Browse Arkansas Code titles and sections
22-3-1225. Prison Construction Trust Fund.
Arkansas Code — all titles (historical 2020) · legal_authorities
22-3-1225. Prison Construction Trust Fund.
(a) The Arkansas Development Finance Authority shall establish in its records a trust fund to be entitled the “Prison Construction Trust Fund”. All moneys derived by or remitted to the Arkansas Development Finance Authority, from the sale of annual license plate validation decals, pursuant to § 27-14-1015(c), shall be deposited to the credit of the Prison Construction Trust Fund. The moneys in the Prison Construction Trust Fund shall not be general funds or revenues of the Arkansas Development Finance Authority and shall not be subject to the claims of the general creditors of the Arkansas Development Finance Authority.
(b) The Arkansas Development Finance Authority shall pay from the Prison Construction Trust Fund into the Public Facilities Debt Service Fund created by §§ 19-5-932 and 22-3-1210 the amount necessary, when added to other funds listed in § 22-3-1210, to pay the next-succeeding principal and interest payment for the certificates of indebtedness, but not to exceed twenty-five cents (25¢) times the number of annual license plate validation decals sold by the Department of Finance and Administration in each six-month period. Such payments shall be made by the Arkansas Development Finance Authority semiannually two (2) business days prior to each July 1 and January 1 so long as the certificates of indebtedness permitted by the Public Facilities Finance Act of 1983, § 22-3-1201 et seq., are outstanding. All such payments by the Arkansas Development Finance Authority to the Public Facilities Debt Service Fund shall cease when the certificates of indebtedness have been paid or redeemed.
(c) All other funds in the Prison Construction Trust Fund shall be segregated, held, and used by the Arkansas Development Finance
Source: Arkansas Code — historical release 78 (November 6, 2020) · 22-3-1225
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:22-3-1225
Source file: gov.ar.code.title.22.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 9bfbd72890db9ddda9e6895144b02ea71dd9fd785b62702c0190dfbb2d157616
Source location: content.xml paragraph 2387
Stored source content
22-3-1225. Prison Construction Trust Fund.
(a) The Arkansas Development Finance Authority shall establish in its records a trust fund to be entitled the “Prison Construction Trust Fund”. All moneys derived by or remitted to the Arkansas Development Finance Authority, from the sale of annual license plate validation decals, pursuant to § 27-14-1015(c), shall be deposited to the credit of the Prison Construction Trust Fund. The moneys in the Prison Construction Trust Fund shall not be general funds or revenues of the Arkansas Development Finance Authority and shall not be subject to the claims of the general creditors of the Arkansas Development Finance Authority.
(b) The Arkansas Development Finance Authority shall pay from the Prison Construction Trust Fund into the Public Facilities Debt Service Fund created by §§ 19-5-932 and 22-3-1210 the amount necessary, when added to other funds listed in § 22-3-1210, to pay the next-succeeding principal and interest payment for the certificates of indebtedness, but not to exceed twenty-five cents (25¢) times the number of annual license plate validation decals sold by the Department of Finance and Administration in each six-month period. Such payments shall be made by the Arkansas Development Finance Authority semiannually two (2) business days prior to each July 1 and January 1 so long as the certificates of indebtedness permitted by the Public Facilities Finance Act of 1983, § 22-3-1201 et seq., are outstanding. All such payments by the Arkansas Development Finance Authority to the Public Facilities Debt Service Fund shall cease when the certificates of indebtedness have been paid or redeemed.
(c) All other funds in the Prison Construction Trust Fund shall be segregated, held, and used by the Arkansas Development Finance Authority solely to fund, or to provide for the funding of, the construction and equipping of:
(1) Correction or prison facilities to be used by the Division of Correction;
(2) Regional jail facilities operated by the Division of Correction; or
(3) Regional jail facilities operated jointly by cities, counties, or regional jail commissions.
(d) The Arkansas Development Finance Authority shall be authorized to fund or to provide for the funding of facilities described in subdivisions (c)(1)-(3) of this section by loans, leases, other contracts, or the issuance of bonds all in accordance with the provisions of the Arkansas Development Finance Authority Act, § 15-5-101 et seq., and §§ 15-5-201 — 15-5-211, 15-5-213, and 15-5-301 — 15-5-316, and to pledge the cash funds collected by it from the sale of annual license plate validation decals and deposited into the Prison Construction Trust Fund, after payment of the amounts as specified in subsection (b) of this section to the repayment of any loans, leases, contracts, or bonds.
(e) The Arkansas Development Finance Authority shall not fund or provide for the funding of any facility described in subsection (c) of this section to be operated or utilized by the Division of Correction unless the project, the plans therefor, and the construction thereof have been reviewed and approved by the Building Authority Division. The Arkansas Development Finance Authority shall not fund or provide for the funding of any other regional jail facility not utilized by the Division of Correction unless the project is in compliance with the minimum standards for jail facilities adopted by the state.
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Arkansas Code — all titles (historical 2020) · legal_authorities
19-5-932. Public Facilities Debt Service 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 trust fund to be known as the “Public Facilities Debt Service Fund”.
(b) The fund shall consist of those revenues as specified in the Public Facilities Finance Act of 1983, § 22-3-1201 et seq., and shall be used for the purposes as set out in the Public Facilities Finance Act of 1983, § 22-3-1201 et seq.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-5-932
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 19-5-932. This identifies an authority to review, not proof of applicability.
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
22-3-1210. 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.
Arkansas Code — all titles (historical 2020) · legal_authorities
27-14-1015. Payment of personal property taxes and listing for assessment required.
(a) The owner of every vehicle subject to registration in Arkansas shall assess the vehicle with the county tax assessor in the county where required by law and within the time required by law.
(b)(1) The county tax assessor and county tax collector shall provide to the Secretary of the Department of Finance and Administration updates to the state vehicle registration system to indicate whether or not the owner of each vehicle registered in the county has assessed the vehicle and owes no delinquent personal property taxes.
(2) The provisions of this section shall not apply to vehicles assessed by the Tax Division of the Arkansas Public Service Commission and registered under the provisions of the International Registration Plan, nor shall the provisions of this section apply to vehicles owned by the state, public schools, or political subdivisions of this state or any other vehicles which are not subject to annual assessment and payment of personal property taxes.
(3) The secretary shall provide free of charge to each county assessor and to each county collector in this state, such additional computer hardware, software, and telecommunications links as he or she deems are essential to allow the county assessors and collectors to electronically forward to the Department of Finance and Administration updates to the vehicle registration system for the purposes of adding, changing, or removing information identifying vehicles which have been assessed within the time frame required by law, and vehicles for which the owners have paid personal property taxes within the time frame required by law.
(c) There is hereby levied a new fee of two dollars and fifty cents ($2.50) for the sale
Source: Arkansas Code — historical release 78 (November 6, 2020) · 27-14-1015
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 27-14-1015. This identifies an authority to review, not proof of applicability.