2019 Arkansas Code
Title 27 - Transportation
Subtitle 5 - Highways, Roads, and Streets
Chapter 76 - Regional Mobility Authority Act
Subchapter 6 - Financing and Bonds
§ 27-76-601. Financing Generally
(a) A regional mobility authority may be financed or supported by receiving the following:
(1) If requested and adopted, revenue from the levy by a member county of a sales tax under § 26-74-201 et seq., § 26-74-301 et seq., and § 26-74-401 et seq. for the benefit of the regional mobility authority;
(2) If requested and adopted, revenue from the levy by a member city of a sales tax under § 26-75-201 et seq. and § 26-75-301 et seq. for the benefit of the regional mobility authority;
(3) Revenue from a motor vehicle tax imposed by a county that is a member of a regional mobility authority under § 26-78-101 et seq.;
(A) If authorized by law, requested, and adopted, revenue from the levy of an additional sales and use tax for the benefit of a regional mobility authority by a county or city not to exceed one-half of one percent (0.5%).
(B) A sales and use tax levied as described in this subdivision (a)(4) is in addition to any taxes levied under subdivisions (a)(1)-(3) of this section;
(5) Proceeds from tolls from toll facility projects owned by the regional mobility authority;
(6) Proceeds from charges and rates imposed on surface transportation systems owned by the regional mobility authority that are not toll facility projects;
(7) Proceeds from the sale of bonds;
(8) State turnback funds received from counties that are members of the regional mobility authority and cities that are within the boundaries of a regional mobility authority, under §§ 27-70-206 and 27-70-207;
(9) Other state funding that is appropriated; or
(10) Other funds from a state agency.
(b) Taxes and tolls imposed under subdivisions (a)(1)-(5) of this section shall be approved by voters pursuant to all applicable election laws.
(1) A regional mobility authority shall not use revenue from a transportation project in a manner that is not authorized by this chapter or other law.
(2) Except as provided by this chapter, revenue derived from a transportation project shall not be applied for a purpose or to pay a cost other than a cost or purpose that is reasonably related to or anticipated to be for the benefit of a transportation project.