(a) The revenues obtained by a municipality from the ownership, control, or operation of any airport or air navigation facility, including proceeds from the sale of any airport or portion thereof or air navigation facility property, shall be deposited in a special fund to be called the “ Airport Fund.”
(b) The revenues shall be appropriated solely to, and used by the municipality for, the purposes authorized by this chapter.
Structure Arkansas Code
Subtitle 22 - Airport Facilities Generally
Chapter 361 - Airports In Border Municipalities
§ 14-361-104. Powers of municipalities generally
§ 14-361-105. Supplementary powers
§ 14-361-106. Functions — Public and governmental
§ 14-361-107. Operation and use privileges
§ 14-361-109. Disposal of property
§ 14-361-110. Delegation of authority
§ 14-361-111. Jurisdiction and regulation
§ 14-361-114. Issuance of bonds
§ 14-361-115. Validation of prior actions
§ 14-361-116. Disposition of revenues
§ 14-361-117. Federal and state aid
§ 14-361-118. Joint operations — Authorization
§ 14-361-119. Joint operations — Agreements
§ 14-361-120. Joint operations — Joint boards
§ 14-361-121. Joint operations — Limitations on joint boards
§ 14-361-122. Joint operations — Joint fund