(a) The Arkansas Department of Transportation shall distribute the first five hundred twenty-five thousand dollars ($525,000) of interest income received under § 27-70-204 each year from the State Highway and Transportation Department Fund. The moneys shall be:
(1) Equally distributed to each authority;
(2) Deposited into a bank as the authority may direct under § 14-143-124(a)(1); and
(3) Used for the purposes and the implementation of the powers authorized under this chapter.
(b) Moneys remaining in the bank designated by the authority under subdivision (a)(2) of this section shall carry forward and be made available for the purposes stated in subdivision (a)(3) of this section in the next fiscal year.
Structure Arkansas Code
Subtitle 8 - Public Facilities Generally
Chapter 143 - Regional Intermodal Facilities Act
§ 14-143-103. Establishment of authorities
§ 14-143-104. Authority as public corporation
§ 14-143-105. Appointment of board
§ 14-143-106. Vacancy on board
§ 14-143-107. Compensation prohibited — Reimbursement of expenses
§ 14-143-108. Facilities authorized
§ 14-143-109. Powers of authority generally
§ 14-143-110. Issuance of revenue bonds — Authorization
§ 14-143-111. Issuance of revenue bonds — Resolution of authority — Nature of bonds
§ 14-143-112. Issuance of revenue bonds — Indenture
§ 14-143-113. Issuance of revenue bonds — Price and manner sold
§ 14-143-114. Issuance of revenue bonds — Execution
§ 14-143-115. Issuance of revenue bonds — Obligation of authority
§ 14-143-116. Issuance of revenue bonds — Refunding bonds
§ 14-143-117. Issuance of revenue bonds — Mortgage lien
§ 14-143-118. Issuance of revenue bonds — Default
§ 14-143-119. Agreements to obtain funds
§ 14-143-120. Acquisition of property
§ 14-143-121. Exemption from taxation
§ 14-143-122. Use of surplus funds
§ 14-143-123. Public and private contributions
§ 14-143-124. Accounts and reports
§ 14-143-125. County, municipal, and state authority
§ 14-143-126. Lease of facilities