(a) This subchapter shall be liberally construed to accomplish its purposes. This subchapter shall constitute the sole authority necessary to accomplish the purposes of this subchapter, and the provisions of other laws pertaining to the development of technology projects and facility improvement projects and the financing shall not apply, except as specifically set forth in this subchapter.
(b) This subchapter shall supplement existing laws conferring rights and powers upon the Arkansas Development Finance Authority and the Arkansas Higher Education Coordinating Board, and the rights and powers set forth in this subchapter shall be alternative methods for the accomplishment of the purposes of this subchapter.