15-5-201. Creation of authority.

There is created, with such duties and powers as are hereinafter set forth to carry out the provisions of this subchapter and 15-5-101 -- 15-5-106 and 15-5-301 -- 15-5-316, a public body politic and corporate, with corporate succession, to be an independent instrumentality exercising essential public functions, and to be known as the "Arkansas Development Finance Authority".