(a) Any balance of money remaining in municipal improvement districts which have no further indebtedness, and which have been dissolved for three (3) years or more, shall revert to the municipal corporation and may be used for legitimate corporate purpose.
(b) This section shall apply only to municipal corporations whose population according to the latest federal census was not less than two thousand three hundred seventy-five (2,375) and not more than two thousand four hundred (2,400) persons.
Structure Arkansas Code
Subtitle 5 - Improvement Districts Generally
Chapter 89 - Fiscal Affairs of Municipal Improvement Districts
§ 14-89-1301. Special improvement districts receiving state aid
§ 14-89-1302. Street improvement districts
§ 14-89-1303. Sewer improvement districts
§ 14-89-1304. Airport improvement district in city of the first class