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14-168-321. Excess funds.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-168-321. Excess funds.
(a) Moneys received in the special fund of the district in excess of amounts needed to pay project costs may be used only by the local governing body for the redemption of outstanding bonds, notes, or other evidences of indebtedness issued by the redevelopment district or for distribution to any taxing unit in such amounts as may be determined by the local governing body.
(b) Upon termination of the district, all amounts in the special fund of the district may be used by the local governing body for any lawful purpose.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-168-321
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:14-168-321
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 00973a7b35c6d1a9e509243f170ab744ddccb508c794dc3846d1f34c61dfc910
Source location: content.xml paragraph 39543
Stored source content
14-168-321. Excess funds.
(a) Moneys received in the special fund of the district in excess of amounts needed to pay project costs may be used only by the local governing body for the redemption of outstanding bonds, notes, or other evidences of indebtedness issued by the redevelopment district or for distribution to any taxing unit in such amounts as may be determined by the local governing body.
(b) Upon termination of the district, all amounts in the special fund of the district may be used by the local governing body for any lawful purpose.
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