(a)
(1) This subchapter shall be liberally construed to accomplish its intent and purposes and shall be the sole authority required for the accomplishment of its purposes, and to this end it shall not be necessary to comply with the provisions of other laws relating to the issuance and sale of the bonds authorized by this subchapter.
(2) This subchapter shall be construed as an additional and alternative method for the issuance and sale of bonds.
(b) An authority shall not be subject to Arkansas Public Service Commission regulatory authority.