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14-316-204. Remission of funds for paying bonded indebtedness and interest.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-316-204. Remission of funds for paying bonded indebtedness and interest.
(a) When directed by the State Highway Commission, the commissioners of road districts referred to in § 14-316-203 shall remit all funds on hand from any and all sources, or so much thereof as may be necessary, to the bank or trust company named as payee in the deed of trust securing the bonds of the district, for the purpose of paying the bonds and interest as they mature, to the extent of the funds. However, the districts may retain sufficient amounts of the funds on hand to take care of existing contracts.
(b) In making the allotment provided for in section 3 of Act No. 11, approved February 4, 1927, [superseded], the commission shall only allot to the districts referred to in § 14-316-203 having funds on hand in an amount which, when added to the funds, will be sufficient to meet the maturing bonds and interest of the district, with the paying charge on that amount.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-316-204
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. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:14-316-204
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: b91e0add5c23b4537dfc31e25794acbe2eddac6ede1eca861fc65ff3c3276f29
Source location: content.xml paragraph 56460
Stored source content
14-316-204. Remission of funds for paying bonded indebtedness and interest.
(a) When directed by the State Highway Commission, the commissioners of road districts referred to in § 14-316-203 shall remit all funds on hand from any and all sources, or so much thereof as may be necessary, to the bank or trust company named as payee in the deed of trust securing the bonds of the district, for the purpose of paying the bonds and interest as they mature, to the extent of the funds. However, the districts may retain sufficient amounts of the funds on hand to take care of existing contracts.
(b) In making the allotment provided for in section 3 of Act No. 11, approved February 4, 1927, [superseded], the commission shall only allot to the districts referred to in § 14-316-203 having funds on hand in an amount which, when added to the funds, will be sufficient to meet the maturing bonds and interest of the district, with the paying charge on that amount.
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-316-203. Districts with roads wholly within the state highway system — Annual report.
(a) On or before January 10 of each year, the commissioners of road districts whose roads, exclusive of any portion within the corporate limits of any city or town of more than two thousand five-hundred (2,500) inhabitants, are wholly included in the state highway system shall file a report with the State Highway Commission showing:
(1) The cash on hand, the amount of delinquent taxes, and all other assets; and
(2) All receipts and disbursements during the previous year.
(b) The report shall state the date of each voucher drawn, the amount, to whom payable, and for what purpose issued.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-316-203
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 14-316-203. This identifies an authority to review, not proof of applicability.