(A) The Board is empowered from time to time to own, acquire, construct, reconstruct, extend, equip, improve, sell, lease, contract concerning or otherwise dispose of health care facilities (including specifically the proposed improvements as hereinbefore defined); provided, however, that the authority of the Board shall be limited to such health care facilities as are sold or leased to the Clinic or are otherwise disposed of pursuant to a contract, or contracts, between the Board and the Clinic.
(B) The Board is authorized to issue revenue bonds from time to time and to use the proceeds, either alone or together with other available funds and revenues, to accomplish the proposed improvements and such other facilities, improvements, extensions, and betterments as from time to time may be necessary. Such revenue bonds shall be obligations only of the Board and shall not constitute an indebtedness for which the faith and credit of the county or any of its revenues are pledged, and the principal of and interest on the bonds shall be payable from and secured by a pledge of revenues derived from the proposed improvements and/or facilities financed, in whole or in part, from bond proceeds and as authorized by, and in accordance with, the provisions of A.C. §§ 14-137-101 et seq.
(C) The Board shall have all of the powers provided for in A.C. §§ 14-137-101 et seq., subject to the limitations of this subchapter, and shall carry out its duties in accordance with A.C. §§ 14-137-101 et seq., including specifically, without limitation, the filing of the annual report required by A.C. § 14-137-123. The Board shall take all appropriate action necessary to comply with the Constitution and laws of the United States of America and of the State of Arkansas.
(Ord. 1980-5, passed 7-14-80; Am. Ord. 1981-13, passed 12-14-81)
Cross-reference:
Ord. 1986-6, passed 6-19-86 (T.S.O. II)