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2020 Arkansas Code
Title 19 - Public Finance
Chapter 5 - Revenue Stabilization Law
Subchapter 11 - Trust Funds Continued
§ 19-5-1130. Economic Development Superprojects Project Fund
Universal Citation:
AR Code § 19-5-1130 (2020)
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(a) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a trust fund to be known as the “Economic Development Superprojects Project Fund”.
(b) The fund may consist of the proceeds from the sale of bonds, together with all revenues derived by the Arkansas Development Finance Authority from any superproject financed or refinanced under § 15-4-3012 or may consist of other funds authorized by law.
(c) The fund may be used to provide for payment of all or a part of debt service on bonds and to directly fund superprojects on a pay-as-you-go basis as set out in § 15-4-3012 or to fund projects authorized under Arkansas Constitution, Amendment 82.
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