Ark. Code Ann. § 14-188-119

Any two (2) or more rural development authorities, created by or pursuant to the provisions of this chapter, may join or cooperate with one another in the exercise, either jointly or otherwise, of any or all their powers for the purpose of financing, including the issuance of bonds, notes, or other evidence of indebtedness and giving security for them, planning, undertaking, constructing, operating, or contracting with respect to development projects located within the area of operation of any one (1) or more of the authorities.