(a) The incorporated town or city council granting financial aid shall do so by resolution which shall fix the amount and time of the payments.
(b) The resolution shall be effective for the period of twelve (12) months.
(c) The payments shall not exceed the annual revenue from which the funds are paid.
Structure Arkansas Code
Subtitle 3 - Municipal Government
Chapter 58 - Fiscal Affairs of Cities and Incorporated Towns
Subchapter 5 - Financial Aid to School Districts
§ 14-58-501. Authority generally
§ 14-58-502. Funds from which payable
§ 14-58-503. Terms of assistance
§ 14-58-504. Financial aid to state colleges and universities