SB545

Senate Bill 545 expands the authority of the boards of trustees for several Arkansas public universities regarding property, finance, and bond issuance. The bill authorizes these institutions to acquire, lease, and equip a broader range of tangible and intangible properties, including infrastructure and technologies. It adds revenues derived from institutional operations—excluding tax-derived funds—as a source for issuing negotiable interest-bearing notes or bonds. Additionally, the bill updates the authority of boards of trustees to set and enforce rules regarding rents, fees, tolls, and gate receipts for athletic contests and various university facilities. The legislation aims to provide state institutions with more flexibility in managing their property, infrastructure investments, and financial operations.