Browse Arkansas Code titles and sections
12-27-122. Debt service accounts.
Arkansas Code — all titles (historical 2020) · legal_authorities
12-27-122. Debt service accounts.
(a)(1) The Division of Correction may establish accounts in financial institutions other than the State Treasury for the purpose of making debt service payments on bonds issued, or leases, or both, through the Arkansas Development Finance Authority and as otherwise authorized by law.
(2) The accounts shall be entitled the “Construction Fund Deficiency Account”, the “Prisoner Housing Contract Account”, and the “Regional Facilities Operations Account”.
(3) Receipts into the Construction Fund Deficiency Account, the Prisoner Housing Contract Account, and the Regional Facilities Operations Account shall be from transfers from the work-release cash funds, payments to the division for housing county and city prisoners in regional facilities, and such other sources as required.
(b) Payments made by the division from the work-release cash funds, Construction Fund Deficiency Account, Prisoner Housing Contract Account, and the Regional Facilities Operations Account which are made for bonded indebtedness or leases of regional correction facilities, or both, are specifically exempt from §§ 19-4-801 — 19-4-803, 19-4-805, and 19-4-806.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 12-27-122
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:12-27-122
Source file: gov.ar.code.title.12.odt
Pages: Not recorded – Not recorded
Passage SHA-256: fc1aade3205d8ebfbb342285e198e265bc761e16327355dc34afd8b4b13a1bd3
Source location: content.xml paragraph 12263
Stored source content
12-27-122. Debt service accounts.
(a)(1) The Division of Correction may establish accounts in financial institutions other than the State Treasury for the purpose of making debt service payments on bonds issued, or leases, or both, through the Arkansas Development Finance Authority and as otherwise authorized by law.
(2) The accounts shall be entitled the “Construction Fund Deficiency Account”, the “Prisoner Housing Contract Account”, and the “Regional Facilities Operations Account”.
(3) Receipts into the Construction Fund Deficiency Account, the Prisoner Housing Contract Account, and the Regional Facilities Operations Account shall be from transfers from the work-release cash funds, payments to the division for housing county and city prisoners in regional facilities, and such other sources as required.
(b) Payments made by the division from the work-release cash funds, Construction Fund Deficiency Account, Prisoner Housing Contract Account, and the Regional Facilities Operations Account which are made for bonded indebtedness or leases of regional correction facilities, or both, are specifically exempt from §§ 19-4-801 — 19-4-803, 19-4-805, and 19-4-806.
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Arkansas Code — all titles (historical 2020) · legal_authorities
19-4-801. Definitions.
As used in this subchapter:
(1) “Cash funds” means all moneys, negotiable instruments, certificates of indebtedness, stocks, and bonds held by or owned by any state agency which are not on deposit with or in the trust of the Treasurer of State; and
(2)(A) “State agency” means all boards, commissions, departments, agencies, institutions, offices or officers, state-supported institutions of higher education, and any other office or unit of government of the State of Arkansas created or established pursuant to law or pursuant to any action of the Governor, functioning under appropriation made by the General Assembly or functioning as a representative of the state without appropriation of the General Assembly.
(B) “State agency” shall not include the:
(i) Governor;
(ii) Secretary of State;
(iii) Attorney General;
(iv) Treasurer of State;
(v) Auditor of State;
(vi) Commissioner of State Lands;
(vii) Supreme Court and its justices;
(viii) Circuit courts and circuit judges;
(ix) Prosecuting attorneys;
(x) Arkansas State Game and Fish Commission;
(xi) Arkansas Department of Transportation;
(xii)(a) Office of the Arkansas Lottery.
(b) However, the office shall be considered a state agency for the purposes of § 19-4-810 et seq.;
(xiii) General Assembly; and
(xiv) Respective staffs of the officers and agencies listed in this subdivision (2)(B).
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-4-801
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 19-4-801. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
19-4-803. Exemptions.
(a) The following are exempt from this subchapter:
(1) Funds required by the terms of a bond indenture to be held by paying agents for the payment of interest and principal on such bonds;
(2) Petty cash funds held by the various state agencies;
(3) Memorials, endowments, bequests, gifts, and donations made to any state agency other than for normal operation of the agency;
(4) Canteen funds of state agencies other than institutions of higher education, wherein the profits earned are used for the benefit of the people served by that agency through the purchase of services or goods other than normal salary or maintenance expenses of the agency;
(5) The Benefit Fund of the Division of Workforce Services;
(6) The Revenue Bond Guaranty Reserve Account of the Arkansas Economic Development Council;
(7) The Illegal Drug Purchase Account and the Confidential Accounts of the Division of Arkansas State Police;
(8) Patient funds, when the institution is acting in a trust capacity or when the funds are utilized for patient activities other than normal agency-provided services;
(9) The State Treasury Money Management Trust; and
(10) Any other funds determined by the Chief Fiscal Officer of the State or the General Assembly, to be held in trust and on deposit in a financial institution other than the State Treasury.
(b) The Division of Correction Plasma Center is exempt from provisions of this subchapter.
(c) The Arkansas Comprehensive Health Insurance Pool, created under the Comprehensive Health Insurance Pool Act, § 23-79-501 et seq., and its board of directors, and the Arkansas Property and Casualty Insurance Guaranty Fund and its advisory association, referenced under the Arkansas Property and Casualty Insurance Guaranty Act, § 23-90-
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-4-803
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 19-4-803. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
19-4-805. Investment of fund balances.
(a) The state-supported institutions of higher education shall have the right to determine the depositories and the nature of investments of any of their cash funds which are not currently needed for operating purposes. In making these determinations, these institutions shall seek to obtain the highest possible rate of return for their investments.
(b) All cash fund agencies other than the state-supported institutions of higher education shall request and abide by the recommendations of the State Board of Finance as to the best investment decisions for any idle cash balances.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-4-805
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 19-4-805. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
19-4-806. Petty cash accounts.
(a) State agencies operating under the provisions of this subchapter are authorized to establish petty cash accounts. These accounts must be approved by the Chief Fiscal Officer of the State and only minor expenditures or emergency purchases shall be made therefrom.
(b) State-supported institutions of higher education and other agencies that can demonstrate the need for large petty cash accounts during brief periods of time, such as student registration periods, are authorized short-term petty cash accounts.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-4-806
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 19-4-806. This identifies an authority to review, not proof of applicability.