(a) Incorporated towns and cities of the first or second class, pursuant to an ordinance properly and lawfully adopted by their governing bodies, are empowered and authorized to annually grant financial aid to any public postsecondary educational institution located within their borders for the purpose of assisting the institution in paying its lawful expenses of operation.
(b) The ordinance shall be effective for a period of twelve (12) months.
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