(a) All revenues of the bridge or ferry not required under the provisions of this chapter to be paid into the sinking fund provided in the resolution authorizing the issuance of bonds shall be paid into an operation and maintenance fund and be used by the State Highway Commission in the operation and maintenance of the bridge or ferry.
(b) However, all moneys in any operation and maintenance fund in excess of an amount deemed by the commission sufficient for operation and maintenance for an ensuing period of not less than twelve (12) months shall be paid into the sinking fund.
Structure Arkansas Code
Subtitle 6 - Bridges And Ferries
Chapter 88 - Bonds For Construction And Operation
§ 27-88-101. Liberal construction
§ 27-88-103. Scope of authority
§ 27-88-104. Authority to issue bonds — Use of funds
§ 27-88-106. Redemption before maturity
§ 27-88-109. No right arises until issuance and sale
§ 27-88-110. Investment of proceeds from sale
§ 27-88-111. Temporary notes or bonds
§ 27-88-112. Notes and bonds as negotiable instruments
§ 27-88-114. Sinking fund for payment of bonds
§ 27-88-115. Operation and maintenance fund
§ 27-88-116. Tolls, rates, and fees
§ 27-88-117. Bonds payable solely from bridge or ferry revenues
§ 27-88-118. Additional bond issues — Equality
§ 27-88-119. Contracts with United States or other states