(a) Moneys received in the special fund of the district in excess of amounts needed to pay project costs may be used only by the local governing body for the redemption of outstanding bonds, notes, or other evidences of indebtedness issued by the redevelopment district or for distribution to any taxing unit in such amounts as may be determined by the local governing body.
(b) Upon termination of the district, all amounts in the special fund of the district may be used by the local governing body for any lawful purpose.
Structure Arkansas Code
Subtitle 10 - Economic Development And Tourism Generally
Chapter 168 - Community Redevelopment Generally
Subchapter 3 - Community Redevelopment — Creation and Procedures
§ 14-168-303. Powers supplemental
§ 14-168-304. Powers generally
§ 14-168-305. Creation of district
§ 14-168-306. Project plan — Approval
§ 14-168-307. Project plan — Amendment
§ 14-168-308. Termination of districts
§ 14-168-309. Costs of formation
§ 14-168-310. Overlapping districts
§ 14-168-311. Valuation of real property
§ 14-168-312. Division of ad valorem real property tax revenue
§ 14-168-313. Payments in lieu of taxes and other revenues
§ 14-168-315. Redevelopment bonds or notes — Authority to issue
§ 14-168-316. Redevelopment bonds or notes — Authorizing resolution
§ 14-168-317. Redevelopment bonds or notes — Terms, conditions, etc
§ 14-168-318. Redevelopment bonds or notes — Security — Marketability
§ 14-168-319. Redevelopment bonds or notes — Special fund for repayment
§ 14-168-320. Redevelopment bonds or notes — Tax exemption
§ 14-168-323. Value of assessed property in a redevelopment district