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26-75-408. Use of funds.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-75-408. Use of funds.
(a) All revenues received by a city or town from taxes levied pursuant to the authority granted in this subchapter shall be deposited into the city or town treasury and credited to a special account and shall be used for the acquisition, construction, or improvement of parks and recreational facilities within the municipality as prescribed in the levying ordinance.
(b) Any balance remaining in the special account described in subsection (a) of this section after the projects prescribed in the levying ordinance have been completed and paid for shall be used for maintenance and upkeep of municipal parks and recreational facilities.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-75-408
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:26-75-408
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 15aac4be492bf5561cb7ebc5d4fa22b05a8f55adcefb8fd9dee56c0d28e8893f
Source location: content.xml paragraph 34730
Stored source content
26-75-408. Use of funds.
(a) All revenues received by a city or town from taxes levied pursuant to the authority granted in this subchapter shall be deposited into the city or town treasury and credited to a special account and shall be used for the acquisition, construction, or improvement of parks and recreational facilities within the municipality as prescribed in the levying ordinance.
(b) Any balance remaining in the special account described in subsection (a) of this section after the projects prescribed in the levying ordinance have been completed and paid for shall be used for maintenance and upkeep of municipal parks and recreational facilities.
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