Ark. Code Ann. § 14-186-303

Any municipality owning a port, harbor, or related facilities is authorized and empowered to acquire, construct, equip, operate, sell, lease, contract concerning, and otherwise deal in and with lands, buildings, structures, and other improvements and facilities, of whatever nature and wherever located, connected with, or incidental to or related to the operation or management of the port, harbor, or related facilities, or such facilities that may be necessary or useful in the securing and developing of industry, which may be collectively referred to in this subchapter as “port authority facilities.”