(1) The Arkansas Development Finance Authority, when requested to do so by a state agency or a political subdivision, is authorized and empowered to engage an underwriter or underwriters to facilitate the issuance and sale of bonds to accomplish the financing of a specific activity or a particular project of the state agency or political subdivision permitted to be financed hereunder, or other activities and projects for which no state agency or political subdivision is authorized by law to obtain such financing, which the authority determines to be consistent with the purposes of this subchapter and §§ 15-5-101 — 15-5-106, 15-5-201 — 15-5-211, and 15-5-213.
(2) In the furtherance thereof, the authority is also authorized and empowered to engage in connection therewith such legal counsel and other experts as may be recommended by the underwriter or underwriters.