§ 14-171-215 - Payments to localities. - Arkansas Statutes

14-171-215. Payments to localities.

(a) Payments of state assistance to cities and counties under an agreement with the eligible facilities shall be made as follows:

(1) The Fort Smith Convention Center or its bond trustee shall receive:

(A) One million seven hundred ninety-five thousand eight hundred twenty-seven dollars ($1,795,827) in the fiscal year 2009; and

(B) One million seven hundred seventy-seven thousand four hundred forty-six dollars ($1,777,446) in the fiscal year 2010;

(2) The Texarkana Four States Fair, Inc., or its bond trustee shall receive:

(A) Two hundred thirty-five thousand eight hundred thirty-eight dollars ($235,838) in the fiscal year 2009; and

(B) Two hundred ten thousand six hundred thirty-eight dollars ($210,638) in the fiscal year 2010;

(3) The Hot Springs Advertising and Promotion Commission Convention Center or its bond trustee shall receive:

(A) Two million four hundred fifty-four thousand two hundred thirty dollars ($2,454,230) in the fiscal year 2009;

(B) Two million four hundred fifty-three thousand two hundred thirty dollars ($2,453,230) in the fiscal year 2010;

(C) Two million four hundred fifty-four thousand seven hundred seventy dollars ($2,454,770) in the fiscal year 2011; and

(D) Two million four hundred fifty-four thousand four hundred thirty dollars ($2,454,430) in the fiscal year 2012;

(4) The City of Little Rock Convention and Visitors Bureau or its bond trustee shall receive:

(A) One million nine hundred thirty-eight thousand twenty-two dollars ($1,938,022) in the fiscal year 2009;

(B) One million nine hundred thirty-seven thousand ninety dollars ($1,937,090) in the fiscal year 2010;

(C) One million nine hundred thirty-two thousand five dollars ($1,932,005) in the fiscal year 2011;

(D) One million nine hundred twenty-seven thousand eight hundred seventy-four dollars ($1,927,874) in the fiscal year 2012;

(E) One million nine hundred twenty-one thousand forty-six dollars ($1,921,046) in the fiscal year 2013;

(F) One million nine hundred eighteen thousand two hundred dollars ($1,918,200) in the fiscal year 2014;

(G) One million nine hundred eleven thousand eight hundred thirty-five dollars ($1,911,835) in the fiscal year 2015; and

(H) One hundred fifty-nine thousand two hundred seventy-three dollars ($159,273) in the fiscal year 2016; and

(5) The Arkansas State Fair and Livestock Show Association or its bond trustee shall receive the moneys listed in this subdivision (a)(5), less any general revenues appropriated to the State Fair:

(A) Seven hundred ten thousand three hundred twenty-eight dollars ($710,328) in the fiscal year 2009;

(B) Eight hundred eighty-seven thousand nine hundred eight dollars ($887,908) in the fiscal year 2010;

(C) Eight hundred eighty-seven thousand nine hundred eight dollars ($887,908) in the fiscal year 2011;

(D) Eight hundred eighty-seven thousand nine hundred eight dollars ($887,908) in the fiscal year 2012;

(E) Eight hundred eighty-seven thousand nine hundred eight dollars ($887,908) in the fiscal year 2013;

(F) Eight hundred eighty-seven thousand nine hundred eight dollars ($887,908) in the fiscal year 2014;

(G) Eight hundred eighty-seven thousand nine hundred eight dollars ($887,908) in the fiscal year 2015; and

(H) Eight hundred eighty-seven thousand nine hundred eight dollars ($887,908) in the fiscal year 2016.

(b) (1) The payments provided in subsection (a) of this section are based on expense or debt service schedules in effect on January 1, 2001.

(2) The eligible facilities shall receive the dollar amounts of state assistance by fiscal year, as reflected in subsection (a) of this section, regardless of refinancing, payment, or prepayment of outstanding debt.

(3) The Treasurer of State shall make quarterly payments from the City-County Tourist Facilities Aid Fund to the eligible facilities in accordance with subsection (a) of this section.