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12-8-307. Lease fund — Pledged revenues.
Arkansas Code — all titles (historical 2020) · legal_authorities
12-8-307. Lease fund — Pledged revenues.
(a)(1) The lease payments and other costs relating to the communications equipment shall be secured solely by a lien on and pledge of all revenues derived from the following fees and charges fixed and imposed by § 27-16-801, or pursuant to any subsequent similar laws, which are confirmed, ratified, fixed, and imposed, and which are as follows:
(A) An operator's or a motorcycle driver's license for two (2) years — six dollars ($6.00);
(B) A chauffeur's license for two (2) years — ten dollars ($10.00);
(C) A motor scooter license for not more than two (2) years — two dollars ($2.00);
(D) An operator's license or a motorcycle driver's license for four (4) years — twelve dollars ($12.00); and
(E) A chauffeur's license for four (4) years — twenty dollars ($20.00).
(2) The pledging of such revenues, collectively the “pledged revenues”, is authorized.
(b) On the first day of the month next succeeding the execution of any leasing agreement authorized by this subchapter, all pledged revenues are specifically declared to be cash funds restricted in their use and dedicated to be used solely as authorized in this subchapter.
(c)(1) On the first day of the month next succeeding the execution of the lease authorized by this subchapter and so long as lease payments remain to be paid, the pledged revenues shall not be deposited into the State Treasury and shall not be subject to legislative appropriation.
(2) The pledged revenues shall be deposited into a bank or banks selected by the Division of Arkansas State Police, as and when received by the Commissioner of Motor Vehicles, the Office of Motor Vehicle, the Division of Arkansas State Police, the Arkansas State Police Commission, the Secretary of the Department of Finance a
Source: Arkansas Code — historical release 78 (November 6, 2020) · 12-8-307
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:12-8-307
Source file: gov.ar.code.title.12.odt
Pages: Not recorded – Not recorded
Passage SHA-256: e601acda87a0a49add92cee4ce1730ffdd0cdbc2f5f23d96c481942c51a1df4f
Source location: content.xml paragraph 1033
Stored source content
12-8-307. Lease fund — Pledged revenues.
(a)(1) The lease payments and other costs relating to the communications equipment shall be secured solely by a lien on and pledge of all revenues derived from the following fees and charges fixed and imposed by § 27-16-801, or pursuant to any subsequent similar laws, which are confirmed, ratified, fixed, and imposed, and which are as follows:
(A) An operator's or a motorcycle driver's license for two (2) years — six dollars ($6.00);
(B) A chauffeur's license for two (2) years — ten dollars ($10.00);
(C) A motor scooter license for not more than two (2) years — two dollars ($2.00);
(D) An operator's license or a motorcycle driver's license for four (4) years — twelve dollars ($12.00); and
(E) A chauffeur's license for four (4) years — twenty dollars ($20.00).
(2) The pledging of such revenues, collectively the “pledged revenues”, is authorized.
(b) On the first day of the month next succeeding the execution of any leasing agreement authorized by this subchapter, all pledged revenues are specifically declared to be cash funds restricted in their use and dedicated to be used solely as authorized in this subchapter.
(c)(1) On the first day of the month next succeeding the execution of the lease authorized by this subchapter and so long as lease payments remain to be paid, the pledged revenues shall not be deposited into the State Treasury and shall not be subject to legislative appropriation.
(2) The pledged revenues shall be deposited into a bank or banks selected by the Division of Arkansas State Police, as and when received by the Commissioner of Motor Vehicles, the Office of Motor Vehicle, the Division of Arkansas State Police, the Arkansas State Police Commission, the Secretary of the Department of Finance and Administration, or any other state agency.
(3) The pledged revenues shall be deposited to the credit of a fund created and designated as the “Division of Arkansas State Police Communications Equipment Lease Fund”, referred to in this subchapter as the lease fund.
(d) So long as there are remaining any lease payments to be made, the General Assembly may eliminate or change the driver's license fees referred to as pledged revenues within this section, under § 27-16-801, or any subsequent similar law, but only on condition that there is always maintained in effect and made available for the payment of lease payments sources of revenue which produce revenues at least sufficient in amount to provide for the payment when due of the lease payments.
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Arkansas Code — all titles (historical 2020) · legal_authorities
27-16-801. Licenses generally — Validity periods — Contents — Fees — Disposition of moneys — Definitions.
(a)(1)(A) In a manner prescribed by the Secretary of the Department of Finance and Administration, the Office of Driver Services shall issue:
(i) Except as provided in subdivision (a)(1)(B) of this section, a Class D license or a Class M license to each qualified applicant eighteen (18) or more years of age, for a period of eight (8) years, upon payment of twenty-four dollars ($24.00);
(ii) An intermediate Class D license or an intermediate Class M license to each applicant between sixteen (16) and eighteen (18) years of age, for a period of up to two (2) years, upon payment of twelve dollars ($12.00);
(iii) A learner's Class D license to each applicant between fourteen (14) and sixteen (16) years of age, for a period of up to two (2) years, upon payment of twelve dollars ($12.00); and
(iv) A Class MD license to each qualified applicant, for a period of not more than two (2) years, upon payment of two dollars ($2.00).
(B) A Class D license or a Class M license shall be issued for a period to be elected by the applicant of either four (4) years upon payment of twelve dollars ($12.00) or eight (8) years upon payment of twenty-four dollars ($24.00) to a qualified applicant who:
(i) Is seventy (70) or more years of age; and
(ii) Has an expired Class D license or Class M license.
(2)(A) Each applicant for a Class D license, Class M license, or Class MD license under § 27-16-704, § 27-16-807, or § 27-20-108 shall pay an examination fee of five dollars ($5.00) for each written examination taken.
(B) The examination fee shall be remitted in a manner prescribed by the commissioner.
(3) Each license shall include:
(A) A distinguishing number assigned t
Source: Arkansas Code — historical release 78 (November 6, 2020) · 27-16-801
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 27-16-801. This identifies an authority to review, not proof of applicability.