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19-5-973. Public Facilities Construction Fund.
Arkansas Code — all titles (historical 2020) · legal_authorities
19-5-973. Public Facilities Construction Fund.
(a) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the “Public Facilities Construction Fund”.
(b) The fund shall consist of the remainder of the proceeds from the sale of certificates of indebtedness as provided in § 22-3-1214, there to be used only for the redemption of the 1977 bonds and the 1979 bonds and for the construction of buildings authorized under the Public Facilities Finance Act of 1983, § 22-3-1201 et seq.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-5-973
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:19-5-973
Source file: gov.ar.code.title.19.odt
Pages: Not recorded – Not recorded
Passage SHA-256: e3c3df7661e92a61c16be82f37d5cc113be373ac9a5cb049588636300363040a
Source location: content.xml paragraph 7066
Stored source content
19-5-973. Public Facilities Construction Fund.
(a) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the “Public Facilities Construction Fund”.
(b) The fund shall consist of the remainder of the proceeds from the sale of certificates of indebtedness as provided in § 22-3-1214, there to be used only for the redemption of the 1977 bonds and the 1979 bonds and for the construction of buildings authorized under the Public Facilities Finance Act of 1983, § 22-3-1201 et seq.
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Arkansas Code — all titles (historical 2020) · legal_authorities
22-3-1201. Title.
This subchapter shall be known and may be cited as the “Public Facilities Finance Act of 1983”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 22-3-1201
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 22-3-1201. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
22-3-1214. Certificates of indebtedness — Disposition of proceeds.
Proceeds from the sale of the certificates of indebtedness shall be deposited into the State Treasury as follows:
(1) All funds held as a debt service reserve fund in the Public Facilities Debt Service Fund pursuant to the provisions hereof and the earnings thereon shall be applied on or after January 2, 1990, to redeem, to the extent possible, certificates of indebtedness identified as Series B; and
(2) The remainder thereof shall be credited as trust funds to the “Public Facilities Construction Fund”, which is established by this subdivision (2), and shall be used only for the redemption of the 1977 Bonds and the 1979 Bonds and for the construction of buildings authorized under this subchapter.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 22-3-1214
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 22-3-1214. This identifies an authority to review, not proof of applicability.