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12-8-309. Lease fund — Investments.
Arkansas Code — all titles (historical 2020) · legal_authorities
12-8-309. Lease fund — Investments.
Nothing in §§ 12-8-307 — 12-8-310 is intended to prohibit the Department of Arkansas State Police from investing moneys deposited into the Department of Arkansas State Police Communications Equipment Lease Fund, as provided in this subchapter.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 12-8-309
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:12-8-309
Source file: gov.ar.code.title.12.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 1dcec8f7b618f0fbd34f7584384d226f361762cd6aad81b05a2fdee478511f43
Source location: content.xml paragraph 1063
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12-8-309. Lease fund — Investments.
Nothing in §§ 12-8-307 — 12-8-310 is intended to prohibit the Department of Arkansas State Police from investing moneys deposited into the Department of Arkansas State Police Communications Equipment Lease Fund, as provided in this subchapter.
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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. The source passage cites 12-8-307. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
12-8-310. Lease fund — Expiration of provisions.
(a) The provisions of §§ 12-8-307 — 12-8-309 shall expire upon payment of the final costs authorized under the lease agreements mentioned in this subchapter.
(b) Any balances remaining in the Department of Arkansas State Police Communications Equipment Lease Fund shall be deposited into the State Treasury to the credit of the Department of Arkansas State Police Fund as a nonrevenue receipt.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 12-8-310
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 12-8-310. This identifies an authority to review, not proof of applicability.