The Chairman of the State Highway Commission of the State of Arkansas, acting on behalf of this state, is authorized to execute a compact, to be known as the “Arkansas-Mississippi Great River Bridge Construction Compact,” in substantially the following form, with the State of Mississippi, and the General Assembly signifies in advance its approval and ratification of such compact, to wit:
ARKANSAS-MISSISSIPPI GREAT RIVER BRIDGE CONSTRUCTION COMPACT
ARTICLE IThe purpose of this Compact is to promote the construction of a highway bridge or a combined highway-railroad bridge connecting the States of Mississippi and Arkansas at or near Rosedale, Mississippi; and McGehee and Dumas, Arkansas, and to establish a joint interstate authority to assist in these efforts.
ARTICLE IIThis Compact shall become effective immediately as to the States ratifying it whenever the States of Arkansas and Mississippi have ratified it and Congress has given consent thereto.
ARTICLE III ARTICLE IVThe authority shall appoint a secretary, who shall be a person familiar with the nature, procedures, and significance of the bridge construction and the informational, educational, and publicity methods of stimulating general interest in such developments, and who shall be the compact administrator. The term of office of the secretary shall be at the pleasure of the authority and such officer shall receive such compensation as the authority shall prescribe. The secretary shall maintain custody of the authority's books, records, and papers, which shall be kept by the secretary at the office of the authority, and shall perform all functions and duties and exercise all powers and authorities which may be delegated to the secretary of the authority.
ARTICLE VEach party state agrees that its legislature may, in its discretion, from time to time make available and pay over to the authority funds for the establishment and operation of the authority. The contribution of each party state will be in equal amounts.
ARTICLE VINothing in this compact shall be construed so as to conflict with any existing statute, or to limit the powers of any party state, or to repeal or prevent legislation, or to authorize or permit curtailment or diminution of any other bridge project, or to affect any existing or future cooperative arrangement or relationship between any federal agency and a party state.
ARTICLE VIIThis compact shall continue in force and remain binding upon each party state until the legislature or governor of each or either state takes into action to withdraw therefrom; provided that such withdrawal shall not become effective until six (6) months after the date of the action taken by the legislature or governor. Notice of such action shall be given to the other party state or states by the secretary of state of the party state which takes such action.