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12-41-806. Matching requirements.
Arkansas Code — all titles (historical 2020) · legal_authorities
12-41-806. Matching requirements.
(a)(1) Grant and loan funds shall only be awarded under this subchapter upon submission of evidence of the ability to provide an amount of local public or private dollars, or both, equal to or greater than one-third (1/3) of the state's capital grant contribution to any project.
(2) In no event shall the state capital grant contribution to any project authorized under this subchapter exceed the sum of one hundred fifty thousand dollars ($150,000).
(b) Any revolving loan funds utilized in meeting the total cost of any project authorized under this subchapter shall be interest free and shall have terms not to exceed ten (10) years.
(c) Any award of funds under this section shall be subject to review and approval by the Division of Youth Services, which shall promulgate rules to effectuate the provisions of this section.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 12-41-806
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. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:12-41-806
Source file: gov.ar.code.title.12.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 6c9d066a6720b8ebda64224e88ce00ec575c5fc8b43a7ab9c772c9789beda4a6
Source location: content.xml paragraph 15594
Stored source content
12-41-806. Matching requirements.
(a)(1) Grant and loan funds shall only be awarded under this subchapter upon submission of evidence of the ability to provide an amount of local public or private dollars, or both, equal to or greater than one-third (1/3) of the state's capital grant contribution to any project.
(2) In no event shall the state capital grant contribution to any project authorized under this subchapter exceed the sum of one hundred fifty thousand dollars ($150,000).
(b) Any revolving loan funds utilized in meeting the total cost of any project authorized under this subchapter shall be interest free and shall have terms not to exceed ten (10) years.
(c) Any award of funds under this section shall be subject to review and approval by the Division of Youth Services, which shall promulgate rules to effectuate the provisions of this section.
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