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27-72-319. Advance transfers from revolving fund — In general.
Arkansas Code — all titles (historical 2020) · legal_authorities
27-72-319. Advance transfers from revolving fund — In general.
(a) Moneys at any time in the County Road Construction and Maintenance Revolving Fund shall be available to the Chief Fiscal Officer of the State only for the purposes of making advance transfers to the several county highway funds, state aid road funds, federal-aid secondary road funds, and all other provisions of county road construction assistance which may be enacted by the General Assembly and governed by the Revenue Stabilization Law, § 19-5-101 et seq.
(b) The Chief Fiscal Officer of the State shall be guided by §§ 27-72-320 and 27-72-321, with respect to the making of advance transfers of moneys from the County Road Construction and Maintenance Revolving Fund to other State Treasury funds or fund accounts which, under the provisions of this section, are eligible to receive advances.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 27-72-319
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:27-72-319
Source file: gov.ar.code.title.27.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 0e826d5a53a2630a5ce192a20308db5580ce3ad18054c0ebaae0e7a848cc0cda
Source location: content.xml paragraph 24701
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27-72-319. Advance transfers from revolving fund — In general.
(a) Moneys at any time in the County Road Construction and Maintenance Revolving Fund shall be available to the Chief Fiscal Officer of the State only for the purposes of making advance transfers to the several county highway funds, state aid road funds, federal-aid secondary road funds, and all other provisions of county road construction assistance which may be enacted by the General Assembly and governed by the Revenue Stabilization Law, § 19-5-101 et seq.
(b) The Chief Fiscal Officer of the State shall be guided by §§ 27-72-320 and 27-72-321, with respect to the making of advance transfers of moneys from the County Road Construction and Maintenance Revolving Fund to other State Treasury funds or fund accounts which, under the provisions of this section, are eligible to receive advances.
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Arkansas Code — all titles (historical 2020) · legal_authorities
19-5-101. Title.
This chapter shall be known and cited as the “Revenue Stabilization Law”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-5-101
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 19-5-101. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
27-72-320. Advance transfers to county highway funds — Definition.
(a)(1) Advance transfers may be made to each of the several county highway funds from time to time during the fiscal year in amounts as may be requested by the several county courts and approved by the Chief Fiscal Officer of the State.
(2) The purpose of advance transfers as herein provided includes, but is not limited to, establishing a more consistent monthly revenue accruing to each of the several county highway funds when combining county highway aid with all other sources of county highway fund revenues and providing advance transfers for the purchase of capital equipment and materials utilized in county road construction and maintenance.
(3) However, the aggregate total amount of all transfers to each of the several respective county highway funds during any calendar quarter shall not exceed twenty-five percent (25%) of the estimated total amount of county highway aid funds to be credited to the respective fund for the current fiscal year, based on the then-current official estimate of county highway fund distribution.
(4) In the event no advance transfer to the respective county highway funds is required by a respective county court, the county court shall be permitted to designate the dollar amounts and sequence of payments made to the respective county from the funds apportioned through the provisions of the State Apportionment Fund.
(b)(1) The full amount of all advance transfers made during any fiscal year under subsection (a) of this section shall be repaid during the same fiscal year by transferring moneys in equal payments to the County Road Construction and Maintenance Revolving Fund from moneys designated as county highway aid funds for each respective county receiving advance
Source: Arkansas Code — historical release 78 (November 6, 2020) · 27-72-320
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 27-72-320. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
27-72-321. Advance transfers to county special purpose road accounts.
(a)(1) Advance transfers may be made from time to time during the fiscal year to each of the several county special purpose road accounts maintained by the Treasurer of State.
(2) Special purposes road accounts, as used in this section, shall include any and all county road construction provisions enacted by the General Assembly requiring a specified level of local, county, and cost matching funds, and shall include state aid road funds, federal-aid secondary road funds, and all other provisions of county special purpose road construction assistance which may be enacted by the General Assembly.
(3) Advance transfers may be made from time to time in such amounts as may be respectively requested by each of the several county courts.
(4) Advance transfer requests shall be duly recorded as county court orders in each of the respective counties and shall be filed in a manner and form prescribed by the Chief Fiscal Officer of the State.
(5) Requests shall be accompanied by a certified copy of all initiated contractual documentation or grant-in-aid award documentation required by the provisions of the applicable special purpose road construction assistance enacted by the General Assembly for which the advance transfer is requested.
(6) The contractual documentation or grant-in-aid award documentation shall specify the total dollar amount of the contract or award, the effective date of the contractual document, and the estimated date of termination or completion of all work specified in the contract or award.
(7) However, the aggregate amount of all advance transfers to each of the respective special purpose road construction accounts during any fiscal year shall not exceed fifty percent (50%) o
Source: Arkansas Code — historical release 78 (November 6, 2020) · 27-72-321
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 27-72-321. This identifies an authority to review, not proof of applicability.