Harvest weight-limit rule gets panel's OK
The state Highway Commission on Wednesday approved an emergency rule exempting weight limits for certain haulers of agriculture products on select state highways during harvest this fall. The rule now goes to the executive subcommittee of the Arkansas Legislative Council.
Rep. Dan Douglas, R-Bentonville, chairman of the House Agriculture, Forestry and Economic Development Committee, asked for the emergency rule because the exemption might not be available this fall if Act 1085 of 2017 went through the normal process for new rules and regulations.
Approved by the House and Senate, Act 1085 sets a weight limit of 100,000 pounds for haulers of most Arkansas agricultural products. The weight limit on Arkansas highways and bridges generally is 80,000 pounds. Timber and forestry products aren't exempted in Act 1085.
Routes for the exemptions will be determined by Arkansas Department of Transportation officials and will be limited to roads between fields and the "first point of processing." Interstate highways can't be used under the exemption.
-- Stephen Steed
Bank plans to build on Fayetteville site
First National Bank of NWA has purchased land in Fayetteville where it will build its first permanent bank in the city.
The 0.7 acre lot on North Steel Boulevard is near JJ's Beer Garden and Brewing Co. The property was purchased by First National Bank of Fort Smith, First National Bank of NWA's parent company, on July 2 for $550,000, according to county records. The seller was Bentonville-based Famjet LLC.
Construction is expected to begin during the first quarter of 2019. First National Bank of NWA currently leases a temporary location on Joyce Boulevard and has operated there since 2015, according to a Wednesday news release.
In addition to the Fayetteville branch, First National Bank of NWA has two locations in Rogers and branches in Lowell, Centerton and Bentonville. First National Bank of Fort Smith also has 13 locations in the River Valley region.
-- John Magsam
State index follows broad market lower
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, fell 4.70 to 442.93 Wednesday.
All of the major indexes retreated.
"Equities reacted poorly to the announcement of additional Chinese tariffs and sold off through the day as the energy and materials sectors were the worst performers," said Leon Lants, managing director at Stephens Inc. in Little Rock.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 07/12/2018