Browse Arkansas Code titles and sections
14-143-130. Funding for regional intermodal facilities.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-143-130. Funding for regional intermodal facilities.
(a) The Arkansas Department of Transportation shall distribute the first five hundred twenty-five thousand dollars ($525,000) of interest income received under § 27-70-204 each year from the State Highway and Transportation Department Fund. The moneys shall be:
(1) Equally distributed to each authority;
(2) Deposited into a bank as the authority may direct under § 14-143-124(a)(1); and
(3) Used for the purposes and the implementation of the powers authorized under this chapter.
(b) Moneys remaining in the bank designated by the authority under subdivision (a)(2) of this section shall carry forward and be made available for the purposes stated in subdivision (a)(3) of this section in the next fiscal year.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-143-130
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:14-143-130
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: d1ed9e5c04300e53df0c9989de2d5c189346ae9515f8c2817210424d9ec4a75c
Source location: content.xml paragraph 35957
Stored source content
14-143-130. Funding for regional intermodal facilities.
(a) The Arkansas Department of Transportation shall distribute the first five hundred twenty-five thousand dollars ($525,000) of interest income received under § 27-70-204 each year from the State Highway and Transportation Department Fund. The moneys shall be:
(1) Equally distributed to each authority;
(2) Deposited into a bank as the authority may direct under § 14-143-124(a)(1); and
(3) Used for the purposes and the implementation of the powers authorized under this chapter.
(b) Moneys remaining in the bank designated by the authority under subdivision (a)(2) of this section shall carry forward and be made available for the purposes stated in subdivision (a)(3) of this section in the next fiscal year.
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-143-124. Accounts and reports.
(a)(1) All funds received by an authority shall be deposited in such banks as the authority may direct and shall be withdrawn therefrom in such manner as the authority may direct.
(2)(A) Each authority shall keep strict account of all of its receipts and expenditures and shall each quarter make a report to those participating entities which have made contributions.
(B)(i) The report shall contain an itemized account of its receipts and disbursements during the preceding quarter.
(ii) The report shall be made within sixty (60) days after the termination of the quarter.
(b)(1) Within sixty (60) days after the end of each fiscal year, each authority shall cause an annual audit to be made by an independent certified public accountant and shall file a copy of the resulting audit report with each of the governing bodies participating in the authority. This audit shall contain an itemized statement of its receipts and disbursements for the preceding year.
(2) The books, records, and accounts of each authority shall be subject to audit and examination by any proper public official or body in the manner provided by law.
(c) The agreement provided for in § 14-143-103 of this chapter may also provide for each authority to furnish the participating governing bodies copies of its annual budget for examination and approval.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-143-124
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 14-143-124. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
27-70-204. Interest on funds of Arkansas Department of Transportation.
(a) On the second business day that the State Treasury is open after the twenty-fifth day of the month, the Treasurer of State shall compute the balance of the State Highway and Transportation Department Fund, including all internal accounts and funds, including, but not limited to, the State Highway Special Construction Account, the State Aid Road Fund, the State Aid Street Fund, the State Highway and Transportation Department Fund, and any other funds administered by the Arkansas Department of Transportation during the preceding month and shall transfer on that day to the State Highway and Transportation Department Fund interest on the balance to be computed as authorized under § 19-3-518(d)(4), excluding the interest rate paid on open account deposits, during the preceding month.
(b)(1) Except as provided in subdivision (b)(2) of this section, interest earned on the accounts described in subsection (a) of this section shall be classified as special revenues to be used as authorized under § 19-6-405.
(2) Interest income generated from the Arkansas Four-Lane Highway Construction and Improvement Bond Account shall be distributed as required under § 27-70-206.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 27-70-204
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 27-70-204. This identifies an authority to review, not proof of applicability.