Statutes > Arkansas Statutes > Title 14 - Local Government > Subtitle 8 - Public Facilities Generally > Chapter 144 - Research Park Authority Act > Subchapter 3 - Finance > § 14-144-316 - Lease of facilities.

§ 14-144-316 - Lease of facilities.

14-144-316. Lease of facilities.

(a) Each research park authority may lease its research park facilities and all or any part of its appurtenances and facilities to any available lessee at a rental and upon such terms and conditions as the authority deems proper.

(b) Leases shall be for some purpose associated with research or economic development activities that serve to build the local, regional, and state economies.