Browse Arkansas Code titles and sections
27-64-310. Sources of repayment.
Arkansas Code — all titles (historical 2020) · legal_authorities
27-64-310. Sources of repayment.
(a) The State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds shall be general obligations of the State of Arkansas secured and payable from the designated revenues and the general revenues of the state.
(b) The bonds shall be payable first from the following designated revenues:
(1) The portion designated by the State Highway Commission of funds received or to be received from the federal government as federal highway assistance funding allocated to the state and designated as federal highway interstate maintenance funds; and
(2) Revenues derived from the distillate special fuels tax levied under § 26-56-201(e) that are available for expenditure after any distributions required by the Arkansas Highway Financing Act of 1999, § 27-64-201 et seq.
(c) If the amount of designated revenues is insufficient to make timely payment of debt service on the bonds, the payment shall be made from the general revenues of the State of Arkansas.
(d) In order to secure the payment of debt service, any trust instrument, resolution, or other document setting forth the security for the bondholders may provide for the direct payment of the federal highway assistance funds that are designated revenues directly into a trust fund or to a paying agent for the payment of debt service on the bonds. It shall not be necessary for the funds to be deposited into the State Treasury.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 27-64-310
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:27-64-310
Source file: gov.ar.code.title.27.odt
Pages: Not recorded – Not recorded
Passage SHA-256: b1d63c444e6d28bd1ab9c0624a05f47c0e3d47d7ab4a7e073df73f1c8a43fd09
Source location: content.xml paragraph 20931
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27-64-310. Sources of repayment.
(a) The State of Arkansas Federal Highway Grant Anticipation and Tax Revenue Bonds shall be general obligations of the State of Arkansas secured and payable from the designated revenues and the general revenues of the state.
(b) The bonds shall be payable first from the following designated revenues:
(1) The portion designated by the State Highway Commission of funds received or to be received from the federal government as federal highway assistance funding allocated to the state and designated as federal highway interstate maintenance funds; and
(2) Revenues derived from the distillate special fuels tax levied under § 26-56-201(e) that are available for expenditure after any distributions required by the Arkansas Highway Financing Act of 1999, § 27-64-201 et seq.
(c) If the amount of designated revenues is insufficient to make timely payment of debt service on the bonds, the payment shall be made from the general revenues of the State of Arkansas.
(d) In order to secure the payment of debt service, any trust instrument, resolution, or other document setting forth the security for the bondholders may provide for the direct payment of the federal highway assistance funds that are designated revenues directly into a trust fund or to a paying agent for the payment of debt service on the bonds. It shall not be necessary for the funds to be deposited into the State Treasury.
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Arkansas Code — all titles (historical 2020) · legal_authorities
26-56-201. Imposition of tax — Exemptions.
(a)(1)(A)(i) There is levied an excise tax at the rate of eight and one-half cents (8½¢) per gallon on all distillate special fuel sold or used in this state or purchased for sale or use in this state.
(ii) In addition to the tax levied in subdivision (a)(1)(A)(i) of this section, there is levied an excise tax at the rate of one cent (1¢) per gallon on all distillate special fuel sold or used in this state or purchased for sale or use in this state.
(B) The additional levies provided in subdivision (a)(2) of this section and § 26-56-502 are specifically intended to apply to the taxes levied by this section and shall remain effective.
(2) In addition to the tax levied in subdivision (a)(1) of this section, there is levied an excise tax of one cent (1¢) for each gallon of distillate special fuel, as defined in § 26-56-102, sold or used in this state, or purchased for sale or use in this state, to be computed in the manner set forth in this section.
(b) The following are exempted from the tax levied by subsection (a) of this section:
(1) Sales to the United States Government;
(2) Sales to dealers, users, or off-road consumers for off-road use only if the distillate special fuel was delivered by the supplier into storage facilities clearly marked “NOT FOR MOTOR VEHICLE USE”;
(3) Sales of distillate special fuel by a licensed supplier for export from the State of Arkansas when shipped by common carrier FOB destination to any other state or territory or to any foreign country, or the export of distillate special fuel by a licensed supplier from the State of Arkansas to any other state or territory or to any foreign country, if satisfactory proof of actual exportation of all the distillate special fuel is furnished at
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-56-201
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 26-56-201. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
27-64-201. Title.
This subchapter may be referred to and cited as the “Arkansas Highway Financing Act of 1999”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 27-64-201
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 27-64-201. This identifies an authority to review, not proof of applicability.