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15-5-213. Correction Facilities Construction Fund.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-5-213. Correction Facilities Construction Fund.
(a) There is established on the books of the Arkansas Development Finance Authority a special restricted fund to be known as the “Correction Facilities Construction Fund”. This fund shall be administered in accordance with the provisions of this section.
(b) The fund shall receive moneys payable from the Treasurer of State in accordance with § 15-5-422. All moneys deposited into the fund and all income, interest, and earnings therefrom are declared to be cash funds restricted in their use and dedicated and are to be used solely for acquisition and construction of regional correction facilities for use by the Division of Correction, specifically including a regional correction facility in Chicot County, which facility will be leased to and utilized by the division.
(c) The fund shall be held and the amounts therein invested by the authority only in accordance with this section. The moneys in the fund shall be invested by the authority in accordance with the restrictions established for the Bond Guaranty Reserve Account provided for in § 15-5-407. The fund and the moneys in the fund shall not be part of the general funds of the authority subject to claims of the general creditors of the authority. The fund may be pledged by the authority upon proper authorization of the Board of Directors of the Arkansas Development Finance Authority only to secure repayment of obligations of the authority, the proceeds of which are used to construct or acquire correction facilities as specified in subsection (b) of this section.
(d) After July 1, 2008, as the authority no longer has outstanding obligations, the proceeds of which have been used to construct and acquire correction facilities as specified in subsection (b) of this s
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-5-213
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:15-5-213
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 3d913734959f0390ed68e4d3a7795b9842aa7c82084e286a97327bd788941b88
Source location: content.xml paragraph 7595
Stored source content
15-5-213. Correction Facilities Construction Fund.
(a) There is established on the books of the Arkansas Development Finance Authority a special restricted fund to be known as the “Correction Facilities Construction Fund”. This fund shall be administered in accordance with the provisions of this section.
(b) The fund shall receive moneys payable from the Treasurer of State in accordance with § 15-5-422. All moneys deposited into the fund and all income, interest, and earnings therefrom are declared to be cash funds restricted in their use and dedicated and are to be used solely for acquisition and construction of regional correction facilities for use by the Division of Correction, specifically including a regional correction facility in Chicot County, which facility will be leased to and utilized by the division.
(c) The fund shall be held and the amounts therein invested by the authority only in accordance with this section. The moneys in the fund shall be invested by the authority in accordance with the restrictions established for the Bond Guaranty Reserve Account provided for in § 15-5-407. The fund and the moneys in the fund shall not be part of the general funds of the authority subject to claims of the general creditors of the authority. The fund may be pledged by the authority upon proper authorization of the Board of Directors of the Arkansas Development Finance Authority only to secure repayment of obligations of the authority, the proceeds of which are used to construct or acquire correction facilities as specified in subsection (b) of this section.
(d) After July 1, 2008, as the authority no longer has outstanding obligations, the proceeds of which have been used to construct and acquire correction facilities as specified in subsection (b) of this section, all amounts remaining in the fund shall be paid by the authority to the Treasurer of State.
(e)(1) There is created within the fund an account entitled the “Correction Facilities Privatization Account”, and the Correction Facilities Privatization Account shall receive:
(A) Moneys payable from funds in the division as established in § 12-27-128;
(B) Such moneys as are transferred pursuant to § 22-3-1210(c); and
(C) Such cash funds of the division as are deemed necessary by the Chief Fiscal Officer of the State for the purposes established herein.
(2) All moneys deposited into the Correction Facilities Privatization Account and all income, interest, and earnings therefrom are declared to be cash funds restricted in their use and dedicated to be used solely for acquisition, construction, and rehabilitation of correction facilities for the use and benefit of the division or for payments to private contractors for the use of correction facilities by the division.
(3) The moneys deposited into the Correction Facilities Privatization Account shall not be subject to the provisions of subsection (d) of this section.
(4) The Correction Facilities Privatization Account shall not be subject to distribution to the Treasurer of State, and the Correction Facilities Privatization Account shall remain as an account of the authority.
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Arkansas Code — all titles (historical 2020) · legal_authorities
12-27-128. Division of Correction Nontax Revenue Receipts Fund.
(a) There is created in accordance with §§ 19-4-801 — 19-4-803, 19-4-804 [repealed], 19-4-805, 19-4-806, and the Revenue Classification Law, § 19-6-101 et seq., a cash fund entitled the Division of Correction Nontax Revenue Receipts Fund to consist of receipts for telephone calls from coinless telephones located on Division of Correction grounds, and from other nontax receipts not previously identified to a fund of deposit.
(b) Funds held in the Division of Correction Nontax Revenue Receipts Fund are to be administered and expended by the Director of the Division of Correction within guidelines established by the Board of Corrections for periodic transfers to other division funds or for disbursements in support of division operations or debt service.
(c) The division will request cash fund appropriations in accordance with established law and procedures after a determination by the board of the usage of the Division of Correction Nontax Revenue Receipts Fund.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 12-27-128
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 12-27-128. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-5-407. Bond Guaranty Reserve Account — Investment of funds.
(a)(1) The Arkansas Development Finance Authority may establish a Bond Guaranty Reserve Account in an Arkansas financial institution or institutions that are members of the Federal Deposit Insurance Corporation.
(2) The account shall be in the name of the authority, and the amount in the account in excess of that insured by the Federal Deposit Insurance Corporation shall be secured by, and the authority may invest account funds in:
(A) Direct obligations of, or obligations which are guaranteed by, the United States;
(B) Obligations, debentures, notes, or other evidences of indebtedness issued or guaranteed by any of the following:
(i) Bank for Cooperatives;
(ii) Export-Import Bank of the United States;
(iii) Federal Financing Bank;
(iv) Federal Home Loan Bank System;
(v) Federal Home Loan Mortgage Corporation;
(vi) Federal Housing Administration;
(vii) Federal Intermediate Credit Bank;
(viii) Federal Land Bank;
(ix) Federal National Mortgage Association; or
(x) Government National Mortgage Association;
(C) Repurchase agreements with financial institutions acting as principal or agent for securities described in this subsection if the securities are delivered to the authority or trustee on its behalf;
(D) Obligations issued by public agencies or municipalities and fully secured as to the payment of both principal and interest by a pledge of annual contributions under an annual contributions contract or contracts with the United States or temporary notes, preliminary loan notes, or project notes issued by public agencies or municipalities, in each case fully secured as to the payment of both principal and interest by a requisition or payment agreement with the United States;
(E
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-5-407
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 15-5-407. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-5-422. Moneys for Correction Facilities Construction Fund.
The Arkansas Development Finance Authority is authorized to accept moneys for the Correction Facilities Construction Fund from any source, including, but not limited to, allocations from the Treasurer of State as provided in this section.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-5-422
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 15-5-422. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
22-3-1210. Certificates of indebtedness — Public Facilities Debt Service Fund.
(a) The principal of and interest on the certificates of indebtedness issued under this subchapter shall be secured, except as stated in subdivision (c)(1) of this section, by a lien on and pledge of:
(1) All revenue derived from payments by the Arkansas Development Finance Authority pursuant to § 22-3-1225(b) which is a portion of the funds received by the Arkansas Development Finance Authority from the sale of certificates for the inspection of motor vehicles;
(2) All moneys from the sale of or disposition of farm products, livestock, or other products produced in connection with the agriculture and livestock activities at any institution under the control of the Board of Corrections or any successor entity, excluding those moneys that may be accountable from, or the value of, products consumed within the Division of Correction and from rental of farm properties under the control of the board or any successor entity;
(3) All moneys from the sale or disposition of articles and products manufactured or produced by prison labor through the operations of the prison industry program, excluding those moneys that may be accountable from, or the value of, articles and products used or consumed within the Division of Correction; and
(4) Fifty percent (50%) of the gross revenue, if any, derived from the leasing or renting to tenants, other than state agencies, of space in any new facility constructed or acquired with proceeds of any certificates issued under this subchapter.
(b) The pledging of the revenues enumerated in subsection (a) of this section, which are, collectively, the pledged revenues, is authorized. All pledged revenues are specifically declared to be nontax revenues restric
Source: Arkansas Code — historical release 78 (November 6, 2020) · 22-3-1210
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 22-3-1210. This identifies an authority to review, not proof of applicability.