION 11. No member of the State Building Services Council shall be held personally liable for any act taken by the Council or for any damages sustained by anyone in any contract entered into in carrying out the purposes and intent of this act, unless he (she) shall have acted with a corrupt intent.

SECTION 12. (a) The State Building Services is hereby authorized to supervise and manage the Capitol Mall Facility and the other buildings and facilities acquired pursuant to the authority granted herein and to manage, maintain and repair said buildings and facilities to provide rental space to be made available for the housing of state agencies, departments, boards, commissions and institutions, or other tenants, at such rental rates as deemed necessary:

(i) to provide sufficient funds to enable the Authority to meet, when due, the payment of principal of, interest on, and trustee's and paying agents' fees in connection with all bonds issued under this act;

(ii) to enable the Authority to establish and maintain such reserves, and other financial obligations in regard to the bonds issued under the provisions of this act as shall be set forth in any authorizing resolution or trust indenture utilized for that purpose; and

(iii) in addition thereto, to pay the costs of utilities, insurance, janitorial supplies and services, building maintenance, upkeep, repair, and remodeling as deemed necessary, including the accumulation of reserves deemed necessary for such purposes as authorized under the provisions of this act, and, in connection therewith, the State Building Services may establish one or more accounts in one or more banks authorized to do business in this state to accomplish such purposes.

(b) The State Building Services is hereby authorized to hire legal counsel of its choice to assist in the administration of this act.

SECTION 13. The following provisions shall apply to the Capitol Mall Facility:

(a) The General Assembly recognizes that the State Building Services has in its possession the original architectural drawings and plans for the construction of the Capitol Mall Facility as developed for and in behalf of the Public Building Authority under the authority of Act 236 of 1973, and the State Building Services is hereby authorized to employ architects to review such plans and to prepare such additional plans, specifications and estimates of costs for the construction of the Capitol Mall Facility as defined herein and the various facilities in connection therewith and to supervise and inspect such construction. After the State Building Services shall have approved the plans and specifications reviewed, modified and prepared by the architect, it may proceed to advertise for bids and award a contract for the construction of the facility in accordance with applicable laws governing the construction of public buildings. In addition, the State Building Services is hereby authorized to engage and pay such professional, technical, and other help as it shall determine to be necessary or desirable in assisting it to carry out effectively the authorities, functions, powers, and duties conferred and imposed upon it by this act.

(b) (1) In the event the provisions of this act are implemented, the following-described lands acquired in the name of the State of Arkansas by the Arkansas Revenue Department Building Commission pursuant to the provisions of Act 151 of 1965 and any laws amendatory thereto, shall be transferred by said commission to the State Building Services, to be held in the name of the State of Arkansas, to be used by the State Building Services for the purposes provided in this act, all of said lands being situated in the City of Little Rock, Pulaski County, Arkansas, to wit:

"A tract of land located in the E 1/2 of S4, T1N, R12W of the 5th Principal Meridian, said tract being located within the limits of the State Office Complex for the State Capitol at Little Rock, Pulaski County, Arkansas, as shown on the map titled Boundary Survey, State Office Complex by Edward G. Smith & Associates dated October 30, 1974, more particularly described as follows:

Commencing at the SW corner of Lot 12, Block 345 of Barton's Subdivision; thence S89 deg. 57'-45W 1430.81 feet to a point; thence North 569.68 feet to the point of beginning; thence West 320.0 feet to a point; thence North 115.0 feet to a point; thence East 320.0 feet to a point; thence South 115.0 feet to the point of beginning, said tract containing .8448 acres more or less."

(2) In the event revenue bonds are issued for the purpose of constructing the Capitol Mall Facility, as defined herein, the State Building Services shall have jurisdiction and control over the following lands, which include the lands described in subsection (1) of this subsection, located on the State Capitol Grounds, to wit:

"A tract of land located in the E 1/2 of S4, T1N, R12W of the 5th Principal Meridian, said tract being located within the limits of the State Office Complex for the State Capitol at Little Rock, Pulaski County, Arkansas, as shown on the map titled Boundary Survey State Office Complex by Edward G. Smith & Associates dated October 30, 1974. The tract is more particularly described as follows:

Commencing at the SW corner of Lot 12, Block 345 of Barton's Subdivision; thence S89-57-45W 985.81 feet along the North Boundary of 7th Street to point of beginning; thence continuing S-89-57-45W 445.0 feet to a point; thence North 569.68 feet to a point; thence West 320.0 feet to a point; thence North 115.0 feet to a point; thence East 320.0 feet to a point; thence North 692.27 feet to a point on the South Right-of-Way of the Missouri Pacific RR and the North Boundary of the State Office Complex; thence N54-57E 35.83 feet to a point; thence N88-09E 63.5 feet to a point; thence S 01-56E 18.18 feet to a point; thence North 54-55E 83.29 feet to a point on the South Right-of-Way of West 3rd Street being the North Boundary of the State Office Complex; thence S89-29E 783.47 feet along the South Boundary of 3rd Street to a point; thence S 967.54 feet to a point; thence West 380.0 feet to a point; thence North 200.0 feet to a point; thence West 390.0 feet to a point; thence South 300.0 feet to a point; thence East 270.0 feet to a point; thence South 354.39 feet to the point of beginning, said tract containing 24.04 acres more of less."

(3) The State Building Services, on behalf of the State of Arkansas, is hereby granted an easement or license over the State Capitol, the various buildings on the State Capitol grounds, and the State Capitol grounds, for the purpose of installing or relocating utilities, connecting the Capitol Mall Facility to existing structures, and such other purposes necessary and consistent with the Capitol Mall Facility project, as authorized in this act.

(4) Expenses incurred in utility installation or relocation and those directly associated with the connection of the Capitol Mall Facility to existing structures on the State Capitol grounds, shall be paid as a part of the project cost.

(5) Should it be necessary to relocate the cafeteria now located in the State Capitol Building, to connect the Capitol Mall Facility with the State Capitol Building, the Secretary of State may make necessary arrangements for the cafeteria to be temporarily relocated in the State Capitol Building if the area in the Capitol Mall Facility for the cafeteria is not yet completed for its relocation. The cost of relocation of the cafeteria, if the Secretary of State deems the same to be necessary, shall be defrayed from funds appropriated or provided for the operation and support of the Secretary of State's office.

(6) The State Building Services shall coordinate with the affected agencies and the Secretary of State efforts to relocate state agency occupants of existing structures on the State Capitol grounds during construction, into State-owned facilities if available, and to pay any additional rentals for space used to house such state agencies as a part of the cost of the project for the term of the construction of the project unless funds are otherwise provided by the General Assembly therefor.

(7) The granite boulder placed June 15, 1936, in celebration of the State's centennial, and the bauxite boulder placed March 1943, honoring the State's contribution to the World War II effort, now located on the site of the proposed Capitol Mall Facility, shall be relocated by the State Building Services to such other areas or sites as may be designated by the Secretary of State. Costs of relocating these monuments shall be considered a cost of the project unless funds are otherwise provided for such purposes.

(c) The State Building Services is hereby authorized to:

(1) acquire from the Employment Security Division of the Department of Labor any title and interest in the building it now has or may hereafter acquire, located on the State Capitol grounds, known as the "Employment Security Building", in exchange for which the Employment Security Division may be granted an advance rental payment credit in an amount to be determined by the value of the building, reduce the division's rental payment for occupancy in the Capitol Mall Facility, or,

(2) purchase, on behalf of the State of Arkansas, from the Employment Security Division the building on the State Capitol grounds at a price agreed to by the parties involved. If the building is purchased by the State Building Services, then no relocation costs shall be paid to the Employment Security Division.

As evidence of this transfer, the Director of the Department of Labor is hereby authorized to execute any instrument or conveyance or contract as the Attorney General of the State of Arkansas shall deem necessary.

(d) (1) The State Building Services is hereby authorized to lease additional temporary parking areas near the State Capitol Building during the construction phase of the Capitol Mall Facility project and to provide and operate, if necessary, one or more shuttle buses between such parking areas and the State Capitol grounds. The State Highway and Transportation Department shall assist the State Building Services in ground preparation and surfacing of additional temporary parking spaces as authorized in this act.

(2) Upon completion of the construction phase of the Capitol Mall Facility project, the State Building Services shall develop parking regulations which will maintain equitable parking among the tenants of the Capitol Mall Facility and the public, and may establish reasonable rental or other charges for parking therein. The State Capitol Police shall provide the necessary traffic patrols and policing of the Capitol Mall Facility parking areas.

(3) The State Building Services is hereby authorized to negotiate with any state agency or department now occupying existing structures on the site of the Capitol Mall Facility and to provide for the relocation of the agency or department during the construction of the Capitol Mall Facility, or may provide compensation for the existing structure(s) should acquisition of the structure(s) be necessary in connection with the project. The compensation paid for acquisition of existing structure(s) must be submitted to and approved by the Governor and the same shall constitute a cost of the Capitol Mall Facility project.

(4) The State Building Services, shall, prior to the beginning of the project, develop a proposed master plan of housing state agencies and departments within the facilities of the Capitol Mall project, and shall recommend in such plan the priorities by which space is to be provided for rental by state agencies and departments identified in the plan, and shall submit such plan, together with the recommended schedule of rental payments deemed necessary by the State Building Services to defray the cost of the project on a year-to-year basis, to the Governor for his review and approval, and shall submit a copy thereof to the Legislative Council for its information and review. Upon receipt of such proposed plan the Governor shall review the same and may make such changes therein, including the priorities in providing space for state agencies and departments, as he deems appropriate, and shall endorse his approval thereon.

It is the intent of this subsection that the Governor shall determine the needs and priorities for locating or relocating state agencies and departments into space in the Capitol Mall project facilities. After the proposed plan is approved by the Governor, the State Building Services shall confer from time to time with the Governor in connection with priorities in the location or relocation of state agencies and departments in said Facility.

(e) In furtherance of the construction of the Capitol Mall Facility as authorized in subsection (a) of Section 3, State Building Services is authorized to enter into agreements with the respective Boards of Trustees of the Arkansas Teacher Retirement System, the Arkansas Public Employees Retirement System, and the Arkansas State Police Retirement System for the construction of a building which shall be a portion of the building identified as Building No. 1 contained in the "Facilities -- Master Plan -- Year 1985" on page 79 of the Arkansas State Capitol Complex Master Plan as defined in subsection (c) of Section 2, deemed adequate for the office space needs of their respective retirement systems for current and anticipated future expansion, provided that:

(1) such facilities shall be constructed by the State Building Services in accordance with a contract entered into by the State Building Services Council and the Boards of Trustees of the respective retirement systems setting forth the square footage of space to be allocated to and owned by the respective retirement systems upon completion of this project, with the cost thereof to be defrayed by each of the retirement systems in such manner and under such terms and conditions as may be agreed to by the respective retirement systems and the State Building Services Council;

(2) the agreement provides that the facilities shall, during construction and upon completion thereof, be managed by State Building Services in accordance with the provisions of section 22-2-101 and subsequent sections of the Arkansas Code;

(3) to manage and rent any surplus space that each of the retirement systems may designate for lease to other state agencies under such terms and conditions, and for such duration, that may be agreed to by the respective retirement systems and State Building Services, with all rental income over and above management costs defrayed by State Building Services to be remitted to the respective retirement systems as income to each of the respective systems.

(4) such respective retirement systems may utilize funds available to them for investment purposes for payment to the State Building Services for the cost of construction of the facilities authorized in this subsection, in which event the construction cost of the facilities acquired for the respective retirement systems may be amortized in accordance with the amortization plan for funding their retirement systems, but in no event extending over a period exceeding forty (40) years. The respective retirement systems shall enter into agreements with State Building Services to pay all costs of maintenance, janitorial, and other services as operating expenses for the use of the facilities assigned to the respective retirement systems.

SECTION 14. From and after the effective date of this act, no new buildings or facilities to provide office space for State Agencies shall be constructed on the State Capitol grounds unless the same are part of and in conformance with the Capitol Mall Facilities -- Master Plan -- Year 1985 on page 79 of the Arkansas State Capitol Complex Master Plan as prepared under the direction of the Arkansas Public Building Authority authorized by Act 236 of 1973, dated June 1974, or as contained in such plan as expanded in the Proposed Facilities Master Plan -- Year 2000 on page 80 of said Arkansas State Capitol Complex Master Plan. Nothing in this act shall restrict or prohibit the construction of surface parking or parking decks on the State Capitol grounds, provided that parking facilities shall be constructed in areas now utilized as parking or designated as parking on the Arkansas State Capitol Complex Master Plan -- Year 1985 or in accordance with the Facilities Master Plan -- Year 2000 as prepared by the Arkansas Public Building Authority.

SECTION 15. This act shall not create any right in any bondholder for bonds issued pursuant to this act, and no right of such bondholder shall arise under it, until bonds authorized by this act (of the initial issue or series) shall have been sold and delivered by the Authority.

SECTION 16. This act shall be construed liberally. The enumeration of any object, purpose, power, manner, method, and thing shall not be deemed to exclude like or similar objects, purposes, powers, manners, methods, and things.

SECTION 17. All provisions of this act of a general and permanent nature are amendatory to the Arkansas Code of 1987 Annotated and the Arkansas Code Revision Commission shall incorporate the same in the Code.

SECTION 18. If any provision of this act or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of the act which can be given effect without the invalid provision or application, and to this end the provisions of this act are declared to be severable.

SECTION 19. All laws and parts of laws in conflict with this act are hereby repealed. APPROVED: February 25, 1991.