(1) The power of eminent domain is expressly conferred upon authorities, created pursuant to the provisions of this chapter.
(2) In the event that any lands, or interest therein, determined by an authority to be necessary for any tollway project cannot be acquired by negotiation, the authority involved is empowered to institute condemnation proceedings for the acquisition of the lands, or the interest therein, desired by it.
(3) The condemnation proceedings under the power of eminent domain may be exercised in the manner now provided for taking private property for rights-of-way for railroads as provided by §§ 18-15-1202 — 18-15-1207, as amended, or in the manner provided by §§ 18-15-301 — 18-15-307, as amended, or pursuant to any other statutory provisions now in force or hereafter enacted for the exercise of the power of eminent domain by the State of Arkansas, or by any of its officers, agencies, or departments, or by political subdivisions of the State of Arkansas.
(4) Title to, and all interest in, lands acquired by an authority, by purchase or by condemnation, shall be taken in the name of the authority involved.