§ 13-2-405 - Surplus funds -- Matching funds. - Arkansas Statutes

13-2-405. Surplus funds -- Matching funds.

(a) The governing board of any county public library is authorized to use any surplus funds available in the operating or maintenance account of the public library for matching federal or other funds available for financing necessary expansions or improvements of the public library.

(b) Before using any of the funds for the purposes of this section, the governing board of the county public library shall adopt a resolution setting forth the:

(1) Amount of the funds to be used;

(2) Purposes for which the funds are to be used;

(3) Amount of matching funds to be derived by the use of the funds; and

(4) Nature of the expansions or improvements to be made.

(c) The resolution shall include a declaration that the use of the funds will not jeopardize any existing program of the county public library and that the funds are not needed for any existing or anticipated maintenance or operating purpose of the library.

(d) The governing board of any county library using funds as authorized in this section is authorized to enter into contracts or agreements necessary to accomplish the purposes of this section.

(e) (1) With respect to the purposes of this section, the governing board is authorized to accept gifts, grants, or donations of both real and personal property from the federal government or from any person, firm, or corporation.

(2) These gifts, grants, or donations shall be used for the purposes of the expansion or improvement of the public library.