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15-22-507. Arkansas Water Development Fund.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-22-507. Arkansas Water Development Fund.
(a) The Arkansas Natural Resources Commission is authorized to establish, maintain, and administer the “Arkansas Water Development Fund”, which shall be used for the payment of any water development project costs set out in § 15-22-506 and to discharge obligations pertaining to the principal of and interest on any water development bond issued by the commission.
(b) The fund may consist of the following:
(1) Cash funds, from whatever source received, on deposit by the commission in any one (1) or more banks qualifying for the deposit of public funds;
(2) Savings accounts in any one (1) or more banks qualifying for such deposits of public funds; and
(3) Bonds of the United States.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-22-507
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:15-22-507
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 13e658ab3d6706f0d4093170119c0f8d069aa2e552c73af37ad9a16b903ec3cd
Source location: content.xml paragraph 15516
Stored source content
15-22-507. Arkansas Water Development Fund.
(a) The Arkansas Natural Resources Commission is authorized to establish, maintain, and administer the “Arkansas Water Development Fund”, which shall be used for the payment of any water development project costs set out in § 15-22-506 and to discharge obligations pertaining to the principal of and interest on any water development bond issued by the commission.
(b) The fund may consist of the following:
(1) Cash funds, from whatever source received, on deposit by the commission in any one (1) or more banks qualifying for the deposit of public funds;
(2) Savings accounts in any one (1) or more banks qualifying for such deposits of public funds; and
(3) Bonds of the United States.
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Arkansas Code — all titles (historical 2020) · legal_authorities
15-22-506. Cooperation with state or federal agencies — Project costs.
(a) The Arkansas Natural Resources Commission is authorized to engage in any water development project or any phase thereof in cooperation with any political subdivision or agency of the State of Arkansas, provided it is included in and made a part of the Arkansas Water Plan.
(b) Whenever any water development project of any federal agency is included in the plan, the commission shall so advise the appropriate federal agency and shall obtain from that federal agency an estimate of the entire amounts of nonfederal costs involved in the water development project.
(c)(1) Whenever it shall make a determination, based upon such estimates and its own study that the local nonfederal costs of the water development project may be amortized over the life of the water development project, the commission may give the appropriate federal agency constructing the water development project reasonable assurance, in writing, that the demands for the use of the water development project will be made within a period of time which will permit the paying out of the costs within the life of the water development project.
(2) Nothing in subdivision (c)(1) of this section shall be construed as to commit the state government either to pay or guarantee the payment of such costs, and a statement to that effect shall be contained in any such writing.
(3) Subdivision (c)(2) of this section shall not be so construed as to inhibit the right of the commission to pay any such costs as related to anticipated future demand or need whenever it shall have been provided with funds for that purpose.
(d) Whenever funds are appropriated for that purpose and to the extent that they are available, the commission may use such funds
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-22-506
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 15-22-506. This identifies an authority to review, not proof of applicability.