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27-76-705. Surplus revenue.
Arkansas Code — all titles (historical 2020) · legal_authorities
27-76-705. Surplus revenue.
(a) Each year, a regional mobility authority shall determine whether it has surplus revenue from tolls, fees, or fares collected from the operation of its transportation projects.
(b) If a regional mobility authority determines that it has surplus revenue, then it may either:
(1) Reduce the tolls, fees, or fares; or
(2) Spend the surplus revenue on other transportation projects in the counties or municipalities within the jurisdictional boundaries of the regional mobility authority as provided under subsection (c) of this section.
(c) Consistent with other laws and the rules and resolutions of the regional mobility authority, a regional mobility authority may spend surplus revenue on other transportation projects by:
(1) Constructing a transportation project located within the county or counties of the authority;
(2) Assisting in the financing of a toll or toll-free transportation project of another governmental entity; or
(3) Constructing a toll or toll-free transportation project and, on completion of the project, transferring the project to another governmental entity if:
(A) The other governmental entity authorizes the regional mobility authority to construct the project and agrees to assume all liability and responsibility for the maintenance and operation of the project on its transfer; and
(B) The project is constructed in compliance with all laws applicable to the governmental entity.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 27-76-705
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:27-76-705
Source file: gov.ar.code.title.27.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 94d197ec2122792a3dc67c948c02ba9c5fcd782005a0af55b36aaa8229eee98a
Source location: content.xml paragraph 26426
Stored source content
27-76-705. Surplus revenue.
(a) Each year, a regional mobility authority shall determine whether it has surplus revenue from tolls, fees, or fares collected from the operation of its transportation projects.
(b) If a regional mobility authority determines that it has surplus revenue, then it may either:
(1) Reduce the tolls, fees, or fares; or
(2) Spend the surplus revenue on other transportation projects in the counties or municipalities within the jurisdictional boundaries of the regional mobility authority as provided under subsection (c) of this section.
(c) Consistent with other laws and the rules and resolutions of the regional mobility authority, a regional mobility authority may spend surplus revenue on other transportation projects by:
(1) Constructing a transportation project located within the county or counties of the authority;
(2) Assisting in the financing of a toll or toll-free transportation project of another governmental entity; or
(3) Constructing a toll or toll-free transportation project and, on completion of the project, transferring the project to another governmental entity if:
(A) The other governmental entity authorizes the regional mobility authority to construct the project and agrees to assume all liability and responsibility for the maintenance and operation of the project on its transfer; and
(B) The project is constructed in compliance with all laws applicable to the governmental entity.
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